DBS today inked a Memorandum of Understanding (MOU) between DBS and the Institute of Banking and Finance Singapore (IBF). The agreement, the first of its kind between IBF and a financial institution, established three comprehensive areas of collaboration that will benefit both DBS employees and the wider financial services workforce in Singapore:

Uplift – DBS and IBF will equip employees with foundational AI competencies through IBF-recognised programmes, including AI governance, responsible AI, prompt engineering and practical AI applications. Drawing on its experience equipping all 40,000 employees globally – including 14,800 in Singapore – with foundational AI skills, DBS will co-develop industry-relevant programmes with IBF that build future-ready capabilities across the sector.

Upskill – DBS and IBF will jointly test-bed and shape workforce interventions to help employees adapt to roles reshaped by AI. Leveraging IBF's Job Redesign and Reskilling Career Conversion Programme and DBS' experience upskilling over 11,000 employees in roles significantly reshaped by AI, the initiative will equip employees with new skills needed to take on redesigned jobs and new ways of working.

Upbuild – DBS and IBF will collaborate on strengthening Singapore's pipeline of young talent for the financial sector. This includes providing students with applied exposure to AI in finance through initiatives such as IBF's Young Talent Programme for AI in Finance, of which DBS is a pioneer partner. DBS has also committed to welcoming more than 500 local young talent in 2026 across its Management Associate, Internship and Traineeship programmes, underscoring its commitment to investing in the next generation and expanding pathways into the sector in the AI era.

Additionally, as AI reshapes work and career pathways, DBS has launched a dedicated Career Advisory Service to provide employees with trusted, human-led guidance to navigate change with confidence. The DBS Career Advisory Service combines the bank's AI-powered career development tools, such as iGrow[1] and iCoach[2], with the human touch to deliver personalised insights which help employees recognise their strengths, explore new possibilities and translate their aspirations into career plans. DBS has an initial cadre of more than 100 Career Advisors from within the bank and with the service made available to all employees in DBS' six core markets for a start.

Lee Yan Hong, head of group human resources, DBS, said, "We see AI as a cognitive enhancer – augmenting what people can do by automating the mundane, taking away repetitive and administrative tasks, summarising and synthetising large amount of data at speed. By removing the toil, AI creates capacity, giving people back time and energy to apply higher order skills such as critical thinking, problem solving and relationship building, so they can solve more complex problems, make better decisions and deliver greater value. At DBS, we use AI to create capacity to drive growth for the bank and for our people. Our ambition is to be an AI-enabled bank with a heart, keeping the human in the lead as work evolves.

"Our philosophy has always been to save people, not jobs. Jobs will change and tasks will evolve, but we are determined to bring everyone along our workforce transformation, from those starting their careers to experienced colleagues navigating their growth with us. Our strategic partnership with IBF brings together our collective expertise and commitment to develop future ready capabilities at scale – equipping our colleagues with the skills, confidence and opportunities to thrive alongside AI, while strengthening the young talent pipeline for the wider financial sector."

Carolyn Neo, chief executive officer, Institute of Banking and Finance Singapore, said, "This comprehensive MOU with DBS puts people at the heart of AI transformation, spanning uplifting essential AI skills, upskilling for new or redesigned roles and upbuilding the young talent pipeline. IBF and DBS will continue to testbed and co-develop workforce interventions to build a skilled and future-ready workforce in an evolving AI-enabled world.

"As a lighthouse financial institution, DBS is showing how our workforce can be supported alongside AI adoption. IBF seeks to strengthen DBS' workforce initiatives through course recognition, support for structured and on-the-job training and workforce transformation. It is through such collaborations between IBF and financial institutions that we can help employees grow and progress in their job roles alongside AI adoption. Technology creates possibilities, but partnership turns them into opportunities for people. IBF looks forward to working with more financial institutions and partners to scale these benefits across the industry."

Re-disseminated by The Asian Banker