Knitting Business Synergy Between Bank and Fintech

INDUSTRY.co.id - Jakarta - Banks realize that it's not the time to see fintech as a business threat. Moreover, the bank began to collaborate with fintech companies in offering its banking services.

The trend of developing fintech in the country initially enough to make banks feel threatened will lose some of its financing business.

Later the bank precisely embrace the technology-based financial institutions (fintech), in addition to the creative efforts to develop services in the digital direction.

Bank Rakyat Indonesia (BRI) is one of them as stated by the President Director of Bank BRI Suprajarto.

According to him, BRI will cooperate with technology-based financial institutions (fintech) and support start-ups.

According to Suprajarto, embryonic start-ups are very feasible to be pushed forward.

We need to support from the financial side of the start-up weakness, "said Suprajarto.

Unmitigated, BRI plans to acquire venture capital firms with broad access to support the technology-based pilot.

Previously, Bank Central Asia had earlier signed Fintech in January 2017 by acquiring Central Capital Ventura for fintech financing with a capital of Rp 200 billion.

In addition to the development towards digital services BCA also issued applications Sakuku, to facilitate customers to do banking with just by phone.

Similar efforts are also undertaken by Bank Danamon with D-Cash application, and Bank BPTN with Genius application.

Similar but not the same, Bank Mandiri is also helping startup development so that these pilot businesses have more access to merchant and consumer networks.

The Bank Mandiri effort is to form MCI together with Lynx Asia Partners, Beenext and Midplaza Holding investing for Amartha.

In addition, Bank Mandiri also holds an annual routine competition for startup businesses in the field of fintech.

This time Bank Mandiri through Mandiri Capital Indonesia held a competition in the field of financial technology (fintech) on 18-19 October 2017 and titled Finspire to hook startup fintech potentially developed through financing and training.

There are 71 startups from home and abroad presenting fintech related products.

As stated by Senior Vice President of Bank Mandiri, Rahmat Broto Triaji, such activities as Bank Mandiri's efforts in developing creative industries in the country to create added value for the economy by improving the ease and efficiency of financial transactions.

BNI's management also expressed its commitment to transform into a digital financial institution.

As stated by BNI President Director Achmad Baiquini, the transformation through the concept named DigiNation is expected to improve bank performance and accelerate financial literacy.

Some of the products that will be developed by BNI in 2017 are BNI UnikQu, BNI Digital Loan, Social Help dashboard and Agent46 BNI.

Meanwhile, Bank Bukopin cooperates with Kibar Kreasi Indonesia to create a startup incubator named BNVLabs.

Later this incubator aims to accommodate all startup actors in Indonesia. This program will be integrated to encourage the development of fintech in Indonesia, said Director of PT Bank Bukopin Glen Glenardi.

With the establishment of BNVLabs, Glen continued, it is expected that more fintech startup will grow so that it can collaborate with the financial industry and also do the same.

In addition to developing new products, BNI will also partner with financial technology companies to meet the needs of customers who are increasingly demanding mobile business models, fast and concise.

Cooperation fintech and banking even more real. For example KoinWorks is launching the CIMB Niaga virtual account feature for its creditor. With this partnership, management expects to accelerate transactions.

CIMB Niaga has prepared itself as a first step to face cooperation as well as competition with fintech.

As stated by Lani Darmawan, Consumer Director of CIMB Niaga, IT investment bank CIMB Niaya is ready for cooperation with fintech.

To achieve this, according to Lani, CIMB Niaga has renewed core banking in 2016 and ensures we operate with the best system to compete with fintech.

Not to be outdone, PT Bank Tabungan Negara (Persero) Tbk (BNT) is also developing digital or fintech-based financial services.

By cooperating with Pondok Pesantren Al Ashriyyah Nurul Iman, BTN runs a fintech application designed with PT Data Aksara Matra, a fintech development company.

For BTN to see the number of santri who can be targeted through the program is quite large.

Ponpes Ashriyyah became the first target of Bank BTN because it has. Later the company will act as a pooling fund that provides products and banking services that support the welfare of Pondok Pesantren community.

Mobile account facilities, account opening, top up balances, and transfers between Bank BTN accounts and other banks can be used by pesantren related to about 15,000 students, 15,000 santri guardians, 300 teachers and 31 business units