Bank DBS Indonesia and Traveloka encourage people to manage travel funds smartly through digibank by DBS 'Live & Learn' | Bahasa

Indonesia, 23 Aug 2023 - Spending time with family can be healing, whether by simply taking time to rest and relax or exploring new places. With a wide range of holiday options and destinations available, we need to be careful in managing our finances to ensure a wonderful holiday. To help people enjoy their vacation, Bank DBS Indonesia held the digibank by DBS 'Live & Learn' programme to improve the financial literacy and financial inclusion of the people, including to MAMS (Mama Anak Makin Seru), a community sponsored by Traveloka Xperience. With the theme ‘Foolproof Traveling with Families’ (Traveling Sekeluarga Anti-Boncos)’, the event featured financial experts who shared their insights with mothers to help them manage their vacation budget more effectively.

Statistics Indonesia (BPS) data show that domestic tourists made 433.57 million trips to various destinations in Indonesia in the first half of 2023, up by 12.57 percent yoy1. The period January-April 2023 saw 19.2 million domestic passengers and 4.4 million international passengers, a surge by 32.84 percent and 564.12 percent respectively compared to the previous year.

Managing your travel budget can be a challenge, especially with so many other top priorities in life. This can cause you to feel guilty when creating a travel budget to maximize your travel experience. Here are some smart ways to manage your vacation fund: 

Have you ever overspent on your vacation, causing your travel budget to swell? If so, it's time for you to set aside your travel funds early using the Dompet Maxi feature that enables you to create up to 20 different wallets and personalize their names according to their allotments with high interests of up to 7% through the Maxi Booster programme (T&Cs apply). 

In addition, use your digibank Credit Card so you can convert your transactions into installments you can pay over 60 months to give you greater flexibility in managing your expenses. Unused funds can be invested starting from Rp100,000 in more than 120 mutual fund and bond investment products according to your risk profile

 2. Prioritize the security of your transactions while traveling

 

Erline Diani, Head of Digital Banking at PT Bank DBS Indonesia, said, "We see the return of domestic and international tourism as a sign that economic conditions are improving. However, to balance between wants and priorities, customers need to manage their budget smartly so that they can enjoy their vacation to the fullest without worrying and feeling guilty about their future plans. Therefore, digibank by DBS offers complete digital banking features (full-fledged digital banking) to help customers live a more meaningful life without the hassle of banking or to 'Live more, Bank less'.”

Enhancing financial literacy education efforts

The results of the 2022 National Survey on Financial Literacy and Inclusion (SNLIK) show that Indonesia’s financial literacy index was 49.68 percent, up from 38.03 percent in 2019. Meanwhile, this year, the country’s financial inclusion index was 85.10 percent, up from 76.19 percent in 2019. This indicates a narrowing gap between financial and inclusion, from 38.16 percent in 2019 to 35.42 percent in 2022. Another encouraging result, by gender, for the first time, women’s financial literacy index was higher, at 50.33 percent, compared to men’s index, which was 49.05 percent. The result was attributed to the efforts of the Financial Services Authority (OJK) to make women a priority target in the strategic financial literacy direction.

In view of the developments in public financial literacy rate, Mona Monika, Head of Group Strategic Marketing & Communications at PT Bank DBS Indonesia, said, "As a purpose-driven bank, we are committed to providing financial literacy and inclusion education to the public in accordance with the government's agenda. Essentially, financial literacy is not just a skill, but a necessary tool that helps individuals to manage their finances. By understanding their financial situation, people can make informed decisions, build a strong foundation, navigate life transitions, and protect themselves against fraud so that they can manage their finances to ensure a secure financial future and contribute to positive economic growth."

Collaboration with strategic partners is important to embrace communities and make a broader positive impact. Previously, Bank DBS Indonesia established strategic cooperation with various e-commerce and startup partners to promote digitalisation through the 'More Innovation Less Limitation' campaign. Additionally, Bank DBS Indonesia conducts a series of financial literacy education programmes with various topics for SMEs in several cities. The programmes involve employees who shared their expertise as part of the People of Purpose volunteer movement.

To expand financial inclusion, digibank by DBS holds the 'Live and Learn' programme periodically to educate people on diverse topics such as investment and customer data protection.



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