DBS Treasures presents Intuitive Wealth Management strategy that scrutinize customer needs | Bahasa

Indonesia, 16 Mar 2021 - Bank DBS Indonesia sees a huge opportunity for the priority banking segment in Indonesia with 1.8 million people having between USD100,000 and USD1 million in assets. In addition, in 2020, the number of investors in the capital market (stocks and mutual funds) increased by 56% from the 2019 figures.

Bank DBS Indonesia through DBS Treasures uses the opportunity to become a trusted wealth management partner. However, there has been a significant change in the priority banking segment, including a shift in the population demographics with customers becoming younger, the digital evolution that affects banking transactions, notably given the implications of the pandemic. A qualitative survey conducted by DBS Treasures has shown that there are customers who still hesitate to make investment decisions.

“Since last year, we have been intensively conducting research to identify the aspirations and challenges faced by customers. The rapid economic movement, the low financial literacy rate, and the time constraint that prevents them from learning more about investment have made customers hesitant about making investment decisions,” said Consumer Banking Director, PT Bank DBS Indonesia, Rudy Tandjung. “Meanwhile, the annual research conducted by Bank DBS Indonesia revealed the key parameters of services sought by priority customers, namely comprehensive and personal financial insights delivered proactively and a digital innovation for investment transactions.”

To that end, DBS Treasures has transformed its wealth management strategy to focus on customers’ needs so that they feel more confident in making accurate and timely investment decisions. The transformation is aligned with DBS Treasures’ mission to build innovative solutions for a future of banking and become a trusted wealth management partner that maximises customers’ investment decisions.

“DBS Treasures makes serious efforts to address customers’ needs through ‘Intuitive Wealth Management to Empower Confident Decisions’ that focuses on three commitments, namely proactive analysis and delivery of the latest market insights, banking experts who understand customer risk profiles and who are driven by the latest market data, as well as extensive digital innovations to facilitate communication and investment transactions,” said Head of Segmentation, Liabilities and Mortgage PT Bank DBS Indonesia, Festia Pisa Valensia. 

These commitments were revalidated by a survey of 3,000 respondents to ensure that DBS Treasures offers unique and easy to understand services. Up to 70% of respondents claimed that the concept is relevant and satisfies their needs; 91% believed that DBS Treasures help them feel confident in making investment decisions; and 45% would like to learn more and join DBS Treasures.

“To help customers feel more confident in making investment decisions, DBS Treasures applies The 90-10 Rule, with the bank doing most of the work (90%), which is sharpening the wealth management strategy, and customers making the final decision (10%). The strategy was formulated by a team of experts consisting of Market Intelligence, Data Scientists, Product Specialists, and certified Relationship Managers, pivoting on DBS Research Library and our customer profiles. Therefore, the portfolio could be optimised based on the customer’s needs and aspirations, such as domestics and foreign investments to inheritance protection and planning,” continued Festia Pisa Valensia. 

In line with the digital innovation commitment to simplifying communication and investment transactions, Executive Director, Wealth Management Talent Rotation, PT Bank DBS Indonesia, Keng Swee, added that, “Bank DBS Indonesia maximises its digital capabilities with new innovations for customers to seize opportunities in a timely manner. We have comprehensive investment transaction services that could be accessed anytime and anywhere through the digibank by DBS application, phone instructions and video calls, as well as virtual market updates through e-Talk series webinars. In addition, customers could get market alerts through preferred channels such as email, WhatsApp, or video calls.”

Through Bank DBS Indonesia’s 24/7 digital banking platform - the digibank by DBS application- the number of customers who purchase bonds digitally increased by sevenfold during the period that spanned from the end of 2019 to the beginning of 2021. Meanwhile, the number of DBS Treasures customers who perform forex transactions on digibank by DBS quadrupled in the same period. Today, DBS Treasures has nearly 56,000 priority banking customers at 31 branches in 14 cities across Indonesia and is eying a growth of up to 12% and 14% in the number of managed fund customers at the end of 2021.

 

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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 12 consecutive years from 2009 to 2020.

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 SG50 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 of our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.