DBS Bank:

Designing Wealth Management Services for the Masses

(March 2018 - July 2018)

Finance / Strategy / Ethnography   


Design Researcher

(Team of 5)

Co-Design Workshop with DBS Bank Stakeholders


DBS Bank (based in Singapore) saw an opportunity to extend it’s wealth management services to the rising middle class in Indonesia. However, DBS Bank has traditionally catered to the elite and many Indonesians see investing as something exclusive to the wealthy.

Digibank (a digital division of DBS Bank) has launched and received a lot of participation in Indonesia but has yet to gain traction in the wealth management services.


Design strategies and low to mid fidelity prototypes for DBS to offer relevant wealth management services that reach and cater to the different groups of Indonesian masses.


1. Secondary Research (Market Research)

2. Exploratory Research (In-depth Interviews)

3. Synthesis (Findings & Insights)

4. Co-Design Ideation & Prototyping Workshop 

5. Testing

6. Final Deliverables (Full Report, Strategic Plan)

We conducted an exploratory research with a sample of 20 individuals from different backgrounds and varying experience with Wealth Management products. 

Rather than relying solely on market research, we focused on conversations and tools to gain insights from the users.  

We also organized a co-design ideation and prototyping workshop with DBS Bank to ensure the outcome is aligned with their vision and to include stakeholders in the process. 

In the end, we tested 35 feature prototypes with the 20 individuals to get their insights on the product presented. 


The Wealth Management Journey
︎ Contrary to popular belief, age isn’t a motivating factor for people to start investing on Wealth Management Products. In addition to income level, mindset and long-term vision are the two pivotal factors for people to start investing.

︎ More knowledge = More understanding = Increased trust.

︎ The spirit of “gotong royong”–a collective Indonesian mindset–gives people a sense of safety in group or mass decisions. When it comes to investing, the idea of winning or losing together (e.g. Mutual Funds) is intriguing for first-time investors.

︎ Income, knowledge, and mindset matters most in influencing Indonesians financial approach.

Perception towards Wealth Management:

💵 Indonesians have a strong investment driven mindset, regardless of what stage they are in life. However, investment does not always equal to WM products.

🏡 Land is the ultimate investment goal for most Indonesians. Land is seen as a legacy that can be passed down for generations and is believed to be a steady source of passive income.

🤴🏻 Many Indonesians hold the perception that wealth management is solely restricted to the wealthy. Because of this sentiment, people tend to be unmotivated to allocate their money for investment purposes.

👻  Due to the deep rooted fear and trauma from the past financial crisis and scams, non-physical assets are thought to be high-risk investments for many Indonesians.


Our vision is to design a connected service of banking products that capture loyalty and trust from early stage savers and help them transition into investors over time.
Have a nice day!