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PermataBank’s branches to focus on loans
Publicly listed lender PermataBank will soon focus its branches on serving loan applications as its existing digital app has been able to handle all other services
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ublicly listed lender PermataBank will soon focus its branches on serving loan applications as its existing digital app has been able to handle all other services.
The bank saw that basic customer services could be carried out through its Permata Mobile X app, said chief information officer Abdy Salimin in Jakarta on Thursday.
As it will adjust its business focus, the bank will hire more loan application specialists to serve in its 325 branches.
“We need to shift the focus of our offline staff to loan applications — including housing loans [KPRs] — as other services can be handled through the app,” Abdy said during a media briefing.
With the change, the bank’s cost-to-income ratio can be further improved from 60 percent at present.
Last month, the bank launched a new version of its mobile banking app Permata Mobile X, which offers wide-ranging banking services, including fund transfers, account creations, credit card applications and bond purchases. In addition, customers can manage multiple accounts at once through the app.
The digital banking app is expected to serve as a one-stop banking alternative to existing offline branches, Abdy said.
“We also hope to cater to our customers’ lifestyle needs by integrating popular services, such as ticket-booking platform Tiket.com, in Permata Mobile X later this year,” he said, adding that the app had also been equipped with face recognition and fingerprint identification technology to ensure quick access.
Furthermore, Abdy said the lender had been trying to integrate big data technology with its everyday banking services. With the technology, customers would soon be able to receive their loans faster.
However, technological advancements generally come at a price. With its promise of fast online transactions and services, customers are at risk of being exposed to potential security loopholes that can be exploited by
cybercriminals.
In response to that issue, Abdy said the lender had implemented countermeasures to ensure the safety of its customers.
“Cybersecurity is one of our top priorities. We have special teams actively monitoring every online transaction made through our network,” he said, adding that the network has a built-in alert system that notifies the bank of potential fraud.
The latest data from PermataBank shows that the number of new accounts reached 65,000 in July from the monthly average of 4,000 before the lender was pushing for digitization. Approximately 25 percent of new accounts were created through the new smartphone app.
To date, PermataBank’s total digital transactions totaled Rp 1.22 trillion (US$85.05 million). Time deposits and savings accounts contributed to 36 percent and 25 percent of the figure, respectively, whereas mutual funds and bonds made up the remainder of the lender’s online payments.
Permata Bank — jointly owned by Indonesian conglomerate Astra International and British multinational Standard Chartered Bank — recorded a 56.18 percent decline in net profits to Rp 270.25 billion year-on-year (yoy) in the first semester of this year. The profit decrease was attributed to a 35.58 percent yoy increase to Rp 2.6 trillion in operating costs.
In 2016, Permata Bank recorded a loss of Rp 6.5 trillion amid swelling costs and rising non-performing loans.
The bank’s loans rose by 11 percent to Rp 87.9 trillion as of July 2018 from Rp 79.3 trillion in the same month last year. The bank hopes the annual lending growth can be maintained at double digits this year. (rfa)
