DBS Bank launches online account opening service for businesses
DBS Bank has launched a fully automated online account opening service for companies in Singapore.
With this service, the time taken to open a corporate account will be significantly reduced from the industry average of about one to two hours currently, to as little as 15 minutes, the bank said in a statement on Monday.
"A company tends to need accounts in various currencies for their trading needs. Corporate accounts usually have more than one signer, and often with different levels of authority," DBS said.
"In addition, different individuals in the company tend to have differing types of access rights to accounts on Internet banking, depending on their role in the company."