Bank DKI partners with Ayoconnect

Following this collaboration, Bank DKI will be enabled to facilitate transactions of 1000 digital services and products through the JakOne Mobile application, as well as to make KAI ticket reservations via one app. In the future, the companies aim to improve the transaction experience of customers and various digital banking solutions, in accordance with the needs, preferences, and demands of their clients. 

The deal was based on Open Banking technology services and followed the common plan of the companies to continue the acceleration of developing financial products through the use of open API-based technology. Following this process, banking solutions will be made available more inclusively, in a secure and efficient manner. 

During the first stage of the partnership, Bank DKI was incorporated into Ayoconnect’s Digital Product solution, the Embedded Lifestyle API. This integration offered access to an open API network that allowed Bank DKI users to make end-to-end KAI ticket purchases to more than 125 train stations across Indonesia, regardless of the time or the place the customers are at that moment. 

The collaboration between Bank DKI and Ayoconnect is in line with the plan of developing the digitalisation processes of banking services, which demands the capability of the financial industry to be adaptive and able to have partnerships with multiple parties, including financial and non-financial institutions and enterprises. 

Ayoconnect’s past partnerships and collaborations

The Open Finance API platform partnered with Mastercard in February of 2023, in order to modernise bank account-based payments and to co-design new Open Finance solutions in Indonesia. The companies worked on offering users a payment experience on merchants’ checkout that was simple, secure, and effective, as well as being debited directly from clients’ preferred bank accounts. 

The product was also set to allow customers to manage their bill payments more seamlessly, and billers to have safe and transparent timely payments. The companies also focused on providing improved client protection and disputing resolution capabilities. Thus, billers were given the possibility to remove recurring payment challenges, reduce drop-offs during checkouts, as well as ensure timely collections by giving their users a frictionless experience. 

The partnership leveraged Ayoconnect’s connectivity to the Open Banking APIs of Indonesia’s central bank, as well as Mastercard’s leading security capabilities such as cyber intelligence, tokenisation, and anti-fraud technology. The offerings were used to give a more streamlined experience to customers, with improved transaction security and privacy. 

Ayoconnect launched its API product in July 2022, when the service was designed to offer Indonesian companies recurring capabilities that could debit from clients’ savings accounts across multiple banks and financial institutions.