During the Asian Banking & Finance Retail Banking Awards 2022, Baiduri Bank received the Domestic Retail Bank of the Year for Brunei award for the tenth consecutive year while the Finance Company of Year for Brunei was awarded to Baiduri Finance for the very first time.
According to Asian Banking & Finance, Baiduri Bank was awarded for their effective use of digitisation to strengthen their bank servicing capabilities and commitment to enhancing the banking journeys of their customers. Meanwhile, Baiduri Finance was awarded for their show of resilience and their proactive approach to supporting affected companies and individuals through innovative solutions.
Speaking on this achievement, Ti Eng Hui, Chief Executive Officer of Baiduri Bank said, “Our customers, partners and employees are at the heart of everything we do, so they in turn play the biggest part towards our successes. As a truly local organisation, we are very happy to be recognised as the Domestic Retail Bank for the tenth year running and for Baiduri Finance to be recognised as the Finance Company of the Year. Thank you to all stakeholders for their support.”
During a video interview with Simon Hyett, Contributing Editor of Asian Banking & Finance magazine, Lim Kian Chiong, Head of Retail Banking at Baiduri Bank touched on some of the factors that have led to the award win. ”Over the last twelve months, it has become even more important to manage uncertainties and expectations. Our primary approach towards this was to educate our consumers firstly by introducing and demonstrating the tools available to meet their financial needs. Secondly, by providing alternative and convenient methods of banking.” He elaborated that Baiduri b.Digital Personal is one such alternative.
“When the nation went into partial lockdown in August last year, we were ready to meet our customers’ financial needs remotely through Baiduri b.Digital Personal. Between September 2020 and September 2021, we saw a 53% increase in average monthly transactions and a 52% increase in our active user base.”
In a separate interview, Haliluddin Talib, Managing Director of Baiduri Finance, said the award is a great recognition of their market leadership and commitment towards continuous improvement. When speaking on the last 12 months, he said, “As innovators and pioneers in adopting technology to deliver services, the pandemic served as an accelerator to expand our service delivery through technology in areas that were earmarked for the future. Our online services, HP Online and Baiduri Finance Mobile app, are successful examples of our digital offerings. We were able to reduce our average loan processing turnaround time by almost 50% through HP Online whilst HP e-payments via the Baiduri Finance Mobile app increased by over 60%. We also introduced the Auto Direct Card which granted extra convenience to our customers as they are able to pay multiple HP accounts in one go.”
When speaking on the inaugural award win for Baiduri Finance, he said, “This international recognition will serve as a reminder that for a truly local organisation, with the right drive, framework and tools, competing in the international arena and staying ahead is achievable.”
Since 2006, the Asian Banking & Finance (ABF) magazine has been honouring and recognising the best of the best in the Banking and Finance industry in Asia.
The ABF Retail Banking Awards honours outstanding banks that have introduced groundbreaking retail banking products and services that proved to be industry game changers. This year’s nominations were judged by a panel consisting of prominent industry leaders from Ernst & Young, Deloitte, PwC and Bain & Company.
For more information on the Bank’s products and services, visit www.baiduri.com, follow the Bank’s social media accounts or call its 24-hour Customer Helpline at 244 9666.
