Transactions At Digibank, Owned By Bank DBS Indonesia, Increased 75 Percent During The PSBB Period

Illustration. (Photo: Bank DBS Indonesia)

JAKARTA - DBS Indonesia's digital bank, digibank by DBS, recorded the growth of online transactions during the Large-Scale Social Restrictions (PSBB) period. The 75 percent increase in online transactions occurred in the Pay & Buy feature and the use of debit cards.

This is due to changes in people's consumption behavior while carrying out activities only from home, "said Leonardo Koesmanto, Managing Director of Digital Banking Group of PT Bank DBS Indonesia, in a statement received, Monday, June 22.

DBS Bank realizes that the role of technology in the future will change the pattern of human life, including banking activities. Therefore, DBS Bank carried out a comprehensive digital transformation, moving from a conventional bank to a digital bank by launching Digibank by DBS in Indonesia since 2017.

"The increase in financial transactions we have experienced shows that digital banking features and services make it easier for customers to continue to fulfill their financial transaction needs, especially now that we are entering a new era of normality," said Leonardo.

Leonardo also said that DBS Bank's strategy is to continue to develop technological innovation, by presenting a variety of financial services in the digibank by DBS application, from remittances to wealth management that can be accessed anywhere and anytime with just your hand.

The use of digibank by DBS debit cards for online transactions has also shown a positive increase during the pandemic, where the volume of online transactions has doubled the volume of debit card usage for offline transactions compared to the pre-COVID-19 period.

In addition, the savings and time deposits placed by retail customers at digibank also almost doubled when compared to the same period last year.

Currently, digibank by DBS is developing features in the application, particularly wealth management to make it easier for customers to make transactions in managing finances.

In the near future, digibank by DBS plans to launch a Forex Account and a Bond Buy and Sell feature which is expected to increase the options for customers to save and develop their wealth.

Add Customer

For information, PT Bank DBS Indonesia is targeting 200,000 new customers through Digibank's digital products throughout 2020. Leonardo said that his company continues to carry out digital development as well as socialization to attract new customers.

"We currently have 600,000 customers, and we can add another 200,000 new customers this year. In fact, in the future we are targeting up to 3.5 million," he said some time ago.

This year, he explained, digital development will still be carried out for both the mobile banking application (Digibank) and the operating system. In addition, DBS will also focus on the emerging affluent market segment. The reason is, this class has good financial planning and has a positive impact on the managed fund business.

Based on a World Bank report entitled Aspiring Indonesia: Expanding the Middle Class, currently there are 52 million Indonesians who are classified as financially secure, or so-called upper middle class people.