Indonesia to see even more digital banking innovations

FY Teng

Business and technology consulting house Accenture announced in March the opening of its Innovation Center for Financial Services in the capital of Indonesia, Jakarta. The facility is meant "to showcase leading digital and mobile-banking innovations designed to support strategic growth for banks and financial service providers in Indonesia," the company's representatives said earlier this month.

According to them, the Jakarta Innovation Center-one out of a network that spans the globe, and includes centres in Beijing (China), Bangalore (India), Chicago (the US) and Sophia-Antipolis (France)-gives Indonesia's financial industry executives access to some of their company's "best thinking" in mobile and digital banking.

"Indonesia's financial services companies understand they need to offer their customers the mobile and digital services they seek, and our new Innovation Center for Financial Services presents powerful solutions for doing so," said the Senior Managing Director of Accenture's Financial Services group in Asia-Pacific, Sushi Saluja. "[This centre] demonstrates Accenture's commitment to bringing the world's best solutions to our clients in the region to help them offer the most robust and accessible financial services possible."

The Accenture executives also talked about the centre being "a place for clients to meet for interactive workshops and to see real-world examples of new technologies that could be rolled out in Indonesia and throughout the ASEAN region."

"A rapidly growing number of Indonesian consumers are connecting to the Internet through mobile devices...[and] this has created new opportunity for financial services providers to engage with their customers using digital tools," they said. "[The centre] showcases digital solutions that financial services organisations can use to tap this growing market, including new unbanked market segments."

"This new centre gives our clients a hands-on opportunity to experience some of the latest innovative solutions offered globally," said the Managing Director of Accenture's Financial Services group in Indonesia, Hendra Godjali. "Accenture will demonstrate best in class thinking and help stimulate conversations about the most appropriate business models and technologies required for our clients to achieve sustainable growth in Indonesia and throughout the region."

The centre showcases the latest technologies and approaches employed by the world's financial institutions to: "support financial inclusion by providing peer-to-peer money transfers between mobile wallets"; "increase mobile banking services for existing clients by offering services to apply for new products via a mobile phone (from saving accounts to mortgages and wealth products"; "and, "offer more mobile payment options such as contactless payments at the point of sale, international remittances using a mobile phone, and redemption of loyalty coupons."