DBS runs a fintech apprenticeship program with local polytechnics
As part of efforts under the Techskills Accelerator (TeSA) for ITE and Polytechnics Alliance (“TIP Alliance”), set up by the Infocomm Media Development Authority (IMDA) together with industry partners, DBS today announced the launch of a structured three-year apprenticeship program to prepare polytechnic students for technology roles in the bank.
Developed in partnership with Temasek Polytechnic and Nanyang Polytechnic, the DBS FinTech Apprenticeship Program will take in 20 students this year for a start, with plans to scale the program up to include more students across all five polytechnics in Singapore. The new program also contributes to Singapore’s plans to build a robust pipeline of local fintech talent as outlined in the national Financial Services Industry Transformation Map 2025[1].
Jimmy Ng, Group Chief Information Officer and Head of Technology & Operations at DBS, noted that as Singapore strives to be a leading global financial centre, financial institutions have a critical role to play in investing in the country’s human capital. “As a key employer in Singapore, DBS remains committed to developing a robust pipeline of local talent for the banking sector, particularly in growth areas where finance and technology intersect. Our collaboration with Temasek Polytechnic and Nanyang Polytechnic diversifies the pathways polytechnic students can take to enter in the exciting world of banking and finance. We also hope that the DBS FinTech Apprenticeship Program provides a useful blueprint for industry and educational institutions to build more partnerships, which we believe will be increasingly important in nurturing the next generation of future-ready talent.”
Nanyang Polytechnic Principal and CEO Jeanne Liew shared, “We are delighted to partner with DBS on this apprenticeship program. Our students can look forward to a meaningful experience, learning on the job from fintech professionals, and practicing multiple competencies – such as data management, cloud computing and artificial intelligence – that come together for this role. This reflects our own radical teaching approach where, rather than subjects, we teach different interlocking skills needed for actual work tasks.”
Peter Lam, Principal and CEO of Temasek Polytechnic, said: “The apprenticeship program with DBS provides a unique and important opportunity for our students to work with and be mentored by DBS staff in a real-world environment. To be immersed in the working culture of banking and fintech is an excellent way for our students to deepen their understanding of tech job roles within the financial services industry. We thank DBS for this engaging collaboration which will further open up the possibility of exciting career choices and opportunities within DBS and the fintech sector.”
Kiren Kumar, Deputy Managing Director, IMDA said, “Technology skills are in demand in technology companies as well as companies across all sectors of the economy. We are delighted that DBS, a member of the TIP Alliance, is launching this apprenticeship for the financial sector. This will support polytechnic students to deepen their skills during their studies so that they are well equipped to take on technical roles when they start their careers We hope that more companies will embark on similar initiatives to support ITE and polytechnic students to deepen their skills to take on technical roles and careers.”
About the DBS FinTech Apprenticeship Programme
Students on the DBS FinTech Apprenticeship Program will gain practical knowledge and industry experience throughout their three years of polytechnic education to prepare them for technology roles in the financial sector:
• Years 1 to 3 – each year the students will attend masterclasses delivered by the bank’s senior engineers to gain exposure to how the technology is deployed in the banking and finance sector. To ensure that students learn from the industry’s leading experts, lecturers will be selected from the bank’s Distinguished Engineer Program[2].
• Year 2 – students will receive mentorship from the bank’s senior engineers during their school-based project, which is designed to provide greater exposure to how technologies such as AI/ML and blockchain have reshaped banking and finance.
• Year 3 – the students will participate in a full-time apprenticeship at DBS for up to 12 months, where they will put theory into practice and gain a better understanding of how technology drives economic innovation. Students can be placed in technical roles such as application development, AI/ML, data and risk technology for the apprenticeship. Students must also complete at least 50 hours of structured learning and certification courses at DBS Tech Academy, the bank’s internal technology training institute.
After graduating from the DBS FinTech Apprenticeship Programme, students will undergo a final technology hackathon to be considered for direct placement in a permanent role at DBS.
A firm believer in hiring for skills and relevant experience, DBS’s recruitment process goes beyond degree qualifications to assess a candidate’s skills, attitude and cultural fit for a role. Since 2017, about 20% of the bank’s hires have been non-graduates.
Chin Yi Bing, Senior Associate, Cybersecurity, DBS, joined the bank in 2016 as a graduate of Singapore Polytechnic. “After receiving my diploma in Infocomm Security Management, I joined the DBS cybersecurity team through what was then the SkillsFuture Earn and Learn programme. I have since been involved in many exciting projects to help make digital banking more secure for our customers, and with the guidance and support of my colleagues, I was able to hone both my technical and soft skills to grow as a cyber security professional. It is said that skills are the new currency of the world and I firmly believe that having the right attitude and a growth mindset are essential ingredients for anyone looking to develop a technology career.”
