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Jakarta Post

Banks urged to build digital services

  • Dylan Amirio

    The Jakarta Post

Jakarta   /   Fri, March 31 2017   /  12:16 am

With the impending conquest of digital services through financial technology (fintech), banks must gradually shift their main transaction methods toward digital to survive new competition landscapes in the sector, experts and analysts have suggested. Currently, conventional financial methods dominate the way a majority of Indonesians conduct transactions, but with the appearance of many fintech firms disrupting the system, the trend is changing. However, it is also up to the fintech firms themselves to sustain their services so they can act as effective players in the industry.Mandiri Capital Indonesia (MCI) president director Eddi Danusaputro explained that currently, ATM transactions are still the dominant method of bank transactions for the Indonesian public, but the trend is declining due to the increasing shift toward mobile banking and the high maintenance costs that banks have to...