Asia: DBS to launch mobile-only banking service in Indonesia

Development Bank of Singapore (DBS) plans to open a new mobile-only bank in Indonesia in the second quarter of 2017 to promote a new experience for its customers. Customers can expect to use biometrics and electronic ID (e-KTP) to register or use DBS’s banking services. According to data from RFi group, there is a growing group of banking customers who use their mobile devices for their banking transactions.

DBS’s digital stance has already been rolled out in India, and looks to expand it across to Indonesia through a soft launch in April this year. Digital transformation is part of DBS’s larger plan for the region, where it is leveraging on delivery of innovative technology solutions to reach out to customers more efficiently. The smartphone-based mobile option will enable DBS to not only connect with its customers but also reduce the cost to serve.

Source: RFi Group – Indonesia Retail Banking Council (H2 2016)

Upcoming Events
Australian Banking Innovation Summit 2020
Sydney, NSW, Australia
See all upcoming events
Subscribe to receive insights delivered straight to your inbox
Latest news, unbiased expert analysis and insights across banking and finance