DBS introduces a revolutionary new way for corporate customers to bank

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DBS IDEAL Mobile app now eliminates the need for physical tokens; a first in the corporate payments space in Asia
DBSIdeal
 

SINGAPORE,10 October 2016 -

DBS Bank continues to be at the forefront of digital innovation with the new DBS IDEAL Mobile feature that eliminates physical tokens for corporate transactions. Available to both Apple and Android users, DBS is the first Asian bank to offer this integrated service on one mobile platform. The novel digital token feature will make banking on the go simpler and more convenient for corporate treasurers and small business owners.

Currently, corporate treasurers often have to carry several security tokens to conduct their business banking, with some having up to six physical tokens with them at any one time. 

To access the digital token, existing DBS IDEAL users simply need to download or update the DBS IDEAL Mobile app from the Apple or Google Play store on their phones. As the digital token is integrated into the user’s phone, it is secure, available 24/7 and easier to use. Specifically for iPhone users, the digital token utilises the user’s fingerprint to ensure identity confirmation and conduct secure online transactions. Android users will continue to key in their PIN to carry out transactions.

“As a bank that is shaping the future of banking, we want to provide an easy, more convenient and secure solution to our corporate customers. The new digital token feature on DBS IDEAL Mobile is a great example of how we are leveraging technology to help create a more intuitive and seamless banking experience for them,” said John Laurens, Head of Global Transaction Services, DBS Bank.

This new service is available to over 140,000 DBS IDEAL and DBS IDEAL Mobile customers across 10 markets. Over 3 million transactions a month are conducted on DBS IDEAL.

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About DBS
DBS - Living, Breathing Asia

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 capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific.
 
DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognised for its leadership in the region, having been conferred “Asia’s Best Bank” by The Banker and Euromoney, and “Asian Bank of the Year” by IFR Asia. The bank has also been named “Safest Bank in Asia” by Global Finance for eight consecutive years from 2009 to 2016.
 
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 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.