For the 11th consecutive year, Baiduri Bank’s stellar performance and continuous dedication to service excellence has won it the prestigious title of ‘Domestic Retail Bank of the Year’ for Brunei. The eminent award, which was presented by Asian Banking & Finance (ABF) at their Retail Banking Awards 2023, recognises exceptional industry leaders who have introduced cutting-edge products, services and solutions that made a positive impact to their customers.
Lim Kian Chiong, Head of Retail Banking, Baiduri Bank attended the awards ceremony held recently at Marina Bay Sands, Singapore. Also on hand to receive the award was Ngo Yik Pei, Head, Retail Services and Sales, Baiduri Bank.
In a citation, ABF noted that Baiduri Bank’s retail banking business continued to show strong momentum in 2022, with its card business being one of the key growth drivers. “This is largely attributed to our vast merchant base, which is the largest in the country. We also built strong relationships with key players in various industries, which led to many fruitful collaborations,” said Lim Kian Chiong.
The Bank has successfully leveraged local and regional partnerships to co-create new financial solutions and deliver greater value to its customers. Some of its most notable partnerships include Baiduri QPay, a digital wallet launched in partnership with UnionPay International; DSTPay, digital mobile wallet in partnership with national telco provider DST; and the Royal Brunei Visa Card by Baiduri Bank, in partnership with Royal Brunei Airlines.
Baiduri Bank also provided contactless payment options at high traffic merchants across the country, which has seen strong uptake from local consumers. Recently, the Bank introduced www.maribali.com.bn, an eMarketplace project launched in partnership with a local company, to provide an alternative platform for MSMEs to offer their goods and services to both B2B and B2C customers.
As part of its digitalisation strategy, the Bank launched Baiduri b.Digital Business in September 2022 – the all-new digital banking platform for businesses. It also rolled out a number of feature enhancements for Baiduri b.Digital Personal, the Bank’s award-winning digital banking service for individuals.
While reinforcing its digital engagement channels and driving digital adoption, Baiduri Bank has also been transforming its branch network to meet the changing needs of its customers. “Increasingly, bank branches all over the world are evolving from being mere transaction hubs to experience stores that embrace both digital convenience and human interactions,” Lim Kian Chiong added.
“Over the past two years, we have been upgrading our branch amenities, including the flagship Baiduri Prestige Centre at our Main branch. We have also been expanding the automated banking facilities across several branches to cater for greater demand for such services. Our newest branch at The One, Batu Satu offers a good mix of digital experiences and personal consultation in a relaxed café banking setting. And this is how we envision the future of retail banking to be – providing a seamless service experience both online and offline, so that banking can be more accessible, personalised, and enjoyable.”
Commenting on the award, Ti Eng Hui, CEO of Baiduri Bank said, “We are truly honoured to once again be acknowledged by Asian Banking & Finance, who reaffirms our steadfast commitment to being a preferred financial partner to our customers and community. This is a testament to the success of our customer-centric, technology-enabled retail strategy, which brings us to the forefront of financial innovations.”
Since 2006, the awards programme has been honouring outstanding banks who have proven to be industry game changers in the banking and finance industry in Asia.
This year’s evaluation process was conducted by a distinguished panel of industry experts from Ernst & Young, Deloitte, PwC, KPMG Singapore, and Bain & Co.
