The mBanking electronic securities application, the first such service in Singapore, will allow customers to do anything from make their IPO application, to viewing their banking and credit card accounts, transferring funds and paying bills via their smart phones.

DBS currently has over 450,000 mBanking account holders, making it the market leader in Singapore for mobile banking services.

“DBS has been innovating in the mobile banking space since 2010 to meet our customers’ evolving banking needs. Our mBanking suite currently has more than 30,000 logins daily. With the mBanking ESA service, our customers will be able to subscribe to IPOs from their mobile phones,” said Sandeep Lal, head of consumer and internet banking, DBS Bank.

This innovation is the latest in a slew of technological firsts for DBS in the Singapore equity capital markets.

In 1993, DBS introduced the world's first and only electronic IPO application services through its automated teller machines (ATMs) ahead of the DBS-managed SingTel IPO.

DBS dominates the retail distribution reach with a huge majority of Singapore’s retail applications for IPOs made through the DBS/POSB ATM network. About 70-80 per cent of Singapore’s total retail applications for the public offer tranche of IPOs come through the DBS/POSB ATM network.