Indonesia's Financial Services: A Digital Revolution Fueled by Data and AI
Indonesia's financial services sector is undergoing shifts driven by digitalization and the burgeoning adoption of data and artificial intelligence (AI) for efficient processes and optimising customer personalisation and experience.
We hear from major banks in Indonesia, PT. BANK NEGARA INDONESIA (Persero) Tbk. (BNI), Maybank Indonesia , PT Bank Mandiri (Persero) Tbk. , PT Bank Syariah Indonesia Tbk. (BSI) on
Providing Comprehensive and Beyond-banking Services on Digital Platforms
Data and AI/ML-driven Processes and Personalisation
Pak Try Satria Jaya Siregar AND Darman Susanto Setiono shared how Bank Negara Indonesia (BNI) is Accelerating Business Achievement Through Artificial Intelligence in Banking.
BNI embraceS digital transformation to boost sales effectiveness and customer engagement. This includes the introduction of ASLa, an AI-powered chatbot using Large Language Models (LLM) to offer personalised product knowledge and recommendations. ASLa analyses customer data in real time, providing accurate suggestions and fostering natural interactions. It supports rather than replaces sales professionals, improving their productivity. Additionally, BNI has implemented Tableau Pulse for advanced data visualisation, enabling efficient performance monitoring and insights. Together, ASLa and Tableau Pulse exemplify BNI's innovative approach to leveraging technology for improved business performance and customer support.
Maybank Indonesia's digital journey over the past five years focuses on humanizing financial services by addressing customer pain points and offering comprehensive digital solutions with M2U ID App: Your solution to manage your saving, financial transaction and investment at your fingertips as shared by Pak Charles Budiman
Maybank Indonesia's strategy centres on understanding and addressing customer pain points, targeting segments with growth opportunities through superior products and convenience. This aligns with Maybank's mission to humanize financial services, making banking more accessible, faster, simpler, and secure. Key initiatives include the M2U ID App, offering features like digital savings, lending, payments, and wealth management. In 2023, Maybank enhanced its digital products with new investment options, Sharia-compliant trading accounts, and improved payment features, solidifying its position as the "Bank for All."
Bank Mandiri, one of Indonesia's largest state-owned financial institutions, aims to become Southeast Asia's best financial institution by 2032. Pak Mochammad Chaerudin from the Enterprise Data Analytics Group shared how they Optimise Engagement through Personalization with Analytics and AI.
Emphasising digital transformation, the bank enhances its Livin Super App and Kopra Super Platform to improve customer service. As a result, Livin' by Mandiri saw a 55% year-over-year increase, reaching 23 million registered users by the end of 2023. Bank Mandiri's mission is to integrate financial products seamlessly into customers' lives through simple, fast digital solutions. The Livin Personalization Campaign uses AI and algorithms to tailor promotions based on transaction behaviour, providing a personalised and efficient banking experience. Building on existing AI and ML technologies, the focus will extend to the Sukha platform, introducing a sophisticated content recommendation engine.
Pak Riko Wardhana highlights how BSI aspires to be a Top 10 Global Islamic Bank with 40 million customers by 2025. By focusing on sharia financial solutions and leveraging technology, BSI is Building a Sustainable Digital Islamic Ecosystem.
BSI aims to become a Top 10 Global Islamic Bank with 40 million customers by 2025, focusing on sharia financial solutions and leveraging technology for innovation and improved customer experience. BSI is transforming its digital channels, including mobile banking (BSI Mobile), BEWIZE, ATMs, QRIS, EDC, and Smart Agents, to create an accessible, sustainable digital Islamic ecosystem. Unique offerings include gold transactions and ZISWAF (Zakat, Infaq, Sadaqah, Wakaf). BSI's online onboarding via KYC Biometrics enhances efficiency and reduces environmental impact. Integrating all digital channels and expanding partnerships through Banking as a Service (BaaS) further strengthens BSI’s digital ecosystem and business growth.
We will be delving deeper into data and AI applications for Indonesia's Digital Economy at the upcoming AIBP Conference & Exhibition Indonesia this 6 August in Jakarta - be part of the conversation by signing up here.
