The Digital Economy Will Bring Significant Changes to Indonesia
JAKARTA (IndoTelko) The government believes that the digital economy will change two things: the shift from goods to services, and changes in services.
"Indonesia's economy is a very bright one. Speaking of the digital economy, what will happen is a shift from goods to services, and these services will change significantly," said Communications and Informatics Minister Rudiantara last week.
According to him, the banking sector is among the three critical sectors for which roadmaps are currently being prepared. "The government has prepared roadmaps for three critical sectors: banking finance, transportation, and the energy and mineral resources sector," he said.
"We are working with regulators and stakeholders to determine security standards so that each party doesn't create their own. Banking finance has standards that are aligned with international standards; core standards must be the same, although there are minor adjustments. Banks operate through clearing systems, so they can't use different standards," said Rudiantara.
He stated that the government is focused on security and infrastructure issues. With Indonesia's 2019 financial inclusion target of 75%, infrastructure must first approach 100%. Therefore, there's no reason to set financial inclusion at only 75%.
"What's being done is building infrastructure, continuing to accelerate 4G rollout, and completing the Palapa Ring project in 2019 so that no capital city or regency will be without broadband access. The West Palapa Ring package was completed at the end of the first quarter of 2018. The East Palapa Ring will follow," he concluded.
Meanwhile, BCA Director Suwignyo Budiman revealed that BCA has engaged with startups through the company's venture capital subsidiary, PT Central Capital Ventura (CCV). "Many startups have expressed interest, but we are still in ongoing discussions to ensure their progress and support the banking sector," he said.
The digital economy has had a significant impact on changing banking business processes. Suwignyo acknowledged this, describing significant changes. For example, 10 years ago, while most people still visited banks, today only 3% of BCA's approximately 18 million daily transactions occur at branches. Meanwhile, 97% occur outside of branches, either through ATMs, EDC machines, or internet banking.
"The bank's functions are expanding. Our customer base continues to grow every year. Five years ago, BCA only had 8 million customers, now it has over 14 million. Demand is increasing, so we need more human resources. Business processes are changing, and the function of branch offices is also changing, with more consultations being provided. Routine daily transactions are moving to digital," said Suwignyo. (wn)
via Indotelko