Indonesia, with the fourth largest population in the world with 260 million people, is progressing the digital transformation of its financial services industry. Driven by the top-level banks in the country, the transformation promises great benefits, such as new products and services, convenience, efficiency, and reliability, to financial services users. The market also entices many technology providers and investors either locally or overseas. The regulators in the country are also being considerably responsive to the industry. The purpose of this research is to understand the digital transformation journey of the country's banking industry. "Overall, the Indonesia banking industry is catching up with the latest digital transformation best practices when looking at the vision, strategy, initiatives, products, and services. However, there are still several gaps, and there are opportunities to improve toward becoming the best banks," says Handojo Triyanto, senior manager, of IDC Financial Insights.
PT Bank Central Asia Tbk, Bank Indonesia, PT Bank Mandiri (Persero) Tbk., PT Bank Negara Indonesia (Persero) Tbk, PT Bank Danamon Indonesia Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, Otoritas Jasa Keuangan
Analytic applications, Cognitive/artificial intelligence, Customer relationship management applications, Digital transformation, Financial resource management, Governance, risk and compliance infrastructure, Integration and process automation middleware, Storage management software, Systems integration services, Technology buyer, eCommerce