DBS continues to set the standard for transaction banking in Asia, combining deep regional expertise with continuous product innovation. In 2024, the bank strengthened its position through a wave of developments that expanded digital capabilities, enhanced liquidity visibility and introduced new models for treasury centralisation.
Its focus on innovation was matched by measurable client impact: faster settlement, richer data insights and more resilient liquidity structures for corporates operating across the region.
At the centre of this transformation – under Lim Soon Chong, group head of global transaction services – was the launch of DBS Token Services, a suite of blockchain-based products that embeds tokenisation and programmable payments within the bank’s core infrastructure. The initiative marked a milestone for corporate banking globally, as DBS became one of the first commercial institutions to operationalise blockchain in mainstream transaction flows.
Tokenisation firsts
DBS Token Services integrates tokenised deposits, programmable transfers and smart-contract functionality directly into its payments and liquidity systems. For corporate treasurers, this means 24/7 cash mobility and the ability to embed business logic into transaction execution.
Among its first use cases was a treasury solution developed with Ant International. DBS supported Ant in tokenising intra-group liquidity, enabling real-time, cross-currency fund transfers between entities across time zones. The pilot demonstrated that programmable liquidity could achieve instant settlement and continuous visibility without compromising control or compliance. In recognition of this, DBS also won Euromoney’s award for world’s best cash management deal.
By tokenising deposits and enabling them to move seamlessly across jurisdictions, DBS is giving corporates an entirely new lever for cash optimisation. The initiative bridges traditional banking with digital asset infrastructure, paving the way for future interoperability between fiat, stablecoins and central bank digital currencies.
Complete overview
DBS also expanded its in-house bank capabilities, allowing corporates to centralise treasury operations and perform payments or collections on behalf of subsidiaries through a single master account supported by virtual sub-ledgers. This Pobo/Robo (payment-on-behalf-of/receipt-on-behalf-of) architecture replicates the functionality of a full treasury management system within DBS’s own digital platform.
For treasurers, the benefit lies in complete oversight of internal transactions, reduced dependency on external systems and faster onboarding of new entities. By consolidating balances under a unified structure, clients can optimise working capital, automate reconciliation and eliminate the cost and complexity of maintaining multiple physical accounts across markets.
DBS’s achievements mark the emergence of a new transaction banking model built around continuous settlement, real-time liquidity and embedded sustainability
Supporting this model, DBS rolled out an enhanced Liquidity Management dashboard that visualises and analyses cash positions across geographies. The tool allows corporates to simulate funding scenarios, adjust sweep parameters and redeploy liquidity dynamically. Its modular design means clients can combine physical, notional and cross-currency pooling according to their operational footprint, extending liquidity efficiency across multiple jurisdictions.
The bank also introduced an automated intraday overdraft facility, an enhancement that covers dozens of accounts within complex liquidity structures. The solution automatically bridges short-term cash shortfalls in real time, helping treasuries avoid manual interventions and late-day funding bottlenecks – an especially valuable function for corporates spanning Asia’s multiple time zones.
Accelerating cross-border flows
DBS’s payments innovation extended beyond technology into network design. The Enterprise Payments Hub, launched in 2024, consolidated cross-border and FX payment processing through a single integration. Built initially in Singapore and connected to multiple Asian markets, the hub enables faster, lower-cost settlement of low-value transfers.
The bank also expanded DBS GlobeSend, its cross-border payments solution designed for both corporates and financial institutions. Through GlobeSend, clients can route international payments dynamically across the most efficient rails, with predictable delivery times and transparent pricing across dozens of markets and currencies. The system integrates real-time tracking and beneficiary pre-validation to improve straight-through processing rates and reduce return costs.
In parallel, DBS continued the regional expansion of DBS Max, its QR-based merchant collection platform. The solution has been scaled from Singapore into Hong Kong and India, offering faster onboarding, automated reconciliation and same-day settlement cycles. In Hong Kong, merchants can now open accounts and begin transacting within a day, while in India the platform supports self-registration and multi-account settlement.
The bank also introduced a new Hosted Payment Platform sandbox, a test environment that allows merchants and corporates to trial e-commerce integrations in advance of full deployment.
DBS has continued to deliver practical innovations that simplify corporate FX risk management. The bank’s SecureFX feature, launched in late 2024, enables clients to lock in foreign exchange rates in advance, even without a credit line, at no extra cost. Integrated directly into the Ideal platform, SecureFX gives SMEs and mid-sized corporates access to a level of currency management typically reserved for large institutions. It allows treasurers to confirm a rate during transaction initiation, execute the payment later and avoid market volatility, effectively embedding hedging within daily operational flows.
Greening supply-chain finance
Sustainability remains a core pillar of DBS’s product strategy. During 2024, the bank extended its ESG-linked trade and supply chain finance programmes. It supported corporates such as Sanfield, which developed with the bank the first sustainability-linked supplier payment services programme in Hong Kong’s construction industry.
DBS also participated in digital initiatives such as tokenised green reward schemes in Hong Kong, using programmable e-HKD vouchers to incentivise sustainable behaviour among SMEs and consumers.
All these innovations are unified within DBS Ideal, the bank’s integrated digital banking platform for corporates. Ideal acts as the gateway for payments, liquidity, FX and trade services, giving treasurers a single view of their operations across regions. By embedding new capabilities such as tokenisation, cross-border automation and ESG-linked rewards within this environment, DBS ensures a consistent and secure user experience for both multinational and mid-market clients.
The bank has also deepened collaboration with system integrators to help corporates connect their enterprise resource planning systems to Ideal via APIs, accelerating automation without the need for bespoke development.
DBS’s achievements in 2024 reflect more than technological progress: they mark the emergence of a new transaction banking model built around continuous settlement, real-time liquidity and embedded sustainability. Each product launch, from tokenised deposits to API-enabled payments, has been designed with a single purpose: to make treasury simpler, smarter and more strategic for clients.
