Danamon Cash Connect: One-Stop Internet Banking Services for Corporate Customers, SME Customers, and Entrepreneurs

Press Release / 11 January 2024

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Jakarta, 11 January 2024 – Entrepreneurs' goal is having a sustainable business growth. However, to achieve this goal, entrepreneurs will always be faced with various challenges. One of the challenges is ensuring that the company’s cash flow is managed smoothly, effectively, and efficiently. This is very essential, because having a good cash flow is one of the keys to success in managing a business.

In the midst of global challenges that demand speed and precision, cash flow management can now be performed with the help of current technology. This is due to the role of digitalization, which is believed to be able to assist both individual activities and business operations.

According to Gartner Inc.—a global research and consulting firm specializing in the analysis of trends and innovations in information technology (IT) and business—roughly 91% of businesses were considering implementing some kind of digital initiatives, and 87% of senior business leaders rated digitalization as a top priority.

In response to corporate needs for the availability of money management tool that can serve customer needs from upstream to downstream, banks are now competing to provide products and services that can support the effectiveness and efficiency of companies as client. One of them is through providing payment solutions via web and mobile banking by several large banks in Indonesia.

For customers of PT Bank Danamon Indonesia Tbk (Danamon), Danamon Cash Connect service as one of payment solutions provided by Danamon, is now even closer and accompanies daily financial activities.

“Danamon always prioritizes the best service for all range of business customers through Danamon Cash Connect as one platform which integrates various industries ecosystems for cash management services including digitizing financial supply chain. DCC supports the effectiveness and efficiency of corporate and SME customers in conducting their business transaction,” explained Andrew Suhandinata, Transaction Banking Head at PT Bank Danamon Indonesia Tbk.

Danamon Cash Connect application is now the most fundamental solution for corporate business players with easy and safe operation. Customers can use the Danamon Cash Connect service 24 hours a day and 7 days a week via an online connected network. Customers can carry out financial and non-financial transactions directly through PC devices (personal computer) and mobile at the customer's location.

In addition, Danamon Cash Connect will facilitate the process of domestic and overseas foreign exchange (forex) transactions, prepaid and postpaid PLN bill payments, BPJS Kesehatan, virtual accounts, and Telkom.  Through Danamon Cash Connect application, transactions can be carried out one by one or many transactions simultaneously.

Account Services, Transfer Management, Online Deposit (Time Deposit), Collection Services, Payment Services, Liquidity Management, Virtual Account (VA), Bill Payment, Tax Payment, and the Financial Supply Chain (FSC) are only some of the services offered by Danamon Cash Connect.

Danamon Cash Connect designed with high standards in the internet security industry for website authentication and is protected with sophisticated and up-to-date data encryption technology.

Besides that, in using Danamon Cash Connect, customers have access to 2 factor of authentication which are the password they use to log in and the security token they use to authorize transaction. There are 2 types of tokens to choose from, hard token or mobile token.

Danamon Cash Connect is very flexible and has capability to meet the requirements of a wide range of customers. Through Danamon Cash Connect, client can also manage their own account groupings, manage users and access rights, approval matrices, and transaction limits for each based on the customer's specific needs. Customer can obtain information on various Danamon products and services through Danamon Cash Connect, such as financial/non-financial reports, interest rates, exchange rates, and transaction status.

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