DBS Bank and the Singapore Exchange (SGX) are launching a financial education programme aimed at budding retail investors.
It aims to give people who are just beginning to invest the knowledge and skills to improve their financial literacy.
DBS and the SGX Academy, an education division of SGX, will co-develop investment course materials for each consumer segment, comprising interactive webinars, e-tutorials and Web articles.
They have identified three areas to target: enabling women to achieve financial independence at various life stages; starting young adults off on their financial journey by cultivating good investment habits; and helping Generation Xers, those in their 50s and 60s, to supplement their retirement funds through investments.
DBS will use its banking transaction data to identify the investor profile of customers, and match them to specific segments and offer education options.
While the programme is aimed at DBS customers, others can apply as well, the bank said yesterday.
Mr Chew Sutat, SGX's head of equities and fixed income, said: "We are excited to partner DBS, which will strengthen our efforts to enhance financial literacy among individuals in Singapore and open up another channel for non-investors to work their money harder in a well-informed and educated way."
We are aware that a lack of financial knowledge prohibits consumers, especially young adults, from investing their money even though they want to.
MS TAN SU SHAN, group head of consumer banking and wealth management at DBS.
Ms Tan Su Shan, group head of consumer banking and wealth management at DBS, said it was important for the bank's customers to "have a thorough understanding of the fundamentals of investing as it will empower them to... become savvy investors in their own right".
She added: "We are aware that a lack of financial knowledge prohibits consumers, especially young adults, from investing their money even though they want to.
"By combining our strengths with SGX, we look forward to offering budding investors easy access to achieving greater financial literacy in investments and grow the number of active investors in Singapore."