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BANKING & FINANCE
are accessible to audiences beyond Brunei, allowing
quick, efficient and safe payment transactions.
Among other digital innovations under Baiduri Bank
Group is Brunei’s first online securities trading
platform offered by Baiduri Capital. Customers can
obtain quotes, place orders and review their account
status and balance at their convenience through
the online trading portal. Customers also have the
opportunity to invest inmajor stock markets globally,
said General Manager of Baiduri Capital Peng Eng
Soon.
The bank recently partnered with Datastream
Digital Sdn Bhd (DST) to develop a soon to be
released e-wallet which will enable payments for
goods and services both locally and internationally
via mobile phones. The partnership will create the
largest digital payment ecosystem in Brunei with
connectivity to regional and international payment
platforms.
Elaborating on the bank’s digital banking initiatives,
Baiduri Bank CEO Ti Eng Hui said the bank has
always been in the forefront of innovation to give a
high level of customer experience.
“We believe that technology is an enabler not
a destination. Through technology, we hope to
deepen our relationship and engagement with our
customers. Baiduri’s new digital banking initiatives
aligns well with the country’s Smart Nation initiative
and AMBD’s Digital Payment Roadmap 2019-2025
for moving Brunei towards a ‘digital payment
nation’,” said the CEO.
Security as its highest Priority
Baiduri Bank is the first and only bank in Brunei
to attain PCI-DSS certification, a global card
payment security standard it first obtained in
2014. The bank is certified to PCI-DSS v3.2.1,
the latest version released by the Payment Card
Industry Security Standards Council. Prioritising
customer confidentiality and data protection,
having the certification is one of the ways that
the bank can ensure the highest level of data
protection for its customers, said the CEO.
Building Human Capital Capabilities
through Digital Solutions
In early 2020, Baiduri Bank Group, in partnership
with Moody’s Analytics, rolled out a structured
e-learning solution for its personnel in Retail
Banking, Corporate Banking, Wealth Management
and Trade Finance Services. The bank’s Corporate
Banking personnel will undergo a 60-hour course
that will culminate in an exam that assesses
their knowledge and practical application. Upon
completion, they will be awarded Moody’s
Certificate in Commercial Credit (CICC), the highest
certified level of competence in credit analysis and
loan decision making for bankers.
In December 2019, Baiduri Bank welcomed
two Bruneians into its Management Associate
Programme who will undergo a 12-month
development programme to build a solid
foundation for a banking career, coached by highly
experienced senior managers.
Baiduri Bank Group has also invested in a new
comprehensive cloud-based human resources
solution for recruiting, learning, performance
management,compensation,employeeonboarding,
and succession and development.
All these initiatives are part of Baiduri Bank
Group’s plan to continue investing in its human
capital to create a dynamic workforce and build
potential leaders for the future. This is in line
with one of the country’s main goals of Vision
2035, to be recognised for the accomplishments
of its educated and highly skilled people. It also
aligns with the AMBD Financial Sector Blueprint
2016-2025 of developing human capital,
addressing skill-gaps and educating locals
toward the financial sector, critical to Brunei’s
economic diversification.
Local Expertise, Global Reach
As the leading conventional bank in the country
with 25 years of operations under its belt, the
Baiduri Bank Group’s primary focus has always
been on the Brunei market. Starting out as a
commercial bank in 1994 catering to corporate and
high net worth clients, Baiduri Bank’s core business
now includes Retail Banking, Corporate Banking,
Consumer Financing, and Securities Trading. With
its global outlook and local commitment, the bank
offers access to global and local markets through
its products and services, said the CEO.
Global Recognition
The Baiduri Bank Group has been recognised
by numerous international publications for its
achievements and successes. In 2019, Baiduri was
awarded the Bank of The Year for Brunei by The
Banker (UK), the Best Bank in Brunei by Global
Finance (US), the Best Banking Group for Brunei by
World Finance (UK) as well as the Domestic Retail
Bank for Brunei by Asian Banking and Finance
(Singapore). Standard & Poor’s reaffirmed the bank’s
credit rating of BBB+/A-2 with stable outlook.