PT Bank Rakyat Indonesia Tbk (Bank BRI), one of Indonesia’s largest monetary institutions, would integrate 3 central ecosystems (market, virtual, village) to drive the virtual transformation of the country’s micro, small and medium-sized enterprises (MSMEs). Sector. Bank BIS is a 70% public operating company.
BIS Bank, Indonesia’s oldest banking institution, aims to advance a sustainable business ecosystem as the country struggles to cope with the devastating effects of COVID-19.
Sunarso, president and CEO of Bank BRI at the webinar entitled “The Future of Digital Banking,” said:
“The crisis over the coronavirus pandemic has led us to innovate more quickly. We are synergizing the 3 ecosystems so that we can digitize MSMEs so that they continue to grow under the pressure of [] coronavirus”.
The initiative will see BRI Bank provide assistance in MSMES’ local business education, infrastructure development, branding and promotion spaces.
Sunarsus added:
“For the marketplaceplace ecosystem, for example, Bank BRI is helping classic marketplaceplaces by introducing online shopping, whether it’s WhatsApp, Internet sites, cellular programs or cooperation with start-ups. [We] built an Internet marketplaceplace that supports village returns [that] enter market locations and then [buy] through consumers through online shopping. Therefore, we are digitizing the classic market places ».
BIS Bank aims to expand its Internet markets to support even more classic merchants. CDO Trends reports that bis has lately 4,247 Internet sites on the market. The BPI also has 45,432 registered traders. The bank aims to expand into 5,241 internet markets while helping more than 52,000 local residents.
Key or strategic partnerships with virtual commerce corporations and auto-sharing services such as Tokopedia, Grab, Bukalapak, Shopee and Gojek will help those projects more.
Sunarsus noted:
“We continue to carry out advertising transformations, both digitally and culturally. Digital has become the DNA of bis Bank. We have also adopted open banking and opened up the option of using blockchain generation in business processes.”
THE BIS Bank has introduced several other virtual and Array products, such as BRIspot, Ceria (virtual loan and savings initiative) and BRImo. The bank also focuses on operating with fintech corporations by adding Investree, TaniHub, LinkAja, and works with P2P loans such as Modalku.