Bank DBS Indonesia won the Best Payments System Digital Innovation award for the implementation of BI-FAST at the Bank Indonesia (BI) Awards 2023. PT Bank DBS Indonesia President Director Lim Chu Chong received the award at the 2023 Bank Indonesia Annual Meeting (PTBI) that was attended by President of the Republic of Indonesia Joko Widodo, Minister of Finance of the Republic of Indonesia Sri Mulyani, and Governor of Bank Indonesia Perry Warjiyo.

BI Awards 2023 were granted to partners who consistently demonstrate dedication and commitment in making significant contributions to the advancement of Indonesia's financial ecosystem. They also support Bank Indonesia in discharging duties and powers in various fields, such as monetary, payment system, macro-prudential policy, and the development of micro, small, and medium enterprises (MSMEs).

President Director of PT Bank DBS Indonesia Lim Chu Chong said, "We are very grateful to receive this award from Bank Indonesia. This achievement is a recognition of Bank DBS Indonesia's banking capabilities as well as our efforts to become a strategic partner of Bank Indonesia in accelerating the digital economy. Moving forward, we are committed to providing banking products that are easy to use, safe, convenient, and relevant to customer needs to support a more inclusive economy and benefit the general public.

Bank DBS Indonesia is one of the 21 banks that started implementing the first phase of the BI-FAST payment system on December 21, 2021. Starting with 13,000 transactions on its launch, Bank DBS Indonesia has successfully processed 109 million transactions using the BI-FAST system.

Bank DBS Indonesia has an integrated solution that combines various technologies and banking processes to create a system that is connected to the customer's system. This allows systems such as Real Time Application Programming Interface (API) by DBS or DBS RAPID to accelerate BI-FAST-based transactions. Bank DBS Indonesia also optimises all digital banking channels that are accessible to customers, including the digibank by DBS application, DBS RAPID, IDEAL Connect, and DBS IDEAL. In addition, the synergy between all business units and competent support units supports the bank's day-to-day operations.

This is in accordance with Bank DBS Indonesia's vision to be "More like an innovator, less like a bank" which highlights the bank's efforts to innovate to provide a joyful banking experience for customers.

For more information about Bank DBS Indonesia, visit our website www.dbs.id or Instagram @dbsbankid.

About DBS
DBS is a leading financial services group in Asia with a presence in 19 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 “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. 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 and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 15 consecutive years from 2009 to 2023.

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, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

Bank DBS Indonesia wins Best Payments System Digital Innovation accolade at BI Awards 2023