DBS has signed a groundbreaking Memorandum of Understanding (MOU) with the Institute of Banking and Finance Singapore (IBF) to enhance the AI skills of Singapore’s financial sector workforce. This partnership, announced on 24 August 2026, marks the first collaboration of its kind between IBF and a financial institution, aiming to uplift, upskill, and upbuild the workforce in preparation for the AI era.
The MOU outlines three key areas of collaboration. Firstly, the “Uplift” initiative will see DBS and IBF provide foundational AI competencies through IBF-recognised programmes, covering AI governance, responsible AI, and practical applications. Secondly, the “Upskill” initiative will focus on adapting employees to roles reshaped by AI, leveraging IBF’s Job Redesign and Reskilling Career Conversion Programme. Lastly, the “Upbuild” initiative aims to strengthen the pipeline of young talent by offering students exposure to AI in finance, with DBS committing to welcoming over 500 local young talents in 2026.
In addition to these initiatives, DBS has launched a Career Advisory Service to guide employees through AI-driven changes. This service combines AI-powered career development tools with human-led guidance, supported by over 100 Career Advisers within the bank.
Lee Yan Hong, Head of Group Human Resources at DBS, emphasised the bank’s commitment to integrating AI whilst maintaining a human-centric approach. Carolyn Neo, CEO of IBF, highlighted the importance of such collaborations in building a skilled, future-ready workforce.
This partnership underscores the strategic importance of AI in the financial sector and sets a precedent for future collaborations aimed at workforce transformation.
