Singapore based lender DBS is offering a paperless technology that does not require a signature, branded as “Digibank,” to its customers in Indonesia.
The technology allows potential customers to open DBS bank accounts by only filling out an application with the Digibank app and arranging a meeting with a Digibank agent to validate biometric data, said DBS Indonesia president director Paulus Sutisna.
“Over the past few years, the number of internet and smartphone users has grown rapidly in Indonesia. Along with this, we witnessed a change in customer behavior. People increasingly want a simple, fast and effortless way to open bank accounts,” he said during the product’s launching event in Jakarta on Tuesday.
With the technology, DBS attracted 1.5 million new customers in India after launching it in the country in April last year, he added.
The application has financial planning features and a virtual assistant.
Digibank offers 3 percent interest annually for current accounts and 6.5 percent for time deposits.