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Borneo Bulletin Yearbook 2023
BAIDURI BANK
Established in 1994, Baiduri Bank is
a member of Baiduri Bank Group,
one of the largest providers of
financial products and services in
Brunei Darussalam. The bank has 10
branches including its headquarters
with a workforce of over 700 people,
constantly in pursuit of innovation while
improving its digitalisation initiatives in
the fast-evolving market.
As a front runner in delivering digital-
first experiences, Baiduri Bank offers a
comprehensive suite of digital solutions
including its award-winning mobile
banking app, Baiduri b.Digital Personal
and dedicated business digital Internet
banking service, Baiduri b.Digital
Business. The bank’s digital innovations
are in line with BDCB Digital Payment
Roadmap which seeks to transform
Brunei into a digital economy as Baiduri
Bank continues to further develop
its services to enhance customer
experience and engagement.
The bank has also been adopting
modern
technologies
including
artificial intelligence (AI), robotic
process automation (RPA) and new
microservices to help automate existing
workflows.
Milestones
In recent years, the bank has embarked
on a digital transformation journey
with the aim of leveraging technology
to elevate operational efficiency,
analytical capabilities and ultimately,
customer experience. A strategic and
significant investment in this digital
transformation journey is the move to
cloud banking. On November 1, 2022,
Baiduri Bank signed an agreement with
Temenos, the world’s leading open
platform for composable banking, to
run its core banking services on a SaaS
platform in the cloud. With this move,
Baiduri Bank will be the first bank in
Brunei to operate its core banking
platform in the cloud under the SaaS
model.
When speaking on the future of
banking, the Chief Executive Officer
of Baiduri Bank Ti Eng Hui, said, “With
technology advancing at an ever-
increasing rate, the drive to incorporate
it into thebankingenvironment is part of
our sustainability plan. This investment
opens up new opportunities for the
bank by providing instant access to
world-class banking capabilities.”
Baiduri Bank was also recently
recognised as the Best Bank in
Brunei at the Euromoney Awards for
Excellence 2022. This marked the
very first time the award was won by
a Bruneian bank. Baiduri Finance, a
wholly-owned subsidiary of the bank,
was awarded the Finance Company of
the Year for Brunei at the Asian Banking
& Finance Retail Banking Awards 2022
for the first time. Baiduri Bank also won
several other awards, underscoring
its commitment as an institution that
constantly delivers banking excellence.
Leading international rating agency
Standard & Poor’s also upgraded the
bank’s long-term issuer credit rating
fromBBB+ to A-/A-2 with stable outlook.
This places Baiduri Bank in the high
investment grade category alongside
regional and international peers.
On the security front, Baiduri Bank
demonstrated its commitment to the
highest data security standard when
it was recertified to Payment Card
Industry Data Security Standard (PCI-
DSS) V3.2.1 for the ninth consecutive
year in 2022. The PCI-DSS covers