Banking in the digital world: a choice or a necessity? | Bahasa
To anticipate these changes, DBS Bank carried out digital transformations that were more than just "digital lipstick". They were "digital to the core", from banking processes and services to work culture. For DBS Bank, digital transformation is not only about technology but also about “digital mindset”, which means the bank won’t stop innovating to meet customer needs digitally through digibank by DBS, which is able to answer the current and future needs of customers.
“Digital banking has changed customer banking experience, making customers feel like entering a boutique. The customer is immediately recognised, and the financial solution on offer will be adjusted to customer needs, especially related to wealth management, because every customer has their own needs and preferences. With digitalisation, the products offered suit the customer's financial condition,” said Managing Director, Head of Digital Banking, PT Bank DBS Indonesia, Leonardo Koesmanto.
Digital banking platforms make it possible for financial services to become increasingly available to all segments of society, which DBS Bank refers to as financial democratisation. Products that were previously only available to certain segments can now be accessed by everyone, from opening an account, making a deposit, foreign currency transaction, opening a foreign currency account, credit payments, to primary and secondary market bond investments. It allows people to move forward and improve their financial condition, especially in the midst of the pandemic when financial management and development is becoming increasingly important.
The e-SBN feature in the digibank by DBS application is one of the features that can be used by customers to develop their finances. Customers can invest in government bonds safely and comfortably through a process that is 100% digital from end-to-end through digibank by DBS as one of the official selling agents. By utilising digital technology, digibank by DBS has succeeded in accelerating the sale of government retail bonds despite the pandemic. The sales of ORI017, for example, which was offered from 15 June to 9 July through digibank by DBS, increased by more than 100% compared to the sales of ORI016 offered last year, making digibank by DBS the top eight sellers of ORI017 nationwide. In addition, sales of ORI017 through digibank by DBS increased by around 70% compared to sales of SR012 offered earlier this year. This shows that digital banking has become a new solution for people to manage and develop their finances in the new normal.
As a full-fledged digital banking app, digibank by DBS allows customers to perform banking activities without going to a branch office, without having to fill in a lot of documents, and without the need of a wet signature (Branchless, Paperless, and Signatureless).
Branchless: Nowadays people want everything done instantaneously, including banking services. DBS Bank believes that physical banks are still needed although the delivery mode no longer requires physical presence as it can be done via the smartphone. Digital banking allows DBS Bank to provide banking services through the palm of your hand without the need to queue at branch offices, especially in the current pandemic situation.
Paperless and signatureless mean customers are spared the task of filling in and signing forms to open an account using the application because digibank by DBS utilises e-KTP and biometric verification for the e-KYC (Know Your Customer) process. Data that are securely encrypted on the e-KTP chip are matched with the prospective customer's fingerprint to verify customer identity. In addition, a soft token that replaces the One Time Password (OTP) ensures that transactions are carried out on the correct device and bogus transactions (phishing) carried out from other devices can be prevented. In terms of customer service to address customer complaints, DBS Bank uses the Virtual Assistant feature with Artificial Intelligence and the Live Chat feature to address common customer questions previously handled by the call center.
[END]
About DBS
DBS is a leading financial services group in Asia with a presence in 18 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 Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. 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. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.
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, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.