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DBS launches fully automated online account opening service for firms

Singapore-based DBS bank has rolled out a comprehensive automated online account opening service for companies operating in the country, enabling them to access a wide variety of services.

With the launch of the new service, the time invested to open a corporate account will considerably decrease from the industry average of current one to two hours, to approximately 15 minutes.

For interrupted account opening services, the bank leverages the instant access to an extensive database from Accounting and Corporate Regulatory Authority (ACRA) to pre-populate account-opening forms on behalf of its customer.

Using DBS’ online opening account capability, companies can open their accounts online, while getting rid of unnecessary paperwork.