Three Things You Need to Know About Digital Banking | Bahasa
1. Digital Banking does not require a branch office or is branchless
Banks operate through physical distribution channels with more than one branch offices and sub-branch offices across Indonesia to meet customer needs. Digital banking is a banking service using a bank's electronic or digital facilities that allows customers to perform banking activities independently. Digital banking not only allows customers to perform banking transactions digitally but also to perform banking activities that are usually only performed through branch offices digitally, such as account opening, deposit and investment. Digital banking is different from Internet banking or mobile banking, which are limited to such banking transactions as fund transfer or balance check. This means customers still have to go to a bank’s branch to perform other banking activities in a conventional manner.
2. Digital Banking is more than just a banking application
The difference between digital banking and mobile banking lies in the features provided in one application. Mobile banking allows customers to perform transactions that can be done via ATMs, such as fund transfer, bill payment, and phone credit purchase. Meanwhile, digital banking allows customers to carry out banking activities that are normally carried out at sub-branch offices, such as opening new accounts, opening time deposit accounts, making investment, and topping up e-wallets.
For example, the deposit feature on digibank by Bank DBS Indonesia allows customers to open time deposit accounts using the application. The pay and purchase feature is a favorite among customers as it allows them to pay bills and shop on e-Commerce sites. Today, the pay and purchase feature also allows customers to top-up e-Money easily because the feature is also equipped with the Near Field Communication (NFC) technology for Android.
3. Digital Banking Based on Indonesia’s Biometrics-enabled E-KTP
Biometric technology that is used in e-KTP is a technology that is not only used for civil registration but can also be used as a database in the banking industry. Using biometric identification, such as fingerprints, verification and security data of each customer has been recorded and integrated to shorten the time customers have to spend when registering their account and verifying their data when logging in or performing transactions. In addition, this reduces human error, such as forgetting the PIN, that commonly happens when logging in or performing transactions. It is different from mobile banking and Internet banking services that requires Personal Identification Number (PIN) to log in and perform transactions, which is troublesome because customers are prone to forgetting their PIN.
Today, digital banking has become a basic need for many customers in Indonesia to carry out daily banking activities. Digital banking products and services are thriving, one of them is digibank by DBS. The app has various services and products to facilitate customers in making interbank fund transfers online, with zero administration fee. In addition, the investment and savings features can be accessed easily and quickly via the deposit feature.
Digital transformation is the main focus of Bank DBS Indonesia. Bank DBS has won numerous international awards from world-renowned publications, such as The Best Bank in the World from Euromoney and Global Bank of the Year from The Banker, for its digital transformation, one of them is through services and banking products provided by digibank by DBS.
"Undeniably, technology makes things easy for us in various aspects, especially in doing daily activities. Knowledge of digital banking and various banking services is crucial for customers in choosing solutions for their financial needs. It is important for you to make the right choice of banking products and services that meet your needs. It will be even better if the banking products are not just a tool or a facility for transactional needs but also an investment," said Leonardo Koesmanto, DBS Indonesia Head of Digital Banking.
"Technology makes things easy for us and enables us to conduct all banking activities via our mobile devices. This is in line with our mission of Live more, Bank less to help customers enjoy life better and to not be bothered by complicated banking matters. "
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About DBS
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence 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 “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 ten consecutive years from 2009 to 2018.
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 of our 26,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.