TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

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...