New DBS executive to drive innovation

IDEAS MAN: Mr Cross joins DBS Bank from MasterCard.


    Apr 22, 2014

    New DBS executive to drive innovation

    DBS Bank said yesterday that it has appointed Mr Neal Cross as managing director and chief innovation officer, technology and operations, to help spur its innovation agenda regionally.

    Mr Cross joins DBS from MasterCard, where he was responsible for driving innovation as vice-president of MasterCard Labs in the company's Asia-Pacific, Middle East and Africa regions.

    Based in Singapore, he was also charged with creating and managing innovation programmes spanning ideation and commercialisation of new payment solutions.

    DBS said Mr Cross will drive its innovation agenda across its key axes of growth, namely Greater China, South-east Asia and South Asia.

    "Working with internal stakeholders and external collaborators, he will chart a next-phase innovation road map for DBS to enhance customer experience and better engage the bank's customers in the digital landscape," DBS said.

    The bank's innovation efforts, set in motion in 2010 by chief executive Piyush Gupta, are anchored on three big ideas:

    An increased focus on digitisation to further enhance efficiency.

    Making the customer experience more interactive and intuitive.

    Analytics and the use of Big Data, both structured and unstructured.

    DBS recently announced that it will invest $200 million over the next three years to up the ante in digital banking, as part of an effort to fend off increasing competition from non-traditional players, made possible by digitisation.