DBS Indonesia clinches victory at Asian Experience Awards 2024 

The Indonesia-based bank earned recognition for its rewarding system that puts utmost priority on fostering customer satisfaction and loyalty.

DBS Indonesia emerged as the Indonesia Customer Experience of the Year - Banking winner at the Asian Experience Awards 2024, which honoured the company’s initiative of giving its credit card customers an instant reward redemption experience.  
 
The bank’s Bayar Pakai Rewards provides instant and real-time points redemption, which eliminates the hassle of accumulating points and dealing with limited redemption options. Through this feature, customers can enjoy immediate cashback on any credit card retail transaction with the flexibility to redeem small amounts of purchases as low as IDR10,000 (~SG$0.9). In addition, this feature offers the convenience of redeeming points through the digibank by DBS application, which can be accessed anytime, anywhere – aligned with its Live More, Bank Less promise.

Instant reward redemption

The ever-evolving financial services landscape has made crucial the advancement of credit card rewards redemption in driving customer satisfaction and loyalty. With this in mind, DBS Indonesia jumpstarted its initiative of providing instant reward redemption through the Bayar Pakai Rewards feature. Launched in April 2023, this feature has significantly transformed how customers use their rewards, allowing credit card users to instantly redeem points for any retail transaction through the digibank app. Its real-time value, convenience and ease of use are proven by the fact that 48% of its users are over 40 years old.

Since its introduction, Bayar Pakai Rewards has achieved several milestones in more than 280 million points have been redeemed—which reflects high engagement and utilisation. It also ranked amongst the top three across all DBS rewards categories and has led to more than 12% bank’s reward cost saving in 2023. Aside from highlighting the feature’s effectiveness in managing rewards liabilities, these achievements also reflect widespread adoption and impact on the bank’s operational efficiency and profitability.

Profound impact 

Aside from these numbers, Bayar Pakai Rewards has given DBS a competitive advantage which impacts the company’s business and the credit card industry. By offering immediate and tangible benefits anytime, anywhere, DBS has offered a different level of customer experience. 
Furthermore, its partnerships with prominent Indonesian merchants have also enhanced the programme's appeal with exclusive promotions. 

Banking on its customer-centric approach and significant achievements in enhancing customer satisfaction, improving operational efficiencies, and influencing industry trends, the company’s initiative exemplifies excellence and proves itself worthy of the Customer Experience of the Year - Banking award. As it moves forward, DBS Indonesia continues its commitment to lead in the competitive credit card rewards landscape.

The Asian Experience Awards recognises the ingenious initiatives of creative companies delivering meaningful brand experiences to their stakeholders.

The Asian Experience Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for providing meaningful brand experiences to stakeholders, please contact Jane Patiag at [email protected].