DBS Indonesia enhances payment solutions with digital tech

Digital initiatives drive transaction efficiency and bolster security measures.

DBS Indonesia has significantly advanced its payment solutions, introducing a contactless payment feature for its visa debit cards alongside other digital innovations, according to Dandy Pandi, Head of Global Transactions Services at PT Bank DBS Indonesia. 

"Digital has always been important for DBS. On the back of recent COVID, we saw our corporate data transactions increase from 74% to around 94%," Pandi shared.

Pandi detailed several initiatives aimed at enhancing the efficiency and security of payment processes. DBS was one of the first banks to adopt the BI fast payment system back in 2021 and has continued to build on this technology. 

"By last year alone, we had processed around more than 100 million transactions to be BI Fast," he noted. The bank is also advancing its API capabilities, having seen API calls increase by almost 100% last year, indicating a robust uptake in digital transaction methods.

Pandi emphasised the bank's dual focus on customer convenience and fraud prevention. "All of our data are encrypted using two-factor authentication, biometrics, and token API clarification," he explained. 

The DBS IDEAL mobile app includes features for detecting malware and providing active alerts to users, helping safeguard against cyber threats. "We also use our own basket in Asia to help prevent any other threats such as data breaches, malware, and other attacks," Pandi added.

Looking to the future, DBS is exploring cross-border transactions with the development of 'DBS clocks,' a low-cost, cross-border payment solution providing real-time FX, data settlement, and smart order routing across 120 countries. 

Additionally, the bank is investing in AI technology to further enhance service delivery, using natural language processing to analyse customer behaviour and improve interaction through chatbots and virtual assistants.