Bank DBS Indonesia has been named as the #1 World’s Best Bank in Indonesia by Forbes and Other Awards

DBS Bank Indonesia has been recognized as the World's Best Banks, this underlines the achievements and innovations of DBS in Indonesia.

This latest award comes from the prestigious magazine that awards the best individuals and institutions from around the world, Forbes Magazine. Which named Bank DBS Indonesia as the first place winner of the top 20 leading banks in Indonesia, DBS Indonesia said in a press release.

Forbes collaborated with marketing research company Statista to reward 500 banking institutions in the world through a survey of 43,000 customers in 28 countries related to the banks used by respondents. The evaluation criteria for this award are divided into three, namely recommendations, level of satisfaction and five other criteria including trust, terms & conditions, customer service, digital services, and financial advice.

Interestingly, Forbes and Statista found that trust and digital services were the two biggest reasons Indonesians chose their bank. This award is obtained based on testimonials from customers who have experienced the services and products of DBS Indonesia, where customers can get a new way of banking experience without being complicated by banking matters or what Bank DBS Indonesia calls Live more, Bank less. This is what made Bank DBS Indonesia successfully ranked first in the World’s Best Banks in Indonesia.

This is confirmed by Statista banking analyst Sukyung Kim, states that “Compared to last year DBS Indonesia improved its overall score and improved in almost every subdimension including general satisfaction and recommendation. That made them the No. 1 Indonesia this year."

This award proves the commitment of DBS Indonesia to be innovative. This was proven by previously DBS Indonesia got second place in The World's Best Banks in 2020 by Forbes. Bank DBS Indonesia's digital transformation has been started since 2017 since launching the digital banking service digibank by DBS as a full-fledged digital banking that allows customers to carry out various banking transactions from opening accounts, savings, deposits, foreign exchange transfers, to investing in bonds both in the Primary Market. as well as the Secondary Market only through the hand without having to go to a branch (branchless), without the need to fill out physical documents (paperless), and without requiring a signature (signatureless).

Not only that, for corporate customers, Bank DBS Indonesia provides DBS IDEAL RAPID services that integrate real-time processing of payments, receivables, and information retrieval about customers' business workflows, as well as facilitating business transactions in their network.

Paulus Sutisna, President Director of PT Bank DBS Indonesia said, “It is an honor for us to be ranked first in the World’s Best Banks in Indonesia by Forbes. Our achievements are a recognition of the hard work of the Bank DBS Indonesia team who are constantly creating innovations and providing the best banking solutions and experiences that customers can rely on. We believe that there are opportunities that can be taken from the current conditions, especially to accelerate Bank DBS Indonesia's digital services so that customers can make banking transactions easier to realize our commitment to be the trusted bank of choice for customers and to lead digital innovation."

DBS Indonesia digital transformation commitment is also implemented internally by implementing a series of change initiatives in order to make new working rules such as hybrid work patterns, flexible working hours, and providing employees with training in rapidly advancing areas such as design thinking, artificial intelligence, machine learning, and agile principles, and work on a data-driven basis.

Separately, Bank DBS Indonesia also won other international awards by being named Indonesia's Best Trade Finance Provider Award 2021 by Global Finance and Best Risk Management Project (Risk Culture Project) at the 2021 Digital Awards by The Asset Triple A Awards.

1. Indonesia’s Best Trade Finance Provider Award 2021 by Global Finance

For the second time, DBS Indonesia was awarded as the Best Trade Finance Provider in the 2021 Indonesian category by the world's leading financial magazine, Global Finance, after previously winning similar awards, namely Best Trade Finance Solution in 2020, and Best Service Provider - Trade Finance in 2018. DBS Indonesia consistency, which has won the Best Trade award for the third time from Global Finance, reflects the commitment of Bank DBS Indonesia in providing the best service for customers. This year's award was given for the expertise of Bank DBS Indonesia in responding to the uncertainty of the pandemic situation in 2020 by utilizing technology and increasing capabilities so that customers still get satisfying service to achieve financial goals.

Specifically, the assessment is given based on the opinion of industry experts, corporate leaders, and technology experts by considering transaction volume, global reach, customer service, competitive pricing, and technological innovation. This high achievement of Bank DBS Indonesia as the best trade financing provider confirms the commitment and ability of Bank DBS Indonesia to continue to be a corporate banking partner in the midst of limited face-to-face interactions during the Covid-19 pandemic.

2. Best Risk Management Project (Risk Culture Project) at the 2021 Digital Awards by The Asset Triple A Awards

The Asset Triple A Digital Awards 2021 is an annual award for financial institutions and technology companies that are considered superior in digital experience development innovation for customers or consumers. This year, DBS Indonesia was named as the Best Risk Management Project (Risk Culture Project) through the “Be Right Project” from the Technology & Operations team. The assessment was carried out by editorial boards who interviewed several financial institutions in Asia over the last few months and listened to their stories regarding how financial institutions survive during a pandemic through the innovations created.

"Be Right Project" is an effective strategy for managing risk using a people-oriented approach. This project is carried out by building awareness of risks and providing positive feedback for employees to create positive behaviour. The “Be Right Project” instils a “be right at the first time” mindset in employees and as a result, the number of operational errors and risk incidents decreased by 72% in 2020 compared to 2019.

The success of DBS Indonesia in reducing the percentage of risk significantly is the key to the success of DBS Indonesia in winning the award from The Asset Triple A Awards this year. This award is proof of Bank DBS Indonesia's commitment to provide genuine services to customers, starting from improving the quality of employees who are digitally ready, responsive, data oriented, and work quickly.

These various achievements have become a new spirit for DBS Indonesia to continue innovations for relevant customer needs, in line with the times and in the midst of any condition. The digital transformation implemented by DBS Indonesia is also expected to be able to contribute to the future of banking in Indonesia to create banking services that are practical, solution, and safe.