DBS Bank, a leading bank in Asia, today officially unveiled digibank by DBS (digibank), a groundbreaking mobile-led bank, in Indonesia. A revolutionary offering, digibank is paperless and signatureless, and brings together an entire suite of innovative technology – from biometrics to artificial intelligence (AI) – to enable customers to enjoy a whole new way of banking.
The Iaunch follows the successful rollout of digibank in India in April last year, which has enabled DBS to penetrate India’s retail banking market with about 1.5 million new customers acquired to date.
Indonesia’s Minister of Communication and Information Technology – Rudiantara congratulated DBS on its innovations at the digibank launch. He also said that the government foresees that Indonesia’s digital economy will reach USD 130 billion, or about 12% of Indonesia's GDP, in 2020. With Indonesia's economy shifting from a commodity-led to service-based one, this will encourage the rise of the digital economy in the country.
According to the Asosiasi Penyelenggara Jasa Internet Indonesia (APJII) survey, Internet users in Indonesia make up 132.7 million or 51.8% of the total population. The We Are Social survey has found that around 91% of Indonesian citizens have a mobile phone and 47% of them own smartphones. Along with the growing Internet penetration, Indonesia Financial Authority Services (OJK) said that the number of customers using e-banking has increased from 13.6 million customers in 2012 to 54 million customers in 2016. The frequency of Internet banking transactions has also increased, from 150.8 million transactions in 2012 to 406.6 million transactions in 2016.
Said DBS Indonesia President Director – Paulus Sutisna: “Over the past few years, Indonesia has seen a rapid growth in the number of Internet and smartphone users. Along with this, we’ve witnessed a change in customer behaviour and people increasingly want a simple, fast and effortless way to bank. As a bank that is committed to shaping the future of banking, we’re excited to introduce digibank in Indonesia, giving customers the ability to bank anytime, anywhere.”
With digibank Indonesia, customer will experience a seamless banking journey with these groundbreaking features:
Not only does digibank provide hassle-free banking, its more efficient cost structure compared to brick-and-mortar banking allows it to offer better client value:
Digibank customers also benefit from the regional connectivity that DBS offers. This includes the ability to make cash withdrawals in Singapore at any DBS and POSB ATM, without any fees. The ATM menu for these clients is in Bahasa. Digibank customers also get to enjoy promotion programmes in Singapore with their digibank debit card.
Said DBS CEO – Piyush Gupta, “A few years ago, we would not have imagined that it would be possible to launch an entire bank in a mobile phone. With digibank, we’ve built a bank that pulls together the power of biometrics, natural language, artificial intelligence and in-built security in one offering. We believe this mobile-led offering represents the future of banking, and are excited to introduce this in Indonesia, a core market for us in Asia.”
Digibank by DBS is now available for download on AppStore or GooglePlay, with more information available at www.dbsdigibank.co.id
DBS’ efforts to be at the forefront of banking innovation have been widely recognised. Last year, the bank was recognised as “World’s Best Digital Bank” by Euromoney, Best in the World for Digital Distribution by Efma Accenture and “Best Retail Bank in Asia-Pacific” by The Asian Banker. It has also been named “Safest Bank in Asia” for eight consecutive years from 2009 – 2016