Business digitalization is changing the competitive landscape in many industries. Digitally savvy customers are demanding more while threats of digital disruptions from new entrants are rising. The full article describes how DBS, a large Asian bank, responded to digital threats and opportunities by adopting a digital business strategy. It identifies the capabilities needed and provides lessons for organizations aspiring to pursue a successful digital business strategy. Most organizations respond to new digital threats and opportunities in an ad hoc manner within some organizational functions, but there is a growing sense that functionally oriented initiatives fail to maximize the potential of digital business strategy. To respond effectively to the threats and opportunities arising from digitalization, companies need a more holistic and integrated approach that develops capabilities in the areas of leadership, operations, customer needs and innovation. This is the approach followed by DBS.