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Standard Chartered Bank and PermataBank form a Strategic Alliance with PT Asuransi Allianz Life Indonesia

21 November 2006

Jakarta, November 21, 2006 – “Virtual Account” is the latest breakthrough from Standard Chartered Bank working together with PermataBank, which was implemented for the first time with PT Asuransi Allianz Life Indonesia (Allianz) since November 1, 2006.

Virtual Account provides convenience to Allianz’s policyholders in paying for their insurance premiums. Furthermore, this integrated innovation will also increase operational efficiency within Allianz by solving reconciliation problems resulting from unidentified premium payments.

“I am very proud that Allianz becomes the first insurance company in Indonesia that implements the Virtual Account Innovation.  I am grateful for the good cooperation with Standard Chartered Bank and PermataBank, said Jens Reisch, the President Director of PT Asuransi Allianz Life Indonesia.  “The innovative insurance premium payment will profit our policyholders, where premium payment can be conducted very conveniently,” he added

This innovation developed together by Standard Chartered Bank and PermataBank, is evidence of sustainable synergy by the two institutions.  The development of this innovation was done under the Domestic Network Alliance (DNA) program, signed by Standard Chartered Bank and PermataBank on June 3, 2005.  With this program in place, Standard Chartered Bank widens the banking service coverage through the PermataBank network, especially in locations where Standard Chartered Bank has no presence.

“As strategic shareholder in PermataBank, Standard Chartered Bank has a commitment to bring these two financial institutions to the forefront position in the competition, as well as answering future challenges of Indonesian and global banking industry.  Our advantage as a foreign bank within the global market has been strengthened by the conducive local coverage and technologies of the PermataBank network,”according to Simon Morris, Chief Executive Officer of Standard Chartered Bank.

Meanwhile, Stewart D. Hall, President Director of PermataBank, said “We consistently develop a variety of current  technology  based facilities and services, diverse transactional network, and strategic partnership with various institutions.  The Virtual Account Innovation, whereby transactions can be conducted through our various conventional or electronic channels will simplify the transactions of Allianz clients and gives more flexibility.  It is our commitment to give prime and diverse service to our clients so they can have value added interaction with PermataBank.”

With the “Virtual Account” innovation, Allianz customers can enjoy the convenience in making premium payment, either conventionally (cash deposit and cheque clearing) or electronically (ATM Permata, and other Bank’s ATM through the ATM Bersama network, ALTO, and Cirrus).  The insurance premium payment solution through PermataBank network is integrated with Allianz operational account placed with Standard Chartered Bank.

Each of Allianz’s customer will own a unique “Virtual Account” number according to their insurance policy number.  The uniqueness of the “Virtual Account” number for the insurance policyholder enables Allianz to identify each and every insurance premium payment they receive.  This innovation is the answer to problems caused by data reconciliation and not to mention customers’ complaints caused by unidentified premium payment.

 

Standard Chartered – Leading the Way in Asia, Africa, and the Middle East

Standard Chartered Bank PLC is listed on the London Stock Exchange and Hong Kong Stock Exchange, and is included in the top 25 FTSE-100 corporations list based on market capitalization.

Standard Chartered Bank has more than 150 years experience in the banking world in various fastest growing markets.  Standard Chartered Bank has an extensive global network with more than 1200 locations (including subsidiaries, associates, and joint ventures) in more than 50 countries in Asia Pacific, South and East Asia, Middle East, Africa, Great Britain, and the Americas.

As one of the foremost international bank in the world, Standard Chartered Bank has more than 50,000 employees from 90 nationalities in various parts of the world.  This diversity is the essence of Standard Chartered Bank’s core value and support the Bank’s growth in line with the world’s development into a global market.

In Indonesia, Standard Chartered Bank is one of the oldest foreign banks in operation since 1863.  At this time, the Bank has 13 branches in Jakarta and several sub-branches in seven important cities of Jakarta, Surabaya, Bandung, Semarang, Medan, Surakarta, and Denpasar.  Standard Chartered Bank is one of the top five international Banks in Indonesia, serving Consumer and Wholesale Bank customers by combining deep local knowledge with the global vision and capability through various innovative products and services, and superb solutions which gain the Bank various recognitions.

For more infortation about Standard Chartered Bank, please visit www.standardcharteredbank.com/id

For further information, please contact:

Meilynda Aditianto
Corporate Affairs                                    
Standard Chartered Bank
Tel : (6221) 57 999 064
Fax : (6221) 571 9625
Email  : Meilynda.Aditianto@id.standardchartered.com  

Robin Bairstow
Head of Transactional Banking
Standard Chartered Bank
Tel : (6221) 57 999 424
Fax : (6221) 571 9625
Email  : Robin.Bairstow@id.standardchartered.com


PermataBank,Consistently Developing Various Facilities and Services

PermataBank is one of the foremost national banks in Indonesia, supported by excellent IT infrastructure and extensive and diverse distribution network, such as branch network, PermataBank ATM, PermataTel, PermataMobile, PermataNet, PermataShop, and a recently launched service, PermataBusiness.

The commitment to understand and fulfill customers increasingly diverse and flexible needs is consistently done through the development of various up-to-date technology based facilities and services.  An example of the recently launced facility and service of PermataBank is the cardless cash withdrawal on Permata ATM (Mobile Cash).  This innovation was recognized by the Indonesian Record Museum in June 2006.  A year before that, PermataBank also received similar recognitions for the real time online transfer between bank by short message service (SMS) through PermataMobile.

Strategic alliance with various corporations is also consistently done.  Such as PermataBank’s partnership with the airline company PT AirAsia Indonesia, to provide convenience to the customer in paying their ticket through PermataBank’s electronic payment system. 

This strategic alliance is complementing the facilities given to PermataBank’s customers.  Other services available are the school tuition fees, Telkom, PLN, Airline, Credit Card, KTA, Insurance, Tax, PAM and Cellphone Pulsa payment services.  With the addition of various other services, the customer could be in the future conduct all their transactiion payments through PermataBank (One Stop Payment)


For further information, please contact:

C. Guntur Triyudianto
Vice President
Head, Electronic Payment PermataBank                                 
Tel : (6221) 745 5888 ext. 10100
Fax : (6221) 748 60025
e-mail  : ctriyudianto@permatabank.co.id


About Allianz


The Allianz Group was founded in 1890 in Berlin, Germany. Today, Allianz is one of the world’s leading insurance and financial services companies and is represented in more than 70 countries all over the world. The core business of Allianz is focused on three major fields: Protection including property and Casualty Insurance, Provision including Life and Health Insurance, Performance including Asset Management and Banking.

Allianz has been present in the Asia Pacific region since 1917. Allianz operates in 14 markets in Asia-Pacific and employs more than 20,000 people in this region. Since 1996, the Asia Pacific regional headquarters is located in Singapore.

In 1981 Allianz established a representative office in Indonesia and in 1989 it was carried over to PT Asuransi Allianz Utama Indonesia; a general insurance joint-venture.In 1996, Allianz established PT Asuransi Allianz Life Indonesia; a life and health insurance joint-venture also offering pension funds.

Allianz Life Indonesia operates an agency network of more than 7.000 financial consultants. The company also cooperates with brokers and alternative distribution partners such as bancassurance , PT BUSS; a newly established distribution company, and Amway Indonesia. Allianz Life Indonesia currently has 75 sales offices plus outlets located in 43 cities all over the Indonesian archipelago, from Banda Aceh to Jayapura (Papua).

Allianz Life Indonesia has bancassurance partnerships with Standard Chartered Bank,PermataBank, Bank NISP and Bank Danamon.


For further information, please contact:

Adrian Dosiwoda
Corporate
Communication
Tel.: 021-2926 8888
Fax.: 021-2926 8080
Email:
Adrian.Dosiwoda
@Allianz.co.id

Press contact

Adrian Dosiwoda
Corporate
Communication
Tel.: 021-2926 8888
Fax.: 021-2926 8080
Email:
Adrian.Dosiwoda
@Allianz.co.id

Other information
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