Introduction

Established in 2007 and licensed by Bank Indonesia, DOKU aims to pave the way for Indonesia’s digital economy. Today, DOKU has provided payment solutions including payment collection, B2B & B2C payments, fund disbursements and payment solutions that are used by 22,000+ merchants and 3.8+ million DOKU eWallet users with its extensive list of payment partners such as such as banks, convenience stores and fintechs. Similar to Wallex, DOKU strives to shatter barriers and limitations in the payments space through innovative solutions.

In this article, we will explore DOKU and Wallex’s business partnership and how Wallex’s cross-border payments solutions have helped DOKU in facilitating business transactions in and out of Indonesia for clients located in the United States and Europe.

The Challenge

As a tech company operating in the fintech industry where transactions are expected to be executed as close to real time as possible, DOKU is always looking for ways to improve their business processes. In doing FX trades in the past, DOKU found that sometimes physical paperwork and doing FX trades via phone was a challenge. Therefore, DOKU was looking to find alternatives to streamline their cross-border transactions needs.

The Solution

DOKU needed a platform for cross-border transactions that made the process simple, cost-effective and convenient. DOKU chose Wallex as its partner for processing international transactions for clients for a number of reasons.

The solutions offered by Wallex gave DOKU an effective and streamlined way of making cross-border payments on behalf of their clients. Speed, transparency, cost-effectiveness and convenience came as a result of working with Wallex. DOKU was also able to leverage the FinTech expertise offered by working with dedicated account managers, meaning DOKU was well equipped to serve clients with complex needs.

Apart from the fact that Wallex is a registered and licensed FinTech operator with a good track record, DOKU also picked Wallex as they recognised that Wallex, being a young and dynamic startup, would understand the demands of their clients - some of which are global tech leaders that make international transactions on a frequent basis with unique demands.

The Result

1.Transactions Initiated In Less than 1 Minute

One of the biggest advantages that DOKU benefits from after making the switch to Wallex is the ability to make transactions quickly. Wallex’s online platform allows DOKU to make transactions without making time-consuming trips to a bank. Initiating cross-border transactions only takes less than 1 minute, allowing DOKU to serve their clients with faster speed while focusing on other areas of their business.

2. Real-time Tracking and Notifications

DOKU benefits from real-time tracking and notifications when they make international transactions. Having full visibility of the transactions and their statuses, let DOKU have direct control of their funds while they are en route, which allows them to make better decisions and improve client experience as well.

3. User-Friendly Interface

Having access to a user-friendly online platform is very intuitive and it is super easy to initiate a transaction. The account dashboard makes important information visible with a simple glance.

4. Cost-savings

As opposed to the exorbitant FX rates and platform fees that local banks in Indonesia charge, Wallex’s international transaction solutions offered DOKU the best mid-market FX rates along with a flat platform fee regardless of the amount being transferred. It also helps in avoiding unnecessary intermediary bank fees. The result? Increased savings in money for DOKU on all their  cross-border transactions.

Transparency is important for businesses such as DOKU that make large scale transactions on a frequent basis. On top of fair rates, all costs were presented upfront -, there was no hiding behind fine print. The days of unknowingly losing money to hidden costs are gone for DOKU management.

5. Make Multiple Payments at 1 Go

Time efficiency is another benefit made possible with Wallex’s Bulk Payments feature. Transferring to 5 different parties in 5 different countries in one go is made possible, saving time and effort on DOKU’s end.

6. Better for Customers

The combination of speed, efficiency and expertise results in happy customers - DOKU is able to deliver satisfaction to its customers with the help of Wallex’s payments solutions. No matter the complexity or the urgency, Wallex works hand in hand with DOKU to keep businesses and global transactions running smoothly.

Take Your Business to the Global Stage with Wallex

DOKU is one of the many high growth businesses that Wallex has supported in Asia. Get in touch with our team of FX experts today and see how we can help your business manage its payment processes while saving time and money.