DBS Bank has opened an innovation space in Singapore for up to 100 people as part of its digital transformation agenda and to coincide with Singapore Fintech Week.

DBS Bank is harnessing its digital banking initiatives, officially opening DBS Asia X – an innovation space with co-working spaces, journey rooms and project spaces for up to 100 people.

DBS chief executive, Piyush Gupta, said the space was purpose built and a step forward in Singapore’s Smart Nation agenda.

“DBS Asia X underscores…ongoing commitment to shaping the future of banking and embracing the future of work,” he said.

“DBS employees from all over the region can come together, design and develop iconic customer journeys and work in close collaboration with start-ups and the broader fintech community.”

According to DBS chief innovation officer, Neal Cross, the innovation space was aligned with DBS’ digital agenda for the development of tech solutions and would encompass the collaborative needs of the alternative finance sector.

“[We are] creating a “fintech-like” workforce that is consumed with disrupting and redesigning the customer experience,” he said.

“With our new innovation facility, we will provide yet another agile space to catalyse greater cross-functional collaboration and experimentation in our people to reimagine banking.

“As a crucial component of our digital agenda, we are making good headway.”