DBS INTRODUCES SINGAPORE’S FIRST INTERNET BANKING GUARANTEE
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Customers who bank online will be reimbursed in the
unlikely event of unauthorised transactions
SINGAPORE, 8 January 2010 - DBS today introduced an industry first, a "money safe" guarantee to give its Internet banking (iBanking) customers added protection and greater peace of mind.
With the "money safe" guarantee, DBS' iBanking customers will be automatically protected when transacting online, with the bank reimbursing them in the unlikely event of unauthorised transactions on their iBanking account. Customers will need to continue to do their part by keeping their login PINs, identity and tokens secure, to minimise the risk of unauthorised transactions.
"We believe that Internet banking is becoming an increasingly important aspect of banking of the future. Although the industry follows a set of high security standards, many still have concerns over transacting on the Internet. As the bank with the largest number of online users, we want to take the lead to give our customers greater peace of mind and assurance when they transact online with us," said Mr Rajan Raju, Group Executive, Consumer Banking Group, DBS.
DBS has the largest Internet banking customer base of 1.35 million (35% market share) in Singapore. The bank is committed to enhancing its iBanking platform to meet customers’ growing needs. Last year, DBS launched a new iBanking website with more user-friendly navigation and added new security features for greater online protection. It also introduced new online services that enable customers to open new accounts, activate ATM cards, trade equities and apply for debit and credit cards in the comfort of their home.
About DBS
DBS is one of the largest financial services groups in Asia with operations in 16 markets. Headquartered in Singapore, DBS is a well-capitalised bank with "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region.
As a bank that specialises in Asia, DBS leverages its deep understanding of the region, local culture and insights to serve and build lasting relationships with its clients. DBS provides the full range of services in corporate, SME, consumer and wholesale banking activities across Asia and the Middle East. The bank is committed to expanding its pan-Asia franchise by leveraging its growing presence in mainland China, Hong Kong and Taiwan to intermediate the increasing trade and investment flows between these markets. Likewise, DBS is focused on extending its end-to-end services to facilitate capital within fast-growing countries in Indonesia and India.
DBS acknowledges the passion, commitment and can-do spirit in each of its 14,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.