Singapore bank’s multiple digital platforms to ensure increased visibility and engagement
Singapore-headquartered DBS Bank aims to support Investor Education and Protection Fund Authority’s (IEPFA) investor awareness activities by disseminating safety messages via its various digital platforms that links across Asian financial markets.
DBS and IEPFA, under a Memorandum of Understanding (MoU) signed in New Delhi on 19 Feb, will use the bank’s extensive network of branches and ATMs in 19 Indian states, as well as its digital infrastructure, significantly increasing the reach of IEPFA’s investor awareness and protection messages to the end users.
IEFPA CEO Anita Shah Akella underscored the objectives behind the signing of the MoU and emphasised the proactive approach adopted by the IEPFA to engage with users through various channels, aiming to enhance responsiveness regarding the authority’s mandate through its awareness initiatives.
Akella, also Joint Secretary in the Ministry of Corporate Affairs (MCA), highlighted a discernible surge in claim filings as a testament to these efforts and noted the IEPFA’s commitment to efficiently address the increased volume of claims, surpassing previous records by settling more and more claims for rightful claimants.
DBS Bank said it will utilise multiple digital platforms to ensure increased visibility and engagement to impart investor awareness activities of IEPFA, such as:
display of safety messages on ATM screens to reach customers during banking transactions;
featuring safety messages prominently on the bank’s website;
ensuring visibility to online visitors;
sending safety messages through WhatsApp and other messaging platforms to engage with a broader audience;
showcasing safety messages on digital screens within DBS Bank branches;
maximising exposure to customers; and
posting safety messages across DBS Bank’s social media accounts.
The MoU, formalising collaboration between the IEPF Authority and DBS Bank, was carried under the leadership of Lt. Col. Tushar Anand, General Manager of the IEPF Authority, and Rajiv Bagga, Executive Director, and India Head of Government Business at DBS Bank.
Previously, IEPFA has also signed MoUs with the Bank of Baroda and ICICI Bank for similar activities.
Since its inception, the IEPFA has conducted several Investor Awareness Programmes aimed at increasing financial literacy and empowering investors to protect themselves from financial fraud, said the MCA.
IEPFA was set up on 7 Sept 2016 for administering the Investor Education and Protection Fund for making refunds of shares, unclaimed dividends, and matured deposits/debentures, among other things, to investors.
DBS is a leading financial services group in Asia with a presence in 19 markets. DBS Bank has been present in India for 29 years, and is ranked first among the large foreign banks in the country to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank. Fiinews.com
