CIMB Niaga penetrates into Indonesia’s underbanked segment via Go Mobile
The bank’s mobile banking app provides customers with ease of access in addition to reducing operational costs and traffic from conventional branches. July 09, 2013 | Levina LimPreamble CIMB Niaga is the fifth largest bank in Indonesia with over 600 branches and 2500 ATMs nationwide. Indonesia has a mobile penetration rate of 92% as per 2012 and the country’s mobile cellular subscriptions per 100 people reached 103 in 2011, which means that the average citizen possesses more than one mobile phone. Mobile penetration in the country is higher than banking penetration as three telcos have eaten into the banking revenue. The challenge CIMB Niaga realised that it would be difficult to compete head to head with other retail banks, which possessed superior branch volume, ATMs and customer base. By focusing on mobile banking, the bank hopes to gain market share through the fast-growing segment of young mobile savvy customers. To capture a competitive market marked by high dependence on mobile internet access, CIMB NIaga launched “Go Mobile” to meet the demand of customers who prefer to conduct their immediate banking needs through their mobile phones, in line with the bank’s strategy to penetrate further into “Hip, Young, and Mobile” users. The solution Go Mobile was designed with flexibility and reliability in mind, in order to enrich customer experience while they conducted their day-to-day banking activities. The bank engaged SAP as its technology provide for this project. The contract began in Q4 2010 and took nine months to complete. Go Mobile was launched on 23 February 2012. CIMB Niaga targets the unbanked via Go Mobile Figure 1. Key players in the Indonesian mobile money landscape A distinguishing feature of the service is its over-the air registration, where customers need only send a text message to a specific number to download the application without needing to visit a branch. The applicat... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Channels, Customer Centricity, Mobile Banking, Retail Banking, Technology & OperationsChannels,Customer Centricity,Mobile banking,retail,technology, Channels,Customer Centricity,Mobile Banking,Retail Banking,Technology & Operations, Keywords:CIMB Niaga, SAP, Go Mobile, Mobile Money CIMB Niaga, SAP, Go Mobile, Mobile Money
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