Religious holidays in 2020 felt totally different. The holidays that are synonymous with family reunions, homecoming, and family feasts, have turned into quite a luxury. The ban on annual homecoming kept families separated during the holidays.
One way, however, to maintain the emotional connection and tradition with relatives back home was by sending gifts through e-commerce or transferring money by digital technology. The rise of digital financial transactions has driven e-wallet transactions through e-commerce in Indonesia to reach 17%.
During this pandemic, one of the fintech companies, OY! Indonesia, took part in advancing financial literacy, which drove national economic progress, and simplified access to financial transactions for everybody in the rural areas, including those that have no ATM. By using Tarik Tunai feature in OY! application we can withdraw our cash even in remote areas, where there is no ATM. This convenience helped maintaining the connection during pandemic.
DBS is proud to become a part of OY! transformation through DBS IDEAL & RAPID as digital solutions that help to integrate transaction in that application. OY! has evolved from a chatting application that had real-time money transfer feature to become financial solution, which is easy to use in managing daily financial transactions. Now there are more people, who become more familiar with various financial products of banking or fintech.
OY! Indonesia has been able to provide easy financial transaction for its users despite the implementation of Large-Scale Social Limitation (PSBB), which has forced OY! to instruct its employees to work from home. By using DBS IDEAL & RAPID everything became easy, the transactions have been conducted without interruptions, and the end-users were successfully served well.