DBS Bank’s Corporate customers, can now access banking services seamlessly and in real-time using the bank’s Application Programme Interface (API), . DBS IDEAL RAPID which offers bank account verification, account balance enquiry, payment and collection services. With DBS IDEAL RAPID, corporate customers will have the ability to build their banking and financial operations around their core infrastructure or application.
“DBS’s corporate customers, can now check into their account balances anywhere and anytime through their mobile DBS services app, receive notification alerts on payment status within minutes, and any pay out from investment funds,” said Iwan Rusli, Head of Global Transaction Services of PT Bank DBS Indonesia.
In particular, DBS IDEAL RAPID provides insurance companies with an instant electronic payment service for settling travel insurance claims, replacing expensive, insecure cheques and manual processes with efficient, automated approvals, controls and immediate payment processes.
On 7 August 2018, DBS Indonesia hosted Insurance Day 2018 event with the theme “Reshaping Cash Management: Open API for Future Banking”. The event was attended by 36 participants from 16 different Insurance companies and was led by two Key Speakers Ramesh Sankar, DBS Group Head of GTS Digital Channel and Destya Danang Praditya, Head of Payment and Financial Services of Bukalapak.com.
Jodie Pratomo, IT Manager of Sunlife said after the event, “My perspective of IDEAL RAPID is actually very positive, especially for insurance market player like Sunlife Insurance. We found it very relevant to Sunlife Insurance since it is aligned to our focus to digitalise every possible aspect of our business. We are very grateful to be invited to such event where new initiatives are being introduced. It is such an eye opener!”
Adds Rusli, “DBS focus is on reimagining banking and enabling customers to ‘live more, bank less’.’ DBS believes with DBS IDEAL RAPID, it will now be easier for our customers to revamp their sales and payment processes, while at the same time giving their customers a much more streamlined and joyful customer experience.”
“RAPID Real Time On-line Payment will enable our corporate customers to make payments to their beneficiaries in seconds and get confirmation in an instant. These new customer experiences will surely be a game changer,” Rusli emphasised.
DBS recent awards from Euromoney 2018 as the World’s Best Bank for SMEs, World’s Best Digital Bank, and Asia’s Best Bank for Transaction Services, validate the Bank’s leadership and is testament of how DBS has reimagined banking.