Bank DBS Indonesia optimises digital services during Ramadan | Bahasa

Transactions up 20% in Q1 2022

Indonesia, 28 Apr 2022 - Bank DBS Indonesia optimised its full-fledged digital banking services during Ramadan 2022 through the digibank by DBS application to meet customers’ transaction needs. Results of the SurveySensum Ramadan Consumer Insight 2022 show that public consumption increased significantly to near normal pre-pandemic level. Compared to last year, 57% more people increased their Ramadan budget while the total amount of public spending rose by 10% compared to 2019 before the pandemic.

Bank DBS Indonesia was also keen to observe the growing trend, reporting encouraging developments with consumers starting to resume pre-pandemic behavior as Covid-19 restrictions are being eased. Post-pandemic lifestyle changes that continued through Ramadan were supported by digital banking that ensures customer convenience in conducting daily transactions. The positive development was indicated by digibank credit card’s near-normal retail transaction data for March 2022, with a shift toward e-commerce platforms and international transactions leading to a 20% increase in total retail transactions compared to the same period last year.

In terms of debit cards and daily transactions, Bank DBS Indonesia reported a stable transaction growth compared to last year. In the first quarter of 2022, offline spending rose by 26%, supported by spending on culinary food, basic necessities and clothing. The digibank by DBS application was used mostly to conduct transactions on e-commerce platforms, order food online, and subscribe to entertainment channels. The digibank by DBS application also offers benefits to customers in the form of various promotions for daily transactions, including cashback for debit card transactions as well as the Pay & Buy feature for e-money top-ups and payment of monthly bills, among other things.

Director of Consumer Banking Group at PT Bank DBS Indonesia Rudy Tandjung said, "We are pleased to see the economy recovering gradually as consumer buying behavior is improving. Through Bank DBS Indonesia's digital capability, 'This is DBS digibanking', we are confident that customers can optimise the digibank by DBS application for their daily banking needs, not just to check their account balances and transfers but also to invest so that they can 'level-up' their finances. There are a range of features to ensure that customers can carry out banking transactions easily, comfortably, and safely according to our principle 'Live More Bank Less'."

To meet customers’ needs for instant services during Ramadan and the Eid al-Fitr holiday, Bank DBS Indonesia offered an easy digital solution for every need through digibank by DBS. The application enables customers to open a savings account, make deposits and investments, set up credit card payments, and apply for non-collateral loans (KTA) with just one click. The digibank by DBS application makes it easy for customers to make various digital transactions, including the breakthrough online digital credit card application that offers an approval in just 60 seconds.

The growth of the credit card segment is increasingly exciting with the rising popularity of BNPL (buy now, pay later) in Indonesia, which is expected to continue through 2022 as people look forward to improving the quality of life after the pandemic. The BNPL scheme is no longer used to meet primary needs only as it has become an option for people to support their fast-paced lifestyle, from shopping for electronic equipment and fashion needs to planning for holidays through e-commerce. There has been a 30% hike in the number of people who have increased their online spending to meet their daily needs. The BNPL scheme is increasingly in demand because it ensures convenience of transactions, it’s fast, and offers installment options that can help people manage their cash flow while meeting their lifestyle needs.

Head of Card Business PT Bank DBS Indonesia Ari Lastina said, "The digibank by DBS application pays attention and listens to changes in customer behavior, and continues to innovate, especially in creating a pleasant consumer journey. Through the convenience of the 60-second approval, the digibank Black and LiveFresh digital credit cards allow customers to use the fast and secure three-month BNPL plan at 0% interest, with the advantage of converting all retail transactions at any merchant at home and abroad into a BNPL plan. Through our digital platform, we believe customers can be more comfortable and benefit from doing transactions using the digibank credit card.”

Bank DBS Indonesia’s digital transformation has been recognised and earned various awards, including Indonesia's Most Popular Digital Financial Brands (Millennials' Choice) 2021 from ICONOMICS, Indonesia Outstanding Millennials' Brand Choice Awards 2021 from Warta Ekonomi, Digital Brand Awards 2021 from Infobank, Indonesia Digital Innovation Awards 2021 from Warta Ekonomi, and The Best Full-Fledged Digital Banking 2021 from CNBC.

Head of digibank PT Bank DBS Indonesia Erline Diani said, “We are committed to developing the existing services to become full-fledged digital banking; a banking application that provides end-to-end services, from daily banking activities such as saving, shopping transactions to investment and loan products, in one application. digibank by DBS will continue to grow as our main platform to further advance Bank DBS Indonesia’s consumer business and accelerate the post-pandemic economic recovery.”

Named the World's Safest Bank for 13 consecutive years, Bank DBS Indonesia strives to educate customers to make them feel more comfortable in making transactions during the Eid al-Fitr holiday, including by maintaining the confidentiality of such information as passwords, OTP, CVC PIN, and preventing fraud by issuing alerts on suspected fake customer centers, fake e-mails, and unofficial social media accounts. Customers are encouraged to update their data and change their PIN periodically. In case of suspicious transactions, customers can contact the call center at 0804 1500 327 or +6221 298528888 (from outside Indonesia).

 

[END]

 

About DBS

DBS is Asia's leading financial services group, with a presence in 18 countries, headquartered and registered in Singapore. DBS is in Asia's three main growth axes: China, Southeast Asia and South Asia. DBS's "AA-" and "Aa1" credit ratings are among the highest in the world.

DBS is known for its global leadership, being named “World's Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. DBS is at the forefront of harnessing digital technology to shape the future of banking, being voted “World's Best Digital Bank” by Euromoney and “Most Innovative in Digital Banking” by The Banker. In addition, DBS received the “Safest Bank in Asia award from Global Finance for 13 consecutive years from 2009 to 2021.

DBS provides a complete range of services for customers, SMEs, as well as corporate banking. As a bank born and raised 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 society through supporting social entrepreneurs the Asian bank way. DBS has also set up a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With an extensive operational network in Asia and an emphasis on staff engagement and empowerment, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.