Image: Ridhwan Kamarulzaman

Bank Islam Brunei Darussalam (BIBD) is calling businesses to utilise the BIBD BizNet- one of the powerful offerings of the BIBD NEXGEN designed for the bank’s corporate clients. 

The facility, which is available in two versions, one being web-based and the other as a mobile application – allows corporate clients to conduct business transactions conveniently in real-time access from the comfort of their own home or on-the-go. 

Introduced in 2018 as part of BIBD NEXGEN’s suite of online banking solutions, BIBD BizNet comes with an array features including bulk payment management for payrolls, making enquiries and checking transaction histories for Current, Investment and Financing Accounts, conducting transactions in multiple foreign currencies and to make donations, among others.

Types of Packages

Clients are entitled to certain benefits depending on the type of package purchased namely; Inquiry, Basic, Standard and Premium.

1. Inquiry

This package can be obtained for free and clients will be able to enjoy three BizNet services which are the Account Summary, Transaction History and e-Statement.

This choice is suitable for businesses or clients who want to have a try of the product and see how the services can benefit them.

2. Basic

In the basic package, which is also free of charge, has more features than the Inquiry package.

For this, a client will also receive the first three features from Inquiry including four more items.

– Payments: fund transfer within BIBD, bill payment, TAP

– Cheque: cheque book request, cheque status inquiry, stop cheque

– Investment Account: placement, withdrawal, rate inquiry

– Top Up: prepaid top up plans for DES, DST and Progresif

3. Standard

For clients who need to have add-on services that allow fund transfers, this Standard package comes with two additional items.

One will get all items in the Basic package along with Bulk Services – payroll and direct debit, as well as Interbank Fund Transfers for local banks.

To enjoy the services included under this package, the client only needs to pay a $100 one-off set up fee – definitely value for money.

4. Premium

Meanwhile, for businesses that need greater coverage, one can opt for the Premium package priced at just $100 per month – even better!

At an attractive minimal price every month, a corporate client gets to enjoy more than 10 services all at once.

This package means all the services offered in Inquiry, Basic and Standard packages come with six extra items.

– Bulk Services: file upload for Mixed Payments (payments, interbank fund transfer, remittances), payroll and direct debit

– Remittances: telegraphic transfers

– Subsidiary Management: link up subsidiary account (s) to parent profile, transact on behalf of subsidiary

– Merchant Services: QuickPay

– Free first five security tokens 

– Extra or lost token will be priced at $20

Once a corporate client registers for BIBD BizNet, users are not required to pay any registration fees but subscription fees will be applicable when clients upgrade to the more premium packages. 

Furthermore, the online business banking service allows multiple users which can be further categorised into three major groups – Company Administrator, Company Signatory and Company User.

Image: Ridhwan Kamarulzaman

Why choose BIBD BizNet?

BIBD BizNet provides users with more intuitive access to day-to-day accounts and payment operations support with unique digital experience, all in 24/7 secure and real-time account access.

Corporate clients need not worry about the safety of using the online banking product as it has sound access control and security features.

They include individual access rights – account level, services and payment authorisation matrix; 128-bit encryption; two-factor authentication through Security Token; availability of audit rail information of activities by all users; and set up of multiple levels of approval according to company’s mandate.

Additionally, there is no better time to use the BIBD BizNet services than now as the country practices precautionary measures such as physical and social distancing in public places to contain the spread of the COVID-19 outbreak.

By subscribing to the online business banking service, not only it eliminates the hassle of having to physically go to the bank but it also helps reduce the risk of exposure to the global pandemic.

In the wake of the COVID-19 pandemic and in support of the Ministry of Health’s calls to practice social distancing, many consumers have been carrying out their purchases online and online-based businesses have been seeing a surge in sales – a trend that is currently experienced not just by local businesses in Brunei but also across the globe.

With BizNet, large businesses as well as micro, small and medium enterprises (MSMEs) will be able to manage their accounts easily in just a few clicks away; via the app and website.

BIBD is committed to helping local business progress regardless of current social and economic challenges and has prepared numerous initiatives to soften the impact of COVID-19 via its powerful BIBD NEXGEN suite of solutions.

The bank is also encouraging members of the public to Go Cashless and Go Digital as part of its initiative to promote the use of digital platforms among the public to address their banking needs anytime and anywhere. 

This article was first published on April 11, 2020 in our Weekly E-Paper issue 84

The Bruneian | BANDAR SERI BEGAWAN

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