Providing banking experience without obstacles, Bank DBS Indonesia Launch IDEAL RAPID
Indonesia.17 Jul 2019
DBS Bank collaborates with corporations to facilitate business opportunities quickly and digitally
Indonesia, 17 Jul 2019 - IDEAL RAPID (Real Time Application Programming Interface by DBS), integrates real-time processing of payments, receivables and information enquiry into the customer’s business workflows, facilitating business transactions within their ecosystem. The real time transaction fulfillment not only drives efficiency for our clients and cost savings, but also provide an unprecedented level of customer experience that will position our customers as market leaders in their industry.
Available in 6 core DBS markets around Asia, IDEAL RAPID has gained its momentum as the future of digital solutions for PT Bank DBS Indonesia Corporate customers. In less than a year since it was first launched in Indonesia, there has been more than 15 customers that have signed up with the solution, spanning over various industries: ranging from start-ups, e-commerce, fintech, insurance, multi-finance, healthcare, manufacturing and others.
DBS approach in providing solutions to our corporate clients are adopting 4D methodology – Discover, Define, Develop, Deliver - we co-create the solutions with our customers instead of force-fitting the solutions onto customer’s workflow.
In supports of the buildup of Indonesia Digital Economy and DBS intent to become the Digital Bank of choice in Indonesia, PT Bank DBS Indonesia started the partnership with Bukalapak, in which the major activity of the IDEAL RAPID solution is DBS Real-Time Online (RTOL) payment. This has enabled them to provide instant fulfillment with the 24/7 access for their transaction activities.
Natalia Firmansyah, Bukalapak Chief Financial Officer, added, “In the past, we must allocate resources during weekends to prepare payment documents and execute the transactions. With DBS RAPID RTOL digital solution, there is no longer any need to do that because everything is done automatically by the system. Our merchants can make payment requests anytime using their Bukalapak apps and will immediately receive the fund without any glitch. Bukalapak has embarked on a digital journey with DBS Indonesia, which has transformed the way payments were made to our merchants, from intraday payments to real-time 24/7 online payments. Apart from that, we are also in the process of synchronizing our system with DBS RAPID capabilities: Bank Account Validation, Bank Balance Enquiry, Account Activity and Credit Confirmation.”
“The demand of the banking industry is now based on the development and implementation of the three pillars; Digitization, Speed and Interconnectivity. Together, these pillars offer streamlined digital experience to customers, in which reflected through IDEAL RAPID solution. This innovative solution allows corporate customers to grow their business and to incorporate banking services into their core infrastructure or application seamlessly and in real-time using the Application Programme Interface (API). This is the main advantage of IDEAL RAPID for corporate customers,” said Iwan Rusli, Head of Global Transaction Service, PT Bank DBS Indonesia.
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for ten consecutive years from 2009 to 2018.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 26,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.