Danamon Bank enables fund transfer via Facebook

Indonesia-based financial institution Danamon Bank has launched its first mobile banking application dubbed ‘D-Mobile’ that will allow investors to transfer funds through the popular social network Facebook. The m-banking application is expected to benefit more than 2 million Danamon Bank retail customers and on a larger scale, mobile users across Indonesia.

D-Mobile allows customers to do core banking transactions including account information queries, fund transfers and bill payments via a mobile device, also offering personalisation features and connection to customers’ individual social media platforms.

One of D-Mobile’s newest innovations is the SosMed D-Cash feature, which is the first of its kind in Indonesia. Through the SosMed D-Cash feature, D-Mobile users can give funds to their Facebook friends.

This transaction can be done by log-in to Facebook and choose the Facebook friend who will be the recipient of the fund. Then, the user inputs the amount of funds to be given, and the application will prompt the user to create a pass code and input the Facebook friend’s mobile phone number. Notification on transaction performed through SosMed D-Cash will be posted in the sender’s and recipient’s private wall on Facebook. The user then informs the pass code to the Facebook friend, who will use the pass code as one of the verification items needed to withdraw the funds from Danamon ATMs that are specially marked with a ‘D-Cash’ logo. Currently, 1.2 thousand ATMs in the country support this service.

Director of the bank said that due to the rapid rise in popularity of smartphones in the country, financial institutions are obliged to adapt to the demand for mobile services.

Earlier it was reported that fund transfer via Facebook was launched in India and UAE, Payspace reports

2014-11-23 ||mincom.gov.az