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BRI seeks mid-size banks to team up on e-money products
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Going digital: State lender Bank Rakyat Indonesia’s consumer banking director Sis Apik Wijayanto (left) and Indonesian E-Commerce Association (idEA) chairman Aulia Ersyah Marinto shake hands on Tuesday on the sidelines of a press conference regarding the BRI-idEA's Brilliant idEA Market event, set to be held over the weekend. (JP/Anton Hermansyah)
S
tate-owned lender Bank Rakyat Indonesia (BRI) is looking for mid-size banks to team up on developing products for its electronic money (e-money) brand Brizzi.
BRI consumer banking director Sis Apik Wijayanto said the bank was in negotiations with a mid-size private lender to launch a cobranded product. He, however, refused to reveal the name of the potential partner.
“We hope to seal a memorandum of understanding at the beginning of next year, then I will tell you the name,” he said on Tuesday.
Sis added that opportunities for cobranding were wide open as the central bank recently stated that it would not issue new e-money licenses. Only nine banks so far have the required license to issue e-money.
He admitted that compared to other banks, BRI had been slow in expanding its e-money product. Private lender Bank Central Asia (BCA), for example, has cobranded its e-money product Flazz with at least seven other banks, while state lender Bank Mandiri has cobranding agreements with three regional development banks.
Sis added that the number of Brizzi users had increased by 35.8 percent year-on-year (yoy) as of September to 5.24 million. Total transactions using the product, meanwhile, increased by 30 percent yoy to Rp 250 billion (US$18.79 million). (hwa)
