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Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to.

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Presentation on theme: "Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to."— Presentation transcript:

1 Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents. Cash Management Updates for NPOs Jemmy Ong Vice President, Global Transaction Services Cash & Trade

2 Day to day concerns of NPOs Problem with cheques –Forgery –Room for add-ons –Cash cheques –Safe keeping of cheque stock Manual processes Cost Convenience

3 Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents. Cash management solutions to address NPOs concerns

4 Problems with cheques Outsource through the issuance of cashiers cheques: Secure e-banking access for initiation Value add features –Signed by the bank –Validation of the cheque when presented –Wide choice of delivery methods –Ability to have cheque status update on-line –On-line stop cheque capability –Auto refund of cheques after expiry Efficiency improvements –Eliminate the need for manual signatures –Approval by batch –Improve reconciliation

5 Secure e-banking access To have a electronic banking system with robust security features: Limited access –2 factor authentication Password Token access –Token given only to key personnel –Token authorisation Segregation of function –Separate maker and approver function Strong Audit Trail –To track the activity of the users that use the system

6 Problems with cheques Outsource through the issuance of cashiers cheques: Secure e-banking access for initiation Value add features –Signed by the bank –Validation of the cheque when presented –Wide choice of delivery methods –Ability to have cheque status update on-line –On-line stop cheque capability –Auto refund of cheques after expiry Efficiency improvements –Eliminate the need for manual signatures –Approval by batch –Improve reconciliation

7 Manual processes Automation of manual processes - Collection: GIRO Collection –SGD direct debits from consumer accounts via interbank GIRO –Same day collection (For DBS accounts) –Available even on Saturdays (For DBS accounts) –Collection status file delivered electronically DDA Maintenance –Outsourcing of DDA setup using DDA mandate forms to DBS –Shorter DDA setup time for DBS/ POSB account holders

8 Manual processes Automation of manual processes - Collection: eDDA –Paperless DDA setup process using the subscribers ATM card via a NETS terminal at Billing Organisations office –On-line real-time approvals –Streamlined process reduces rejects –24X7 Availability –DDA status file sent electronically for updating Billing Organisations AR system eDDA via AXS machines

9 Manual processes Automation of manual processes - Collection: Bill Payment –Allows collection from consumers with DBS/POSB SA/CA/Credit Card/Cash Line –Available through DBS iBanking 1 million ibanking users 24x7 ibanking –Proceeds credited next day –Daily reports available via IDEAL

10 Cost Cost reduction through: Automating instructions –Initiating payment /collection instructions through electronically –Internet banking/ Server to server –Discount on electronic payment – Banks pass the cost savings back to clients Product bundling –Multiple products are offered to clients as a single package Interest paying current account packaged with common transactions The Convenience of internet banking Preferential pricing on transactions linked to balance in the current account

11 Convenience 24x7 availability on the internet banking platform Flexible modes of transaction initiation –Models/templates For recurring transactions with pre-filled details –File upload Integration with your payments and payroll applications such as SAP, EasyPay, PayMaster, ACCPAC

12 Convenience Proxy Authorization –Generate response for proxy to authorise –Data integrity can be verified using hash total Hash Total for data integrity Challenge Code for Authoriser Total Transaction Amount

13 Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents. Case Sharing

14 Singapore Red Cross Cyclone Nargis/Sichuan earthquake – Approached Red Cross to use self-service channel for the collection of donations Once agreed, turn around for setting it up on bill payment was 24 hours DSB/POSB customers made more than 27,000 donations amounting close to SGD3.7 million 67% were done on-line through i-banking Proceeds were credited into the accounts on the following day

15 Churches Collections Cash deposits –Queue at the branch counters –Cash bag service GIRO DDA –For regular monthly tithing Bill payment –Collection credited directly into the account lump sum the following day –Daily bill payment report provide details Reference to differentiate tithing/building fund contributions Payments GIRO payment to suppliers Cheque outsourcing

16 Charities/Co-operatives Collections GIRO DDA –For regular monthly contributions eDDA –Real time approval for consumers with accounts with DBS/POSB Bill payment Payments GIRO payment to suppliers Cheque outsourcing for regular monthly payments

17 Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to parties outside the presentation. DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents. Thank You


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