Digitisation trend paves way forward for Indonesian banks' E-money efforts
Large domestic banks such as Bank Central Asia, Bank Mandiri and CIMB Niaga expected to further drive digitisation of retail banking services and products in coming years. December 24, 2013 | ResearchThe Indonesian government recently launched a new National Financial Inclusion programme which puts greater focus on electronic banking to drive financial inclusion. Key elements of the grand agenda include:
Cash, in the overall transaction behaviour, remains prevalent in Indonesia and contributes more than 60% to financial transactions. Payment instruments such as debit cards and e-wallets have driven the shift towards less cash. Cash usage remains prevalent in Indonesia Figure 1. Shift in payment forms in Indonesia between 2010 and 2012 Figure 2. Domestic payment transactions in value and volume (2010 & 2013e) Challenges Indonesian banks face in implanting E-money payments:
Categories: Banks We Like, Channels, Indonesia, Mobile Banking, Retail Banking, Technology & Operationsbankswelike,Channels,Indonesia,Mobile banking,retail,technology, Banks We Like,Channels,Indonesia,Mobile Banking,Retail Banking,Technology & Operations, Keywords:E-Money, E-Wallet, BCA, Bank Mandiri, CIMB Niaga, Bank Danamon, Micro-Lending E-Money, E-Wallet, BCA, Bank Mandiri, CIMB Niaga, Bank Danamon, Micro-Lending
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