Bank DBS Indonesia collaborates with Mirae Asset to create 1 million new capital market investors | Bahasa
Indonesia.24 Sep 2024.0 min read
Indonesia, 24 Sep 2024 - PT Bank DBS Indonesia and PT Mirae Asset Sekuritas Indonesia have joined forces to offer the Customer Fund Account (RDN) service. The service was initiated to facilitate investment and increase capital market literacy, and is expected to lure one million new investors to the capital market in the next five years. The service launch was attended by Director of Information Technology and Risk Management at PT Bursa Efek Indonesia (BEI) Sunandar; Director of Infrastructure Development and Information Management at PT Kustodian Sentral Efek Indonesia (KSEI) Dharma Setyadi; PT Kliring Penjaminan Efek Indonesia (KPEI) Director Antonius Herman Azwar; Consumer Banking Director at PT Bank DBS Indonesia Melfrida Gultom; PT Mirae Asset Sekuritas Indonesia Director Tomi Taufan, and other executives of Bank DBS Indonesia and Mirae Asset.
“The RDN service, initiated by Bank DBS Indonesia and Mirae Asset, is a form of our commitment to supporting the democratisation of wealth to help customers navigate their future journey and capture investment opportunities. Moreover, through the RDN service, we hope to strengthen and advance Indonesia’s capital market,” said Consumer Banking Director at PT Bank DBS Indonesia Melfrida Gultom.
Melfrida added that these efforts were made with the spirit or 'spark' to become a Trusted Wealth Manager with a variety of smart, safe, reliable, and relevant investment solutions. The RDN service by Bank DBS Indonesia and Mirae Asset offers convenience with one payment account for all capital market activities that can be accessed through the Mirae Asset application and the digibank by DBS application. This product also offers various benefits such as competitive interest rates, no minimum balance requirement, and zero admin fees.
In July, Bank DBS Indonesia was appointed by PT Kustodian Sentral Efek Indonesia (KSEI) as an RDN Administrator Bank and Payment Bank. For the period 2024-2029, all RDN Administrator Banks will also act as KSEI Payment Banks so that they can process the settlements of securities transactions in the capital market and provide alternative intraday facilities for Securities Companies.
As an RDN Administrator Bank, Bank DBS Indonesia's partnership with Mirae Asset aims to provide faster and more efficient access for customers to invest in the Indonesia capital market. It also demonstrates the strong synergy between the capital market and banking industries in supporting market development and deepening and in enhancing financial inclusion.
To support the settlement of capital market transactions, Bank DBS Indonesia as a Payment Bank provides business solutions for securities companies through IDEAL Connect, a host-to-host digital banking solution for corporations. Head of Global Transaction Services at PT Bank DBS Indonesia Dandy Indrawardhana Pandi said, “Bank DBS Indonesia's digital business solutions are equipped with advanced features to fully support optimal transaction capabilities. With our inauguration as a Payment Bank by KSEI, we are optimistic that we can support securities companies in managing their payment needs more efficiently.”
The capital market’s positive performance has continued as indicated by, among other things, an increase in the number of investors. KSEI June 2024 data show that there are 13 million investors in the capital market with an average daily transaction of Rp12.3 trillion. The number of investors has continued to increase by an average of 38.7 percent per year since 2020, with local investors accounting for 99 percent of them. Consistent with this data, YouGov research on Bank DBS Indonesia in 2023 showed that 31 percent of members of the upper-class group make investing a priority after saving (51 percent) in managing their assets. The same study noted that 41 percent of people use online apps to access financial services, underscoring the importance of integrating technology into investing activities.
Mirae Asset is one of the leading securities companies in Indonesia that offers various investment services such as securities brokerage, underwriting, mutual funds, bonds, exchange-traded funds (ETFs), and priority wealth management. In 2023, Mirae Asset was one of the securities companies with the largest Adjusted Net Working Capital (MKBD), at around Rp1.4 trillion.
Mirae Asset is also one of the largest and best securities companies in Indonesia and is the most active exchange member in the stock market with one of the largest trading volumes and frequencies in 2021, 2022, and 2023. Currently, Mirae Asset is a licensed Broker-Dealer (PPE), Underwriter (PEE), and Mutual Fund Selling Agent (APERD).
PT Mirae Asset Sekuritas Indonesia Director Tomi Taufan said he is optimistic and enthusiastic about the cooperation with Bank DBS Indonesia as a licensed RDN Administrator Bank and Payment Bank.
“This collaboration aims to expand the investment product line that customers can utilise in managing their wealth and achieving their financial aspirations. Currently, we, together with Bank DBS Indonesia, are also developing a multi-currency feature (IDR and USD) for the RDN to open up new investment opportunities for the general public and to offer significant benefits for investors,” said Tomi.
The partnership between Bank DBS Indonesia and Mirae Asset is expected to further expand collaboration to offer better investment solutions and democratise wealth. The partnership will bring new collaboration opportunities such as bonds and co-branded savings accounts so that high-quality financial options can be accessed more easily and conveniently by all customers.
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 Indonesia is ranked second in the top as World’s Best Bank in Indonesia for three consecutive years from 2020 to 2022.
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 in the corporate, SME and consumer banking segments that focuses 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.
“The RDN service, initiated by Bank DBS Indonesia and Mirae Asset, is a form of our commitment to supporting the democratisation of wealth to help customers navigate their future journey and capture investment opportunities. Moreover, through the RDN service, we hope to strengthen and advance Indonesia’s capital market,” said Consumer Banking Director at PT Bank DBS Indonesia Melfrida Gultom.
Melfrida added that these efforts were made with the spirit or 'spark' to become a Trusted Wealth Manager with a variety of smart, safe, reliable, and relevant investment solutions. The RDN service by Bank DBS Indonesia and Mirae Asset offers convenience with one payment account for all capital market activities that can be accessed through the Mirae Asset application and the digibank by DBS application. This product also offers various benefits such as competitive interest rates, no minimum balance requirement, and zero admin fees.
In July, Bank DBS Indonesia was appointed by PT Kustodian Sentral Efek Indonesia (KSEI) as an RDN Administrator Bank and Payment Bank. For the period 2024-2029, all RDN Administrator Banks will also act as KSEI Payment Banks so that they can process the settlements of securities transactions in the capital market and provide alternative intraday facilities for Securities Companies.
As an RDN Administrator Bank, Bank DBS Indonesia's partnership with Mirae Asset aims to provide faster and more efficient access for customers to invest in the Indonesia capital market. It also demonstrates the strong synergy between the capital market and banking industries in supporting market development and deepening and in enhancing financial inclusion.
To support the settlement of capital market transactions, Bank DBS Indonesia as a Payment Bank provides business solutions for securities companies through IDEAL Connect, a host-to-host digital banking solution for corporations. Head of Global Transaction Services at PT Bank DBS Indonesia Dandy Indrawardhana Pandi said, “Bank DBS Indonesia's digital business solutions are equipped with advanced features to fully support optimal transaction capabilities. With our inauguration as a Payment Bank by KSEI, we are optimistic that we can support securities companies in managing their payment needs more efficiently.”
The capital market’s positive performance has continued as indicated by, among other things, an increase in the number of investors. KSEI June 2024 data show that there are 13 million investors in the capital market with an average daily transaction of Rp12.3 trillion. The number of investors has continued to increase by an average of 38.7 percent per year since 2020, with local investors accounting for 99 percent of them. Consistent with this data, YouGov research on Bank DBS Indonesia in 2023 showed that 31 percent of members of the upper-class group make investing a priority after saving (51 percent) in managing their assets. The same study noted that 41 percent of people use online apps to access financial services, underscoring the importance of integrating technology into investing activities.
Mirae Asset is one of the leading securities companies in Indonesia that offers various investment services such as securities brokerage, underwriting, mutual funds, bonds, exchange-traded funds (ETFs), and priority wealth management. In 2023, Mirae Asset was one of the securities companies with the largest Adjusted Net Working Capital (MKBD), at around Rp1.4 trillion.
Mirae Asset is also one of the largest and best securities companies in Indonesia and is the most active exchange member in the stock market with one of the largest trading volumes and frequencies in 2021, 2022, and 2023. Currently, Mirae Asset is a licensed Broker-Dealer (PPE), Underwriter (PEE), and Mutual Fund Selling Agent (APERD).
PT Mirae Asset Sekuritas Indonesia Director Tomi Taufan said he is optimistic and enthusiastic about the cooperation with Bank DBS Indonesia as a licensed RDN Administrator Bank and Payment Bank.
“This collaboration aims to expand the investment product line that customers can utilise in managing their wealth and achieving their financial aspirations. Currently, we, together with Bank DBS Indonesia, are also developing a multi-currency feature (IDR and USD) for the RDN to open up new investment opportunities for the general public and to offer significant benefits for investors,” said Tomi.
The partnership between Bank DBS Indonesia and Mirae Asset is expected to further expand collaboration to offer better investment solutions and democratise wealth. The partnership will bring new collaboration opportunities such as bonds and co-branded savings accounts so that high-quality financial options can be accessed more easily and conveniently by all customers.
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 Indonesia is ranked second in the top as World’s Best Bank in Indonesia for three consecutive years from 2020 to 2022.
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 in the corporate, SME and consumer banking segments that focuses 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.
