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BTN to develop property market ‘super app’
State-owned Bank Tabungan Negara (BTN) is looking to digital technology to grow its mortgage business into something much bigger.
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Then-BTN president director Pahala N. Mansury (left) attends the company's national working meeting in Jakarta on Jan. 10, 2020. (btn.co.id/BTN)
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tate-owned Bank Tabungan Negara (BTN) plans to use digital technology to optimize its mortgage loan (KPR) business in a sign that digital banking is capturing new territory.
Andi Nirwoto, BTN director of operations, IT and digital banking, said the lender had earmarked Rp 500 billion (US$35.24 million) of its 2022 capital expenditure (capex) for information technology, including the development of a “super app”.
“BTN’s digital mortgage ecosystem will encompass an end-to-end journey, from facilitating consumers’ property purchases to meeting their needs at home,” Andi told The Jakarta Post on Monday. He added that the ecosystem would also include a real estate marketplace and database as well as property price estimates.
“What [we aim] to create is a housing ecosystem. [The digital mortgage ecosystem] will also involve housing stakeholders, including the government, developers and architects,” said Andi.
The ecosystem is to comprise three applications: BTN Properti, BTN Properti for Developers and Smart Residence.
Read also: [ANALYSIS] Pandemic, property and technology: How fast can we shift?
To develop its digital mortgage ecosystem, BTN aims to cooperate with property selling platforms and develop its mobile banking services.
