Making international transactions easy, Bank DBS Indonesia & Topremit collaboration won 'Indonesia Partner Experience of the Year'
Indonesia, 11 Nov 2024 - As a customer-centric bank, Bank DBS Indonesia is committed to providing financial solutions that are relevant to customer needs. This is also in line with its vision to be the 'Best Bank for A Better World'. Recently, Bank DBS Indonesia was awarded the Indonesia Partner Experience of the Year title in the Banking category at Asian Experience Awards 2024. The award was given in recognition of the innovative DBS RAPID or Real Time Application Programming Interface (API) by DBS which has successfully supported more than 200,000 users. The award recognises the success of the DBS RAPID solution in enhancing cross-border remittance services and in providing a superior digital experience.
In early 2023, Bank DBS Indonesia embarked on a strategic collaboration with Topremit to revolutionise cross-border remittance services to enhance customers' digital banking experience. This strategic partnership is set to meet the growing demand for remittances by combining Topremit's industry leadership with Bank DBS Indonesia's cutting-edge financial services.
To create a streamlined remittance experience, Bank DBS Indonesia implements APIs on three Topremit features:
FX Conversion.
Provides real-time foreign exchange rates, allowing customers to manage their funds more effectively.
Telegraphic Transfer.
Facilitates secure and fast cross-border foreign currency transfers and is therefore more reliable.
Domestic payments.
Facilitates real-time transactions for individuals and businesses
“It is an honour for us to receive this award, which is a testament to our commitment to growing with our customers and ecosystem partners, including Topremit, through innovative solutions such as DBS RAPID. Through this service, Bank DBS Indonesia collaborates with Topremit to identify challenges they face, then transforms those challenges into opportunities to improve service quality for customers. Going forward, we will continue to work with the best partners to drive financial inclusion and make a real impact on the people of Indonesia,” said Head of Global Transaction Services at PT Bank DBS Indonesia
Dandy Pandi.
In June 2023, the collaboration reached a significant milestone with the approval of the National Open API Payment Standard (SNAP), followed by a live service launch in July 2023. This rapid deployment demonstrates the readiness and efficiency of Bank DBS Indonesia's digital infrastructure, which has effectively supported Topremit's operations from the outset.
By virtue of this collaboration, Topremit’s transaction volume increased from 30,000 in the second half of 2023 to 70,000 in the first half of 2024 while its transaction value rose from Rp150 billion to Rp300 billion in the same period. In addition, the integration of DBS RAPID has improved efficiency of transactions on Topremit by 89.54%.
“We are deeply honoured to receive this award with Bank DBS Indonesia. This collaboration has enabled thousands of users to send money to different countries more easily and quickly through an efficient and innovative digital solution. We believe that collaboration and technology acceleration are key to achieving our vision to be the leading cross-border remittance solution. Therefore, we greatly appreciate Bank DBS Indonesia's support in assisting Topremit's business operations while expanding and scaling our business to serve more customers globally,” said Topremit Co-founder & Chief Executive Officer
Hermanto Wie.
The Asian Experience Awards 2024 has further boosted Bank DBS Indonesia’s confidence in its role as facilitator to support customers' journey to achieving their financial goals. This is done with a 'spark' or passion to bring the best financial solutions to customers, allowing them to enjoy a pleasant banking experience so that they can live a more meaningful life (Live more) without the hassle of banking (Bank less).
For more information about Global Transactions Services Bank DBS Indonesia, please visit
dbs.id/id/corporate/solutions
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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 16 consecutive years from 2009 to 2024.
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.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services that focus on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees, and the community towards a sustainable future.
PT Bank DBS Indonesia
is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
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 businesses for impact: enterprises 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 underserved communities with future-ready skills and helping them to build 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.
DBS Bank Ltd | 12 Marina Boulevard, DBS Asia Central @ Marina Bay Financial Centre Tower 3,
Singapore 018982 | Co. Reg. No. 196800306E
Tel: 65.6878 8888 | www.dbs.com
