Targeting MSMEs and Startups, DBS BusinessClass Launched in Indonesia

After being informed during the event Ideafest 2016 ago, DBS Bank's BusinessClass App is officially launched today. This application is said to have been specially developed by DBS Bank as a platform to bring together entrepreneurs, MSME players, and investors. Its users have the opportunity to get a loan from the DBS bank.

Also attending the event were Director of SME Banking at Bank DBS Indonesia Steffano Ridwan, Managing Director of Kejora Ventures as well as advisor BusinessClass Bank DBS Andy Zain, and VP Research DBS Vickers Indonesia Maynard Arif.

"The DBS BusinessClass application, which was previously launched in Singapore and targets startup activists in the country, is now present in Indonesia and with our main focus helping MSMEs in Indonesia," said Steffano to the media today in Jakarta.

This application is intended not only for DBS bank customers, but also all MSME players throughout Indonesia. DBS BusinessClass is now available for download on the platform Android and iOS. Currently the choice of language offered is still entirely in English, but will gradually be translated into Indonesian, both for features and content.

"Currently, in topics and articles there is already some content in Indonesian, but in the future we will also do language localization, to make it easier for MSME actors to adopt information and services in the DBS BusinessClass application," said Steffano.

Currently the DBS BusinessClass application still functions to share content, networking and consultation only. In the future, the application will also include features Apply Loans to MSME players who want to get a loan from DBS bank, as has been done at BusinessClass Singapore.

“Currently MSMEs and startups in Indonesia still do not have complete financial reports, this is the reason it is still difficult for banks to provide loans to startups and MSMEs. However, it is hoped that in 2017 or the first semester of 2017, DBS BusinessClass Indonesia can provide an opportunity to provide loans in the application,” said Steffano.

Increase the number of members and advisor BusinessClass

Currently, DBS BusinessClass has 15 thousand members in six countries in Asia, namely China, Hong Kong, India, Singapore, Taiwan and Indonesia. For Indonesia itself, currently DBS BusinessClass has 900 members and it is hoped that by the end of 2017 it can increase to a thousand members in Indonesia. For topics that are actively discussed, DBS BusinessClass has around 400 topics globally and 45 advisor from various industries. In Indonesia, DBS BusinessClass already has Andy Zain and GDILab Co-Founder Billy Boen as advisor active.

“My function as advisor is to provide input, consultation and share experiences to startups and MSMEs in Indonesia. Everything can be accessed directly on the DBS BusinessClass application," said Andi.

In addition to topics, articles and opportunities to expand your network, DBS BusinessClass is also equipped with an agenda or event agenda event which can be attended by MSME actors. This is an opportunity to expand the network wider.

“We always recommend that all DBS BusinessClass members do networking and later have the opportunity to meet local and foreign investors,” said Steffano.