Bank DBS Indonesia ranked first in Indonesia in Forbes’ List of World’s Best Banks and wins other awards | Bahasa

Indonesia, 07 May 2021 - Bank DBS Indonesia was ranked first in Indonesia out of 20 leading banks in the country in Forbes’ list of the World’s Best Banks. The recognition underlined the bank’s achievements and innovations in Indonesia. The World’s Best Banks awards were given to outstanding individuals and institutions around the world.

Forbes, in collaboration with marketing research company Statista, gave the awards to 500 banking institutions in the world based on surveys of 43,000 customers in 28 countries regarding their opinions on their banks. The award evaluation criteria were divided into several categories, namely recommendations, level of satisfaction and five other criteria, including trust, terms & conditions, customer service, digital services, and financial advice.

Forbes and Statista found that trust and digital services were the two major reasons Indonesians chose their banks. Bank DBS Indonesia won the award based on customer testimonials about its products and services that give customers a new way of banking experience without any hassle or what Bank DBS Indonesia calls Live more, Bank less.

This is confirmed by Statista banking analyst Sukyung Kim, states that “Compared to last year DBS Indonesia improved its overall score and improved in almost every subdimension including general satisfaction and recommendation. That made them the No. 1 Indonesia this year."

The award demonstrated DBS Indonesia’s commitment to transformation through innovation and confirmed its achievement in 2020 when it was ranked second in Indonesia in Forbes’ list of the World's Best Banks. Bank DBS Indonesia started its digital transformation in 2017 with the launch of digibank by DBS as a full-fledged digital banking app that allows customers to carry out various banking transactions, from opening an account, making a deposit, foreign currency transaction, to investing in bonds both in the primary and secondary markets without going to a branch (branchless), without the need to fill out physical documents (paperless), and without the need of a wet signature (signatureless).

In addition, Bank DBS Indonesia provides the DBS IDEAL RAPID solution for corporate customers that integrates real-time processing of payments, receivables, and information inquiry into the customer’s business workflows, facilitating business transactions in their network.

Paulus Sutisna, President Director of PT Bank DBS Indonesia, said “It is an honor for us to be ranked first in Indonesia in Forbes’ list of the World’s Best Banks. Our achievements are a recognition of the hard work of Bank DBS Indonesia’s team who are constantly creating innovation and providing the best banking solutions and experience that customers can rely on. We believe that there are opportunities we can pursue in the current condition, especially to accelerate Bank DBS Indonesia's digital services to make banking transactions easier for customers to realise our commitment to be the trusted bank of choice for customers and to lead digital innovation."

Bank DBS Indonesia’s commitment to digital transformation is also carried out internally through a series of change initiatives to establish new work principles such as a hybrid work model, flexible working hours, and employee training in rapidly advancing areas, such as design thinking, artificial intelligence, machine learning, and agile principles, and data-driven working.

Bank DBS Indonesia also won other international awards: Indonesia's Best Trade Finance Provider 2021 award from Global Finance and Best Risk Management Project (Risk Culture Project) at The Asset Triple A Digital Awards 2021.

• Indonesia’s Best Trade Finance Provider Award 2021 from Global Finance

Bank DBS Indonesia was named the Best Trade Finance Provider 2021 in Indonesia by the world's leading financial magazine, Global Finance. This was the third time the bank won an award from the magazine. The bank won the first award in 2018 as the Best Service Provider-Trade Finance and the second award in 2020 as the Best Trade Finance Solution. The awards confirmed Bank DBS Indonesia’s consistency in realising its commitment to providing the best services for customers. This year's award was given in recognition of Bank DBS Indonesia’s excellent response to the uncertainty due to the pandemic that broke out in 2020 by utilizing technology and increasing capabilities to ensure that customers continue to get satisfying services to achieve financial goals.

Specifically, the assessment was based on the opinions of industry experts, corporate leaders, and technology experts by taking into consideration transaction volume, global reach, customer service, competitive pricing, and technological innovation. Bank DBS Indonesia’s appointment as the best trade finance provider confirmed its commitment to corporate customers in the midst of limited face-to-face interaction during the Covid-19 pandemic.

• Best Risk Management Project (Risk Culture Project) at The Asset Triple A Digital Awards 2021

The Asset Triple A Digital Awards are annual awards that recognise financial institutions and technology companies that excel at developing digital experience innovation for customers or consumers. This year, DBS Indonesia was named the Best Risk Management Project (Risk Culture Project) for the “Be Right Project” of the Technology & Operations team. The assessment was carried out by an editorial board who interviewed several financial institutions in Asia over the last few months and listened to their stories on how innovation helped financial institutions survive during the pandemic.

The "Be Right Project" is an effective strategy for managing risk using a people-oriented approach. The project is carried out by building awareness of risks and providing positive feedback for employees to create positive behavior. The “Be Right Project” instills the “be right at the first time” mindset among employees. As a result, the number of operational errors and risk incidents decreased by 72% in 2020 compared to 2019.

Bank DBS Indonesia’s success in reducing risk significantly in percentage terms was the key behind its appointment as a winner of The Asset Triple A Awards this year. The award is proof of Bank DBS Indonesia's commitment to providing genuine services to customers, starting with improving the quality of employees to make them digitally ready, responsive, data oriented, and work fast.

These achievements drive Bank DBS Indonesia to continue to innovate to meet customer needs in any situation. The digital transformation carried out by Bank DBS Indonesia is also expected to be able to contribute to the future of banking in Indonesia, to create banking services that are practical, solutional, and safe.

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About DBS

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 “World’s Best Bank” by Euromoney, “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 12 consecutive years from 2009 to 2020.

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 SG50 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 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.