Danamon Bank: Treasury Investment Products Solution

Danamon Bank is the second largest private bank in Indonesia and the fifth largest bank of Indonesia. PT Bank Danamon Indonesia Tbk. was established in 1956 under the name of PT Bank Kopra Indonesia. In 1976, the Bank's name was changed to its present name, Bank Danamon Indonesia. The Bank became the first private foreign exchange bank in 1976 and a publicly listed bank in 1989.

The Challenge:

Danamon Bank required a highly scalable solution for their Treasury Investment Products to be implemented in 16 weeks. Other requirements included:

That the solution be accessible throughout the branches
Capturing currency deposit deals from branches and post them to the SUMMIT system for further processing
Following the Bank’s operations and workflow for each type of transaction
Enable the debiting of the customer account in a real-time basis
Producing a “Pricing Chart” for the day
Real-time interfacing with core banking to achieve 100% STP
Importing/Updating huge customer details from Core Banking on a daily basis

The Solution:

aurionpro's dealPro product, an end-to-end solution that provides functionality from data capturing to reporting and analysis, was implemented. All of the Bank's requirements were met while the aurionPro implementation team successfully completed the delivery of the solution within the aggressive timelines.

The Results:

Automation of manual work, resulting in fast TAT
Real-time interface with core banking (ICBS) for online customer's account update
Real-time interface with core treasury (SUMMIT) for online Transaction and position update
Time to complete a Transaction Cycle reduced by 80%
Human error in terms of calculation is negligible, thus increasing profit levels
Rates are now centrally controlled and restricted
Operational cost was reduced by the implementation of chat feature