Danamon Wins Asian Banker Transaction Finance Award 2021

In recognition of digital initiatives and innovative solutions for partners in Cash Management and Virtual Account API services

Jakarta, September 5 2021  – PT Bank Danamon Indonesia Tbk ('Danamon') won the Transaction Finance Award 2021 given by magazine covering the entire region, gives the awards to recognize achievements and winners in the competition for market share, product and operational excellence. Previously known as The Transaction Banking Awards, the program evaluates the achievements of financial institution The Asian Banker which runs the most prestigious awards program in the industry. The award referred to the categories of Best Cash Management Bank in Indonesia and Best Virtual Account Initiative, Application or Program – Virtual Account API. The Asian Banker, a leading financial institution in cash management, payments, and trade and supply chain finance.


“This award proves that Danamon's digital initiatives are recognized internationally. This achievement was driven by our commitment to utilize technological innovations in banking products and services, especially with the aim of providing comfort and convenience for our customers and partners. This recognition certainly motivates us to continue pursuing and achieving high quality customer service and innovation standards. It also represents the fruit of our hard work in providing comprehensive solutions, supported by the application of the latest technology which is the key to this achievement,” said Transaction Banking Head Andrew Suhandinata.

Danamon earned the award for its role in providing cash management system services through real-time automatic payment and posting facilities. Through API services, Danamon also provides payment service solutions, online fund receipt services and real-time reconciliation, even during holidays. Danamon's central API service further enhances digital competency benefitting  all Danamon partners.

Each year, The Asian Banker recognizes achievements in key business areas and operations of the financial services industry in Asia Pacific, Middle East and Africa. A team of research managers conduct extensive desk and field research, plus interviews to determine the award recipients. Research methodology and transparent score cards are published and shared with the industry, while a Council of Advisors conducts independent validation.