DBS IDEAL What's coming in September 2016 - DBS Bank
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DBS IDEAL Release Notes • September 2016
DBS IDEAL
What’s coming in
September 2016
1
DBS IDEAL Release Notes • September 2016
Table of Contents
01
Introduction - Online Banking will never be the same again ................................... 3
02
Digital token – Say goodbye to the hassle of physical tokens ................................. 4
03
Banking with Ease - for Overseas Transactions ......................................................... 5
03A • Faster Processing of Telegraphic Transfers .............................................................. 5
03B • DBS PriorityPay ...................................................................................................... 5
04
Making Banking Simpler - Single Transfer Center and Single Approval Queue ..... 6
05
New Reports – Better security and controls for your IDEAL experience ................. 7
05A • Transaction Status ................................................................................................. 7
05B • Payment Summation by Currency .......................................................................... 7
06
NACH Collection – Improve your cash flow (India only) ........................................... 8
07
Disclaimer ...................................................................................................................... 9
2
DBS IDEAL Release Notes • September 2016
01 Introduction - Online Banking
will never be the same again
Thank you for the constant support and feedback you have provided to improve DBS IDEAL. We have heard you, and we are
proud to present an improved IDEAL that will not only provide you a faster, smarter and simpler experience, but will make
banking on-the-go a truly mobile experience.
In this release, look forward to new and innovative features such as:
• No more physical token, your mobile phone is your token - IDEAL digital token
• Enjoy faster and cheaper Telegraphic Transfers with DBS Regional network - DBS PriorityPay
• Making Banking Simpler - A Single Transfer Center and Single Approval Queue
Welcome to a brand-new online banking experience that is not only more cost-effective, but helps you streamline your workflow
so you can focus on growing your business.
3
DBS IDEAL Release Notes • September 2016
02 Digital token – Say goodbye
to the hassle of physical tokens
Now you can use your mobile phone as your security token! This new feature makes banking on-the-go a truly mobile experience.
Think of this as a new token of our commitment to you.
Digital token will be automatically enabled for all users in your company. You may still continue to transact on IDEAL with your
physical token.
Digital token is currently available on iOS for all customers in Singapore, India and Vietnam. It will be
launched on Android and rolled out to our other markets soon.
Note: Please ensure that your device is not jailbroken or rooted, and that your contact details including email
address and mobile number are valid and up-to-date.
4
DBS IDEAL Release Notes • September 2016
03 Banking with Ease
- For Overseas Transactions
Faster Processing of Telegraphic Transfers
When creating a Telegraphic Transfer, let us assist you in
selecting the earliest processing date with the new Earliest
Available Date option.
To avoid delays in payment to your beneficiary, for Remittance
transactions which required regulatory reporting and clearing
purposes, IDEAL will now intelligently identify and advise for
Payment Details.
DBS PriorityPay
Enjoy faster and cheaper Telegraphic Transfers with the new
DBS PriorityPay! This value added service spans across the DBS
Regional network, and even notifies you when funds have
been successfully credited into your beneficiaries’ account.
This makes Telegraphic Transfers:
1) Faster: Beneficiaries will be credited within 10 minutes
(for eligible currencies and corridors)
2) Cheaper: No Cable / Telex charges
3) Finality: An email/sms alert will be sent to you once the
beneficiary has been credited
What’s more, any Telegraphic Transfer initiated in IDEAL will
be automatically upgraded to a PriorityPay transaction if your
beneficiary’s account is within the regional DBS network.
No special setup is required for effecting payments, and no
separate payment product will be introduced on IDEAL. In
order to receive the new alert, simply sign up for the Credit
Confirmation Alert via IDEAL eAlerts.
Eligible IDEAL payees will automatically upgraded to a PriorityPay Beneficiary. During a Telegraphic Transfer
initiation on IDEAL, the PriorityPay indicator will be displayed for beneficiaries with an account within the DBS
Regional Network#.
#
DBS Regional Network:
- DBS Singapore
- DBS Hong Kong Limited
- DBS Hong Kong Branch
- DBS China
- DBS India
- DBS Taiwan
5
DBS IDEAL Release Notes • September 2016
04 Making Banking Simpler - Single Transfer
Center and Single Approval Queue
For transaction makers who are currently managing your transactions from the transfer center and file upload, you can now
view all transaction status at a glance from one location. Reports will provide you more control over the transactions. The new
single transfer center layout saves you time, allowing you to focus on your task at hand.
Approvers who are currently approving transactions from the Approval Queue and File Approval, enjoy a faster and simpler
approval process with the new single Approval Queue. You may now view all transactions pending approval from one
single location.
6
DBS IDEAL Release Notes • September 2016
05 New Reports – Better security and
controls for your IDEAL experience
Transaction Status
This new report allows you to view all your transaction
status, the last maker and the last approver personnel
of the transaction in a single glance.
Payment Summation by Currency
It is now easier to keep track of the total cash outflow
of your organisation. The new Payment Summation
By Currency will display the total amount, grouped
by your payment currency.
With the new payment summation by currency, viewing your total cash outflow helps ensure there is sufficient
funding for initiated payment instructions.
7
DBS IDEAL Release Notes • September 2016
06 NACH Collection
– Improve your cash flow (India only)
Improve your cash flow by ensuring timely collection of your receivable with National Automated Clearning House (NACH)
Collection. You can now pull funds from payers’ accounts against outstanding invoices, with extended cut-offs for same
day clearing.
Benefits:
• Central control on receivables
• No hassles around cheque deposit and follow-up
• Improved and efficient over Post Dated Cheques
• Reduced operational cost
Sign up for this feature using the User Application Form of contact DBSBusinessCare for more details.
8
DBS IDEAL Release Notes • September 2016
07 Disclaimer
The Release Notes are published by DBS Bank Ltd. (company registration no.: 196800306E) (“DBS”) for DBS IDEAL customers
and is for information only.
The information in the Release Notes is property of DBS and is protected by applicable intellectual property laws. No reproduction,
sale, distribution, publication, broadcast, circulation, modification, dissemination, or commercial exploitation of such information
in any manner is permitted.
DBS accepts no liability for any losses or damages (including direct, special, indirect, consequential, incidental or loss of profits)
of any kind arising from or in connection with any reliance and/or use of the information in the Release Notes.
The information in the Release Notes is accurate as at time of publication on September 2016.
© 2016 DBS Bank Ltd. All rights reserved.
DBS Reserves the right to amend the information in this document for the release coming in September 2016.
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