Tuesday, 11 August 2020

Amar Bank introduces Senyumku, Indonesia's first digital-only bank launched on the cloud

Amar Bank (AMAR), which has successfully built Tunaiku as a fintech pioneer in Indonesia, is realizing its commitment to improving people's lives through technology. Not long after Google Cloud announced the launch of its new cloud region in Indonesia on June 24th, Amar Bank announced its collaboration with Google Cloud in introducing Senyumku as Indonesia’s first digital-only bank launched on the Cloud

Cloud is one of the technological developments used in many industries including banking, in expanding the reach of its business. Since the regional launch of Google Cloud in Jakarta, Amar Bank has been using Google Cloud technology for various business use cases: deployment of various products and features, Big Data Architecture, AI and Analytics, etc. In terms of technology, Amar Bank is on track of continuous digital transformation in fulfilling customer needs and accentuating an outstanding customer experience. Amar Bank prides itself as a Bank that acts like a fintech but thinks like a bank, after becoming a fintech pioneer in Indonesia through Tunaiku. To lead the digital transformation, the flexibility, scalability, alongside the security of the whole IT infrastructure is of utmost importance. This is possible only through Cloud solutions. As per the Banking Regulations, Amar Bank cannot put its solution outside the country's Data Center or Cloud Provider. Thus, the regional launch of Google Cloud in Jakarta allows Amar Bank to use Google services.

The collaboration between Amar Bank and Google Cloud is supported by FIS Cloud and Infofabrica, and sees the Bank leveraging smart data analytics and machine learning to deliver “micro-personalized” customer experiences faster. For example, Senyumku provides intelligence about users’ financial health and offers them easy ways to manage their finances. The app prompts users about their individual savings and spending patterns and nudges them to build a habit of saving.

Regarding collaboration with Google, Vishal Tulsian, President Director of Amar Bank said, "We congratulate Google as the first mover in launching the regional Google Cloud in Indonesia. Google Cloud is providing top-notch Cloud solutions to our business, starting from the Kubernetes cluster solution with Google Kubernetes Engine (GKE) which allows us to manage and scale our services easily in a very costeffective way. Not to mention, Google Data Analytics and AI solutions are key to providing a better customer experience that is supported by data and AI. Above all, its world-class security standard helps us to give assurance to our customers that Amar Bank provides totally secure digital products & solutions with support from Google Cloud technology. To sum up, three big benefits - Scalability, Security, and inbuilt AI. With Google Cloud, we are building a unique offering that addresses gaps in the market, delivers a superior user experience and supports financial inclusion for all."

Google Cloud’s leadership in Kubernetes will enable Amar Bank to streamline processes and reduce costs, bringing scalability and agility to its portfolio of fintech-led solutions. As a result, the Bank can turn its focus to developing more innovative solutions and ecosystems, fostering Indonesia’s burgeoning digital banking sector.

"With Google's credibility and high-security standardization, Senyumku will become Indonesia’s first digital-only bank launched on the Cloud with the emphasis on speed and security. Unlike any other bank, Senyumku, powered by cloud AI, provides the intelligence and nudges the users to enable increased savings. This requires Senyumku to be highly responsive to the dynamic behavior of its customers. We hope that the presence of Senyumku can become a solution for the community to help them develop their saving habits and manage their finances wisely," Vishal added.

Cloud enables Senyumku to provide an easy and safe saving experience along with the facilities for its customers to control and monitor their finances via smartphone. Senyumku is specifically designed to encourage people to have saving habits with a better financial plan. By providing competitive interest rates, Senyumku is also designed to provide personalized information that can act as a personal reminder and financial advisor to its customers.

“Customers want banking to be as easy as possible and it’s AI that makes your user experience seamless and personal - you can’t do that without the Cloud,” said Megawaty Khie, Country Director of Google Cloud in Indonesia. “We’re excited to partner with Amar Bank on a new ‘first’ for Indonesia with Senyumku, and to help them advance their digital transformation journey.”

Currently, Senyumku releases the Lite version with features that can be enjoyed through four easy steps: validation, registration, Electronic Know Your Customer (E-KYC), and account creation. This version provides access and convenience for customers to try advanced features of Senyumku. Features that can be used in this version include personal financial management and investment in deposits. In the Lite version, customers can also experience the top up feature which makes it easy for them to add other bank accounts and e-wallets as additional information for personal financial management in Senyumku application. In the future, Senyumku will come in a full version with the sophistication of artificial intelligence (AI) technology to improve the financial advisory features and customers will be able to access all banking transaction activities.

"The presence of Senyumku provides convenience to itscustomers, especially during this pandemic situation. Now Senyumku Lite can be downloaded via Playstore, which makes it easy for customers to monitor their finances, anywhere and anytime only through a smartphone. Through Senyumku, we hope to help the society become more enthusiastic to save money to achieve their financial goals. We also hope that in the future, Amar Bank continues to answer the needs of our customers and bring smiles in their lives," said Amar Bank’s Head of Technology Kevin Kane.

Re-disseminated by The Asian Banker