Take a trip back to 1993 with DBS mascots Xing and Jaan as they explore a pivotal moment in Singapore’s financial history—the launch of the Electronic Shares Application (ESA). Through Gen Voice AI, this episode of the Singapore's Firsts podcast uncovers how DBS transformed the way Singaporeans participated in the stock market, beginning with the monumental Singtel IPO.
Before ESA, applying for shares was a tedious and time-consuming process that involved long queues and heaps of paperwork. However, the introduction of ESA during the Singtel IPO revolutionised the system, allowing over a million Singaporeans to apply for shares quickly and conveniently via ATMs. This innovation not only simplified the application process but also set the stage for future advancements in digital banking.
Join Xing and Jaan as they dive into the challenges faced by the DBS team, the innovative thinking that led to the creation of ESA, and the lasting impact this breakthrough had on Singapore’s financial landscape.
Profiles
Ms Elsie Foh joined the bank in 1974. She played a significant role in the introduction of ESA, leveraging DBS's extensive ATM network to enable this groundbreaking innovation.
Mr Kan Shik Lum joined the bank in 1982. He was deeply involved in the development and implementation of ESA. His leadership in forming the taskforce and coordinating with various departments, including technology and legal teams, was crucial in bringing ESA to life.
Find out more about our heritage: https://www.dbs.com/dbs-heritage/stories.html
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