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Jakarta Post

Who can lead in Industry 4.0 era?

  • Muhammad Shodiq

Jakarta   /   Mon, August 26 2019   /  01:07 am

Industry 4.0 has been impacting traditional financial companies through disintermediation, unbundling, commoditization and invisibility. Mobile applications play a vital role today in the development of e-commerce. According to the iPrice report on “The Biggest eCommerce Websites and Apps in Southeast Asia – Q1 2019”, there are more than 350 million internet users in Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam). E-commerce is the fastest growing sector in the internet economy, reaching US$23 billion in 2018 and expected to exceed $100 billion in gross merchandise value by 2025.Multiple aspects of disruption are impacting banks: One out of three millennials are open to switching banks in 90 days, and 33 percent of millennials believe that they do not need banks.Financial institutions are starting to lose customers as people switch to nonbank cha...