(A screen grab of mobile app Jenius)

The latest product from Bank Tabungan Pensiunan Nasional (BTPN) may redefine digital banking, as it saves customers from the hurdles of going to the bank and waiting in line to meet customer service officers.

With the high dependence of millennials on communication technology to solve life’s issues, Jenius has arrived on the scene as a mobile app available in iOS and Android operating systems.

While it may be seen as a genial way to canvass new customers, especially the young who are not familiar with the commercial financial institution bearing the image as a bank for retirees, the app targets those who check their phones at least 200 times a day on average and shop online.

BTPN president director Jerry Ng said Jenius was the result of an 18-month customer survey and technology research designed to cater to the need for real-time life finance management.

“Digitally savvy people are eager for banking practices that are easy, smart and safe and can be carried out on smartphones.

“Digital technology has become a part of our daily lives, but unfortunately the banking system is slow to catch up with the changes,” he said at the launch of Jenius on Aug. 11.

Dubbed as the world’s first of such a service, the banking app offers a patchwork of features that included personalized name identification to replace account numbers a tool to request money — from other people’s account — and safe online transactions.

An applicant should first register to have an account by uploading a picture of their ID, a selfie holding their ID, the picture of signature and inputting their taxpayer identification number (NPWP).

When approved, the applicant will receive a computer-generated identification name, or $Cashtag, which can be changed to the name chosen by the applicant.

The new account owner will later receive a physical card to be used in transactions outside the Jenius network system, besides the virtual card that can be used for unlimited purposes. The customer can limit their balance for their virtual card to ensure safe online transactions, at least minimizing possible losses due to phishing.

Send It is a tool to transfer money without having to know the account number of the recipient. It is adequate to put in limited information about the recipients, either their $Cashtag, phone number or email address. The integrated national banking system, which has seen an integration of around half of the banks in the country, will take care of the rest.

With Pay Me, a Jenius user can request a money transfer, but only within Jenius system. When the recipient of the request clicks on the “agree” button, the money will be automatically withdrawn.

The app also has its Pay Bill feature for phone, electricity, TV cable or credit card bills all on one screen and One Touch for fingerprint identification.

To top up a balance, users can transfer from other bank accounts or to the nearest BTPN branch. A service center for Jenius is located at Kota Kasablanka shopping mall in South Jakarta.  

Three unique features in Jenius are created for smart financial management, with the Split Bill feature automatically reminding others how much they have to chip in and Dream Saver, which can set aside a required amount of money in a selected period of time.

The other one is Card Center, which enables the user to block a card — for a specified period of time or for good — and unblock it right from the phone.

Aside from all the features, the app has a fresh and fun design with consistent visual elements. It’s colorful with sheer white space, equipped with a pale green button that comes with effective instructions.

It can also be personalized with the use of an avatar and a Dream Saver feature user an upload a picture of their dream holiday destination or that big bike on screen.

Help desk is within reach on phones, email and messaging tool LINE, which could come handy but at the same time could become a liability, especially in internet blank spot areas commonly found even in big cities such as Jakarta.

The app uses only about 16 MB on devices, which is way smaller than the average app size of 23 MB. However, as it heavily relies on a stable internet connection and 4G network, the success in on-boarding the service and banking transactions will depend on when or where they’re taking place and on what type of device.  

Jenius is a no-brainer solution to digital life. However, it will take time for bank customers, particularly non-BTPN customers, to shift to the system.

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