JAKARTA - Anticipating disruption and the rapid development of technology, Bank DBS Indonesia as a financial institution has prepared digital infrastructure and launched digital corporate banking products and services that support customers in carrying out their daily activities. Especially with the proliferation of financial technology (fintech) startups, making business in the financial industry more competitive.
“By utilizing DBS IDEAL and DBS RAPID digital corporate banking services, corporate customers can change their operational workflows to digital with a seamless process and enable customers to face industry competition. Like one of our corporate customers, PT Astra Sedaya Finance (ASF), which uses DBS RAPID so that it can provide financing services effectively and provide added value to its business," said Corporate Banking Director, PT Bank DBS Indonesia, Kunardy Lie.
ASF has various payment channels via e-banking. However, there is a time lag between the time the transaction is completed and the date the payment was processed. ASF wants to eliminate the transaction time lag and provide same day disbursement of funds to its customers, especially for their multi financing products. This condition then made ASF partner with DBS Bank Indonesia to explore and develop solutions that provide real-time capabilities to support their digital transformation.
When a customer chooses a financing service through the acc.one application, Bank DBS Indonesia first verifies the bank account through the DBS RAPID Application Programming Interface (API). Applications for financing services will only be allowed to proceed if the bank account details are complete and verified. After the details are verified, real time payment instructions will be sent to Bank DBS Indonesia via DBS RAPID. Real time notification of successful financing payments, sent via DBS RAPID to Astra Sedaya Finance. Bank DBS Indonesia is the first bank to offer instant settlement with real-time online transactions (RTOL) via API in Indonesia. (LM)