Flip.id and PT Bank DBS Indonesia make it easy for public and micro businesses to conduct financial transactions during pandemic | Bahasa
The growing public need for technology to support online transactions is evidenced by the growth in the number of users of online financial services, including users of Flip.id, a pioneer in online transaction services. The application, which provides free interbank transfers, has experienced a nearly 100% increase in the number of users during the pandemic.
"We see an increase in the public's need for online money transfers, which were previously dominated by ATMs. In addition, the pandemic has also caused many people to reduce their spending. Therefore, the free interbank transfers offered by Flip.id can be a solution to reduce expenses, as indicated by the increasing number of Flip.id users during the pandemic," said Rafi Putra Arriyan, CEO of Flip.id.
To meet the public’s growing need for interbank transfers, Flip.id collaborates with its banking partner, PT Bank DBS Indonesia. The technology solution from PT Bank DBS Indonesia, DBS RAPID, enables Flip.id to provide smooth and hassle-free interbank transfers for its customers. DBS RAPID integrates real time processing of payments and simplifies business transactions on Fli.id's network (ecosystem). Real-time transactions not only improve efficiency and reduce cost for PT Bank DBS Indonesia’s corporate customers but also provide experience for and position PT Bank DBS Indonesia’s corporate customers as market leaders in their industries.
Through DBS RAPID's corporate banking service, PT Bank DBS Indonesia enables its corporate customers to transform their operation workflows to a smooth, hassle-free digital process. "We always try to help our corporate customers, including Flip.id, in doing their business. DBS RAPID allows direct connection between the Flip.id system and PT Bank DBS Indonesia's system so that Flip.id can give transaction instructions directly from their system without having to log into the internet banking portal," said Husin Hartono, Head of Sales Global Transaction Services, PT Bank DBS Indonesia.
In the same tone, Angela Thenaria, Head of Institutional Banking Group 4 PT Bank DBS Indonesia, said, "Bank DBS Indonesia always strives to provide corporate banking services that accommodate the needs of our corporate customers to make it easier for them to run their business, one of them PT Fliptech Lentera Inspirasi Pertiwi or Flip.id, which has been our customer since 2019. As Flip.id allows its users to make inter-bank transfers in real-time and at no cost, we support Flip.id to the best of our ability in running its business with seamless and hassle-free technology solutions.
Based on a shared principle of giving to society, PT Bank DBS Indonesia and Flip.id hope to ease the burden of the people and ensure a convenient, smooth and safe process of sending and receiving money. Through the partnership, Flip.id and PT Bank DBS Indonesia make it easier for people to make interbank transfers online. In addition, Flip.id users now can make free transfers from or to PT Bank DBS Indonesia. This has also strengthened Flip.id’s position as the market leader in bank transfer technology.
Micro business players also benefit from the free interbank transfer service using the Flip.id application as it means they can reduce operating expenses incurred as a result of money transfers to suppliers and consumers.
In addition to individual users and micro businesses, the collaboration between Flip.id and PT Bank DBS Indonesia also benefit corporations. Through Big Flip, a service for Flip's corporate partners, companies using Big Flip have an alternative channel for processing payments to PT Bank DBS Indonesia. This is possible through direct connection between Flip.id and PT Bank DBS Indonesia’s Application Programming Interface (API).
“The collaboration with PT Bank DBS Indonesia, one of the best banks in Indonesia, is part of our endeavor to meet people’s growing need for interbank transfers during the current pandemic. Through the collaboration, Flip.id users can transfer funds from or to PT Bank DBS Indonesia more easily and with no administration fee," said Rafi.
DBS Bank has just won recognition as the Safest Bank in Asia or The Asia's Safest Bank 2020 from Global Finance for the 12th consecutive year. It was also named Best Bank in the World or Best Bank in The World 2020 by Global Finance and Asia's Best Bank 2020 by Euromoney.
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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.