Singapore’s DBS Bank has launched a mobile-only bank, known as digibank, in Indonesia. It makes use of modern technologies including biometrics and artificial intelligence (AI).
The bank will allow customers to open accounts using biometrics-enabled identification programme, get their queries answered by AI-driven virtual assistant, and incorporate an intelligent financial planning and monitoring feature.
Users will be allowed to withdraw cash, without any administrative fees, at participating ATMs in Indonesia and DBS ATMs in Singapore.
digibank will allow users to open an account without any minimum balance and offer 3% interest on deposit.
DBS CEO Piyush Gupta said: “With digibank, we’ve built a bank that pulls together the power of biometrics, natural language, artificial intelligence and in-built security in one offering.”
“We believe this mobile-led offering represents the future of banking, and are excited to introduce this in Indonesia, a core market for us in Asia.”
In April 2016, the mobile banking proposition was launched in India.