DBS Bank Inaugurates digibank Online Banking Application, Aims for 3,5 Million Customers Until 2022

DBS Bank inaugurated the presence of the online banking application digibank as a form of strategy to attract new customers. It is targeted that digibank can attract 3,5 million new customers by 2022 or five years from now.

Counted, the number of new customers that were netted digibank since the soft launch in May 2017, it is claimed to have captured 13 thousand customers.

DBS Bank hopes that the presence of this innovation can follow the success of digibank in India last year. It is claimed, DBS India is able to acquire 1,5 million new customers to date.

"We believe that this mobile-based offering represents the future of banking and we are pleased to introduce it to Indonesia, [which is] our main market in Asia," DBS Group CEO Piyush Gupta, Tuesday (29/8).

President Director of Bank DBS Indonesia Paulus Sutisna added, "We have observed changes in customer behavior and people increasingly want a simple, fast, and practical way of doing banking transactions. [..] We are happy to introduce digibank to Indonesia so that customers can carry out their activities. banking anytime and from anywhere."

Meanwhile, digibank only provides standard banking services for account opening, deposit and fund transfer needs. Going forward, DBS Bank will continue to add other banking features to attract more customers, while making bank services more accessible. One of the additional services that will be available is credit application.

digibank features

Head of Digital Banking Bank DBS Indonesia Leonardo Koesmanto added that digibank has several quite different features. Among them, biometric technology as a KYC method that must be done by customers before creating an account. The biometric device is brought by DBS agents who are tasked with assisting prospective customers to open accounts. Customers only need to arrange a schedule to meet the agent and prepare an ID card.

Then, features Virtual Assistant tech Artificial Intelligence. To take advantage of this technology, customers only need to type a question. For example, "What is my account balance," or "Show me my last five transactions." Later the machine will automatically help answer questions.

Next, features Money Tracker to assist customers in financial planning and monitoring. Customers can also monitor transactions, create budgets, and analyze spending trends.

Lastly, features Soft token for security Embedded. Soft token is a dynamic security embedded in an application that is more secure than OTP, unlike other banks that use One-Time Passwords (OTP). This method is claimed to provide a higher level of security for transaction authorization.

"In the future we will be committed to continuing to develop other features, basically we want to create features that can facilitate banking transactions. Maybe later there will be credit, payment, or other installment services. Customer priorities are our main focus," concluded Leonardo.

Apart from DBS Bank, other banks that also provide similar services are Bank BTPN through its products Jenius. Other banks use slightly different methods, for example Commonwealth Bank with an on-boarding machine approach called Time Digital for opening a new account.