BRI TO FACE RP 1000 TRILLION ASSETS; WHICH BANKS ARE MAJOR COMPETITORS?

by Karnoto Mohamad

Amid emerging giant banks competition, Bank Rakyat Indonesia (BRI) shows a good performance. Having penetrating consumer banking domain and receiving succeed, ‘the king’ in micro banking becomes more agile and turns into a new challenger in transaction banking industries. Other banks should be vigilant to BRI because this new challenger possesses ‘power within’ to get rid of its rivals. Secretly, the bank also has ambition to get Rp 1000 trillion assets at least in 2017. How other banks compete with BRI? Which banks can achieve Rp 1000 trillion assets more quickly?

Most bankers ended 2011 with smiles on their faces. Although, the financial audit has not finished, they are optimist that the year’s performance will be as good as the previous years. They believe that they will make great profit. And among the bankers, the banker from BRI is the one having biggest grin.

BRI’s profit in 2011 is believed to have grown fantastically. Sofyan Basir, BRI’s ‘captain’ told journalists in the mid of January that he was optimistic of the bank’s ability to gain profit up to Rp 20 trillion.  When BRI reaches that amount of profit, it means that the bank’s profit has increased 74%. Then, it can be guaranteed that it has been grown higher than the industrial profit.  In other words, BRI does not only maintain its position as the biggest profit maker bank but also as a bank having wider and wider segment.

Many analysts expect the BRI can make profits of up to Rp15 trillion. When BRI reaches that amount of profit, it means that the bank’s profit has increased 40%. Then, it can be guaranteed that it has been grown higher than the industrial profit.  In other words, BRI does not only maintain its position as the biggest profit maker bank but also as a bank having wider and wider segment.  In 2010, banking profit reached Rp 57.31 trillion, and 20% of it was from BRI’s profit.

Bankers of other big banks should admit the beauty of BRI’s performance, especially Bank Negara Indonesia (BNI) whose asset belongings have been overtaken by BRI since 2007 and Bank Central Asia (BCA) which has been overtaken 2008. Seeing the growth of BRI’s asset in the last four years that is, on average, 25.12% per year, so BCA and BNI have to restrain first when they want to overtake BRI. Unless, these two banks make a strategic action by acquiring other major banks.  

Bank Mandiri as the biggest bank in Indonesia must not also take the growth of BRI’s business in granted. Bank Mandiri, which has sublime targets to venture into a regional market and to become one of Top five banks in ASEAN in 2014 and Top three banks in ASEAN in 2020, has to carefully observe quick progress and performance of BRI during the last five years.

                       

Besides, BRI has an ambitious target that is to reach Rp 1,000 trillion in 2017. When Infobank asked a confirmation on the case, Sofyan Basir did not deny it. The man who is the former of Bank Bukopin’s general manager even said that he was sure that target can be fulfilled in 2017. “It can be achieved five years from now,” he told Darto Wiryosukarto from Infobank last month.

 

It is clear that the ambitious target of Bank Mandiri and BRI seems like a competition between two ‘red plate banks.’ Besides, there are still BCA, BNI, and Bank CIMB Niaga which are considered to be the most prominent competitors for Bank Mandiri and BRI in regional market.

In the field of transactional banking, BCA is a bank retail which is advanced in term of its electronic delivery channel. Although the bank’s offices networks are only around 900 or less than networks of BRI or Mandiri, which are 6,542 and 1,430, but BCA is still capable of being ruler of the market (market leader), especially for low-cost fund savings.

Jahja Setiaatmadja, the president director of BCA, said that he did not want to comment on an ambitious steps taken by BRI and Bank Mandiri. When he was questioned over the chance of the achievement assets summed of Rp 1,000 trillion, Jahja calculated it could be reached in 2018. "In the next five years, BCA’s assets will be estimated around Rp 750 trillion. And Rp 1000 trillion assets will be achieved by 2018," he told Dwi Setiawati from Infobank last months.

According to Jahja, the growth of gross domestic product (GDP) will greatly affect banking business growth. Jahja is optimistic, when GDP is able to grow 8.5% per year, the plan to achieve Rp 1,000 trillion of assets can be manifest more quickly.

Then, how about BNI, which has ever been nicknamed as the largest bank in Indonesia? Considering reviews on the business growth over the last 10 years, BNI has not seemed to have the provision to declare that such bold target aspired by BRI.

           

According to a BNI internal source, after the tangled case of L/C fictitious Rp1.7 trillion in 2004, BNI seems to lose courage. According to Infobank Research Bureau data, among the 10 biggest banks, the average asset growth of BNI on the last five years is relatively low. However, in recent years the red plate bank is starting to be aggressive mainly to boost consumer banking market by recruiting experienced bankers from other banks. Last year, the business contribution from consumers in BNI is 17.9%, while the rest is corporation.

According to Gatot M Suwondo, the president director of BNI, the bank focuses on strengthening the fundamental finance and changing the business approach. "From product to customer centrix, centrix customer operating model is built and since 2010 the implementation process has been already underway. We expect it will fully be implemented in 2014," he told Jennar Siantang from Infobank via short message service last January.

Gatot added that the bank now having 1675 network outlets would focus on financing the superior industry, with value chain to develop consumer business and retail banking.

A main competitor of the top chart banks is CIMB Niaga. In terms of size, the bank ranks the fifth and its assets are far below Bank Mandiri or BRI with hundreds of trillion rupiahs gap. However, people should not take those facts for granted since CIMB group of Malaysia fully supports this bank—a bank's merger of Bank Niaga and LippoBank.

Another importance, in addition to having experience in regional area with its vision of becoming the most valued universal banking in Southeast Asia, CIMB Group is a business organization that aggressively acquiring other companies. CIMB Bank has opened branches in Singapore and has acquired banks in Thailand, Cambodia, and aiming at the Vietnamese market.

If among the existing areas Indonesian market has the best prospect, the parents company surely has a serious development plan for CIMB Niaga. Moreover, CIMB Group has targeted the increase in contribution of Bank CIMB Niaga in Indonesia, from 22% last year to 40% in 2015.

It is true indeed that there are no figures of the amount of assets that the bank wants to achieve. However, when Infobank was discussing with several directors of Bank CIMB Niaga in 2010, it came out a desire that the bank wanted to become the fourth largest bank in Indonesia. CIMB Niaga’s targeted position is still occupied by BNI. According to Infobank’s note, the excess of assets between CIMB Niaga and BNI is still more than Rp 100 trillion.

If relying on organic growth, CIMB Niaga needs more than 10 years to overtake BNI. However, if CIMB Niaga acquires banks with assets more than Rp 100 trillion, CIMB Niaga's desire to overtake BNI will be achieved in a short time. Moreover, if the merger plan between CIMB Niaga with Bank International Indonesia (BII)—as a last year’s growing issue—comes true. The merger discourse is very likely considering the BII is a bank-owned by Maybank, both of the banks come from Malaysia.

Arwin Rashid, the president director of Bank CIMB Niaga, was reluctant to respond to the discourse. But, when Infobank asked him couple time ago, he said the bank was possible for acquiring. “We don’t close the possibility for Bank CIMB Niaga to make acquisitions (over other banks) as a step of acquisition itself has become a behavioral CIMB Group to expand," he said.

Although only BRI puts a clear target on the attainment value of assets, business plans of those giant banks certainly illustrate the growth of assets to Rp 1,000 trillion. The question is: which bank can reach Rp 1,000 trillion of assets first?

According to calculations done by Infobank Research Bureau based on the assumption of the asset growth last four years, BRI will become the first bank which reaches Rp 1,000 trillion assets. BRI can accomplish assets worth Rp 1,232.83 trillion at the end of 2016, or a year faster than the business plan created by BRI. 

In the same year, Bank Mandiri’s assets will manage through Rp 1,002.41 trillion. For BCA, the achievement of Rp 1,000 trillion of assets can only be achieved by 2019. Meanwhile, for BNI and Bank Niaga, having assets of Rp 1,000 trillion is difficult to occur before 2020 if only relying on organic growth.

What power possessed by BRI so that it becomes the fastest bank heading to Rp 1,000 trillion? Corporate loans accounted 20% of the bank’s credit. However, the segments of micro credit, small and medium enterprises (UMKM) which offer more attractive margins will still be the land nurturing productive assets of BRI.

This kind of segments is indeed being contended among other competitors such as Bank Danamon, Bank Tabungan Pensiunan Nasional (BPTN), Bank Pundi, Bank Mega Syariah, and Bank Mandiri. Recenty, Bank CIMB Niaga also joins the rivalry.

However, BRI has been strong in this segment. Its competitors may innovate and expand aggressively in micro businesses. Yet, they cannot easily penetrate the blockade made by BRI's widespread network, comprising more than 40,000 permanent employees. Up to the end of the last year, BRI has had 424 branches office, 480 auxiliary branches offices, 4,766 BRI units, 854 cash offices, plus 1,195 Teras BRI.

 Even if its competitors join forces to besiege BRI, the "king" of micro banking still has the "power within." That is the power of cheap funds to lower lending rates. It should be noted, the weakness of banks focusing on the micro market is in the race for low-cost funds such as savings. If BRI’s mortgages interest rates are lower than those offered by its competitors do, they will be overwhelmed.

The structure of third party funds of BRI has been stronger since the bank entered the consumer banking business in 2007. BRI’s strategy in consumer banking is not only strengthening the bank’s liability, but also consumer loans such as housing loans and credit cards. Yet, based on the portfolios, the two items are still below its competitors’ products.

Recently, BRI has developed a new item which is in transactional banking business. BCA and Bank Mandiri are banks who are most serious working on the payment business. They should consider BRI as the tough rival.

Now, BCA is still in the forefront with the biggest income in electronic transactions. The same case occurs to Bank Mandiri which is serious in strengthening the infrastructure of payment business with budgeted capital expenditure payment of up to US$ 100 million per year.

However, BRI has bigger and broader customers bases. It becomes a nice point for developing a payment business. "My goal is to guarantee payments. I want to change people’s dependence on BCA. The bank has only had 11 million customers. My (BRI’s) customers are 25 million. Someday, people will flock to ATM BCA machine, but there are ATM BRI cards inside their wallets,” said Sofyan Basir.

Customers’ strength is what has driven BRI to launch electronic money (e-money). The money will be a retail payment instrument in the future. BCA has Flazz cards and Bank Mandiri has e-Toll cards. BRI has also had BRIZZI cards which circulated up to 95 thousand cards last year. BRIZZI cards are targeted to have circulated up to 250 thousand by the end of this year.

BRI ‘s steps to widen its business domains are contrary to what its competitors do. For example in term of business payment or consumer banking. The same case also occurs to the bank’s old business such as UMKM and corporate banking. However, BRI’s achievements in the two domains make the bank to be optimistic in gaining assets amounting Rp 1000 trillion.

BRI’s target to boost its assets up to Rp 1,000 trillion has surprised many competitors. However, there is more astonishing plan BRI wanting to do. Having successfully acquired Agro Bank and Bank Jasa Arta (later changed to BRI Syariah) and failed to acquire Bukopin, BRI secretly desires to go global. In the future, the bank plans to buy banks in Vietnam or the Philippines.

If BRI can make the plan come true, the bank will create a greater breakthrough than Bank Mandiri desiring to open offices in neighbor countries such as Malaysia.

BRI is aware that more stringent competition will be faced in the regional market. Yet, the bank is optimistic. Considering the bank’s long experience in micro banking, the bank indeed deserves to be in that state.

Appreciable ambition to explore overseas markets such as those BRI and Bank Mandiri are planning to do needs surely to be supported. Therefore, Indonesia will have banks which are not only heroes in ‘their own cage’. However, national banks should not ignore the domestic banking markets. There are still many opportunities in this country. The space for doing market penetration is still vast. National banks have also to keep eye in this matter; otherwise, the market will be taken by banks owned by foreign investors.

While striving to manifest their magnificent ideals, BRI and Bank Mandiri should also strive to be leading banks in meeting the needs of regulators and the people. The needs are to improve efficiency and offer cheaper interest rates to spur the country’s economic growth.

Customers’ loyalty swayed by curbs on rewards and gifts

By Karnoto Mohamad

Banks’ hankering to boost their profits may be hampered by Bank Indonesia’s policy urging them to cut interest rates and limit them in providing customers gifts. This situation becomes a new challenge for banks, as their competition is getting more brutal. They should strive so hard to nurture their customers’ loyalty. How is banks customers’ loyalty map in 2012?     

Bankers stare giddily at 2012 calendar. They are not worried of an escalating Europe crisis predicted in the middle of the year. They are afraid that their desire to make huge profits may be obstructed by Bank Indonesia (BI)’s policy ‘forcing’ banks to decrease interest rates and improve intermediation function.

Previously, BI had tried to reduce banks lending rates. In March 2011, BI issued a policy requiring banks to announce their base rates loan (SBDK). The policy could not reduce bank lending rates. However, BI does not give up.

The example was BI’s shocking step to cut benchmark interest rates from 50 basis points to 6% in the beginning of November. Some experts consider the step as too brave, because it is done in middle of the crisis escalating threat. BI also continuously criticizes efficiency problem and excessive profit margin resulting in the high interest rates loan.

At the Bankers Dinner on December 9, Bank Indonesia Governor Darmin Nasution reiterated that banks should show efficiency. BI requires banks to write loan interest rates in the Business Plan Bank (RBB). Besides, BI examines the practice of giving interest rates higher than the Deposit Insurance Agency (LPS), as well as limiting gifts to customers.

Darmin said that in other countries, banks are prohibited to offers their customers lottery or cash money. If the banks are promoting themselves, they should conduct it using proper promotion mechanisms instead of giving lottery and cash money, he said.

There is no doubt that banking industries in this country have been enjoying net interest margin (NIM) which is bigger than other countries. In October, the banking NIM was 5,95%. The number is likely to increase amid SBDK policy to decrease NIM. Previously, the banking NIM was 5,59% in the initial of 2011. Then, it reached 5,88% in March of the same year.

The big amount of NIM is supported by the high lending rates. Meanwhile, banking income is still dominated by net interest income rather than fee based income. In general, banks’ profit margins are taken from interest rates subtracted with banks’ costs of fund, their operating costs (overhead costs), and risks premium. Therefore, in order to decrease lending rates, BI urges banks to reduce their operating costs and costs of fund.

Besides, the high operating costs also indicate that the banks are not efficient. In this country, banks’ operating funds compared to their operating incomes (BOPO) are on average above 85%. The number is higher than average BOPO in Asia banking areas which range from 40% to 60%.

The problem is that overheard costs and costs of fund of banks are not the same. It depends on the bank’s size, its positioning and the bank’s business target. Banks focusing on mass markets such as micro and small segments will be desperate if they are forced to lower their NIM and BOPO. It is because operating costs for this kind of segments are high. Besides, banks working on the micro segments usually unable to compete in seizing cheap funds. Hence, a storebox of the third party fund (DPK) is dominated by expensive fare deposits. Not to mention that banks have to expand their official networks to enlarge their market penetration.  

Another hard challenge faced by banks is that they are prohibited to give any gifts and rewards, especially if it is for savings products. The absenteeism of gifts will not only affect small banks customers’ loyalty, but also customers’ loyalty of big banks such as Bank Central Asia (BCA). BCA has been becoming the market leader in savings. However, there is no guarantee that the bank, with its Tahapan BCA, will be able to keep the title when the bank’s iconic sparkling gifts and rewards are vanished.  On the other hand, banking industries which have been struggling for cheap funds throughout 2011 should work hard to maintain their customers’ loyalty. The customers’ loyalty is a precious matter for banks. Unfortunately, the loyalty is hard to create. According to MarkPlus Insight survey entitled Indonesian Bank Loyalty Index (IBLI) 2012, there is a decrease in banks customers’ loyalty in 2011.      

The research shows that despite customers’ satisfaction index increased, their loyalty index decreased.  It means that various sparkling gifts, good service innovation, and visionary loyalty programs cannot directly make the customers loyal. That is too bad because the banks have spent a lot of money for the projects.

There is no doubt that customers prefer instant gifts and rewards. The IBLI study shows the indication. During years, customers’ loyalty has correlated more with instant gifts or reward, than discount programs, special products offering with mortgages, or entertainment tickets.

A regulation to decrease banks’ interest rate and to omit cash back and gifts will surely bring new challenge for banks on maintaining their customers’ loyalty. The decrease of interest rate will likely have an impact on deposits customers’ loyalty. While, the customers’ motives will shift from investment to transactional needs. Therefore, they will not be too elastic to the decline in yield of saving products. The limitation in giving gifts and rewards, which have sweetened saving products, may put banks customers’ loyalty on a stake.

Therefore, it is no surprise that banking industries object the idea on limiting gifts or rewards. They consider BI as too interfering micro segments. They say that banks need to strengthen cheap funds structure. Besides, banks need to create good promotion programs to expand their market in this stringent competition world. In other words, gifts programs aim at pressing their costs of fund along with the increase in savings and the decrease in deposits. 

Besides, costs spend to give gifts are relative small. They range from 0,2% to 0,3%. “BCA has spent 0,25% from costs of fund for savings gifts. That is relatively small for a big bank like BCA,” General Director BCA Jahja Setiaatmadja texted Infobank last month.

Jahja said that he did not reject the idea of removing the gifts or rewards giving for customers making savings in banks. However, he said that the removal should be done simultaneously by banks. “We will do it if other banks are consistent in impeding giving gifts to customers,” Jahja stipulated.        

BCA maintains its position as a market leader in the savings market. So far, the achievement is the result of good promotion strategies, supported with electronic distribution networks (electronic delivery channel). BCA’s cheap funds structures are also stronger comparing to its competitors. Infobank Research Bureau records that per September 2011, the portion of savings in DPK BCA reached 54,18%.

BCA’s mastery of savings market is surely supported by the bank’s loyal customers. According to IBLI 2012, BCA becomes the bank with the highest index on customers’ loyalty. Yet, the index has been decreasing comparing to the last year’s index. Bank Mandiri has been consistently in the second position for six years in term of customers’ loyalty index. 

IBLI research does not merely evaluate loyalty index of customers. The research covering banking industries areas such as relationship, partnership, and satisfaction also measures loyalty index of credit card holders.

A tight competition between BCA and Bank Mandiri is vividly seen through customers’ loyalty and credit card holders ’ loyalty. The two banks seem wanting to prove which one is the best in the transactional world. Seeing from the number of automatic teller machine (ATM), Bank Mandiri has surpassed BCA. In 2011, the number of Bank Mandiri’s ATMs reached 9000 units.    

The credit cards holders’ level of loyalty between BCA and Bank Mandiri are almost equal. However, BCA is strong and hard to be surpassed by Bank Mandiri in term of credit cards business. Now, BCA has the highest loyalty index of the credit cards holders. In IBLI 2011 and 2010, Bank Mandiri was in the position. BCA, Bank Mandiri, and most of prominent banks releasing credit cards have experienced a decrease in customers’ loyalty index. In other words, banks issuing credit cards find difficulties in maintaining their customers.

The case of Irzen Octa, a credit card holder of Citibank who was allegedly abused to death by debt collectors, has made people cautious and reluctant to have or change credit cards. Besides, races on discount programs held by banks also make people do the same.

As it has happened in previous years, IBLI 2012 also calculates loyalty index of Islamic Banking Institution. For five years, two giants of Islamic Banking Institution which are Bank Mualamat and Bank Syariah Mandiri (BSM) are competing strenuously to maintain loyalty of their customers. The loyalty index between the two banks are tried to surpass one another. Three and two years ago, Bank Mualamat held the highest loyalty index. Last year, BSM was the champion. And this year, IBLI records that Bank Mualamat acquires the highest loyalty index.     

For the first time, IBLI 2012 gauges the loyalty index customers in the regional development banks (BPD). However, IBLI 2012 has only surveyed six BPD of 26 BPD. Bank Jateng reaches the highest loyalty index, followed by Bank DKI and Bank Jabar Banten.

It is a hard work for BPD to build customers’ loyalty, because the banks have captive market. Moreover, the banks have often been criticized on their service quality. The critics say that the banks’ service quality is less comparable to big and prominent banks. Therefore, it can be understood that the customers’ loyalty level of the banks are far less than other banks. For BPD that their services are still underestimated, the plan to limit gifts and rewards will make the banks more difficult to build customers’ loyalty.    

BI’s plan to limit gifts or rewards indeed has a positive purpose. That is to lower interest rates loan, so this country’s economic situation will be able to move smoothly and quickly. That is because when gifts and rewards are offered excessively, they will affect on interest rates loan. That kind of gifts and rewards will create unhealthy competition. Besides, they do not educate people.

Elimination and limitation of gifts and rewards do not only influence customers’ loyalty, but also affect in banking liquidity wholly. Based on Infobank Research Bureau, the needs of liquidity are influenced by two factors. First factor is the high credits growth. Credits grow faster than funds. This situation is like what have been occurring in a few recent years. Loans has grown 25,69% year on year since October. Meawhile, at the same time, DPK has only increased 19,02%.      

Second factor is to anticipate the possibility of global economic crisis, as the recovery of the European crisis is still uncertain. The condition will affect the drying up of the banking liquidity. When the crisis shakes this country’s financial stability, there can be funds withdrawal to be exchanged with foreign currency. Banks have diverse durability. Supposed a bank is swayed, there will be an emerging of systemic impact and migration of funds to some of the most trusted banks (flight to quality). 

(This article has been published in Infobank Magazine - No 394 January 2012)

Brand War in The Virtual World

Financial industries have embarked on digital era. Virtual world has become a competition battlefield for the industries. Financial services companies should start to be ‘online media literate’ and start to promote their brands there. A study by Infobank Research Beaureu and TwikleSpin entitled ‘Digital Brand of The Year’ finds out a diversity in digital indexes among financial companies’ brands and their products appearing and being discussed virtually. What are the correlations between brands’ digital indexes with their financial performances? What are companies possessing best brands’ digital indexes? 


by Karnoto Mohamad

More than 50 million people in Indonesia access internet. They carry out many activities, from news reading, receiving and sending email, searching and buying goods, until doing internet banking transactions. Besides, they also interact to others via social media, such as blog, friendster, facebook, myspace, twitter, plurk, and google plus.

A research has revealed that not all of the internet users in this country having bank accounts or insurance policies. Yet, most of them have accounts in social media websites. That kind of situation, adding up with the fact that the people are having great curiosity and consumptive behavior to the digital product, strengthen the necessity for financial services companies to build their brands in the digital world.  

The bigger a digital community, the mightier impact of its online activities towards a certain brand—no matter it is a corporate brand or product brand. This condition has been proven by a research done by Infobank Research Beaureu and TwinkleSpin during 2011. The research shows that in the virtual world, financial services companies’ brands can be put at a stake by a soundless discussion in the online media. Chirpings of a digital community may give various significant judgments. They may be neutral, satisfied, or disappointed. They can also be in form of compliments or insults.

The research, entitled ‘Digital Brand of The Year 2011’, is to measure digital perception indexes of some brands of financial services companies, including financial industry, life and general insurance, multifinance, and capital markets. The result portrays that some brands and their products appearing in the virtual world have different tones. They are positive, neutral, and negative. 

For banks category, Bank Central Asia (BCA) obtains the highest index (12.879). The bank’s mainstay product Tahapan BCA also gains the top index (3.742) as savings category.  Correspondingly, in the virtual world, BCA credit card achieves the highest reputation among other credit cards.

For Housing Loan or Financing (KPR), KPR BTN is still indomitable (1.343). Meanwhile, for islamic banking institution, BNI Syariah earns the highest position (27) among others, though Tabungan Muamalat (57) is the most reputable syariah product.

For life insurance, Asuransi Jiwa Bersama (AJB) Bumiputera 1912 gains the highest digital index (398). Furthermore, for the general insurance, Asuransi Sinarmas earns the best index (1.083).

Adira Finance records as the best digital index (1.934) in the category of multifinance industry, defeating other financings. For securities firms, CIMB Securities Indonesia is the brand gaining the highest index (1.062).

How big the impact of financial services companies’ brand images and their products in the virtual world towards their financial performance? Infobank Research Bureau reveals that companies receiving positive tones in the virtual world earn big-scale business revenues. Yet, such condition may not always reflect the companies’ positions as market leaders.

Tahapan BCA is an example of a product ruling in both the virtual world and market. Tahapan BCA, which has the highest position in digital index, is the leader in bank savings. BCA credit card that earns the best score for digital index has also become the market leader, after surpassing Citibank credit card.

Meanwhile, KPR BTN’s best digital index is also in concord with its position as the leader in KPR business. The position has not been overcome by other banks.

However, the aforementioned pattern does not occur in some financial services companies’ brands. BNI Syariah, which attains the highest digital index among other syariah banks, has smaller asset comparing to its competitors. The bank that is a relatively newcomer also possesses smaller funds than others do.

The similar case occurs at AJB Bumiputera 1912. The brand having the highest digital index for life insurance products only serves in the sixth ranks in term of premium incomes.

Based on Infobank Research Bureau, the high level digital indexes of financial services companies’ brands are influenced by the level of the companies’ digital technology usage and social networks.

Up to now, not all financial service companies have had specific strategy to advertise and promote their brands and products digitally. Besides, ages and characteristics of base customers also influence the perceptions of brands’ digital indexes.

Customers who are above 50 years olds generally are not active internet users. Therefore, they cannot express their opinions, compliments or disappointments about certain products via online media. However, customers under 40 year olds are actively internet users.

Nevertheless, seeing from customers’ purchasing powers, those who are above 40 or 50 years old commonly more settled financially. This condition becomes a factor hindering direct correlation between digital brands and business incomes.

Virtual world will be a strategic place for financial services companies to venture their brands for a long term. This is because the number of internet users will always increase along with the technology development and the country’s demography which are dominated by youth generation.

The citizens’ average age is 28 years old and the majority of internet users are 25 years. This financial service companies should not ignore these data to be used to strengthen their brands and market penetration. 

Youth generation in their 20’s will be prominent customers in the next years. People of the generation have been accustomed to chat with their peers using smartphone and to play Angry Bird game in their tablet computers. Considering that fact, the people will consider banks coming to them bringing printed brochures ‘Let’s save our money’ as silly. That kind of approach will not drag their interest, as they will see it as something out of date.

Taking account previous issues, BCA has attempted to penetrate in the virtual world by launching Tahapan Xpresi. The product, launched in October, is targeted to youths, especially internet literate generation. In order to making sure that the goal is achived, the bank employs a non-conventional strategy to advertise the product. BCA has conducted a Digital Campaign in social media. The bank launched www.klikbca.com. By doing this campaign, BCA has come in the digital community.

“The application has to be user friendly and quick in processing. Those are the points,” General Director BCA Jahja Setiaatmadja told Infobank in October.

Customers candidates are indeed able to fill application forms for the product via online, though they still have to come to banks in order to show their identity cards. This is difference from other shopping transactions where people can directly buy products in online shops which have been popping recently, as banking industries put security in the first place. Moreover, in this case, banking industries are dealing with people in the social media; there is no guarantee the people use real identities. Therefore, the banks should be extra cautious.

Amid the surety issue, banking industries have entered digital era. It requires the banks to equip themselves with electronic service channel (electronic channel or e-channel). These days, almost every bank has automatic teller machine (ATM). Apart from the ATMs are the banks’ private properties or from outsourcing, the point is that all the banks’ ATMs are getting inter-connected one to another, operated by switching companies.

ATM is a kind of e-channel. There are other e-channels such as internet banking and mobile banking. These facilities are a form of banks’ attempt to improve their electronic service to their customers.

The problem is that not all banks have had the facilities. Infobank Research Bureau notes that recently only 15 banks have internet banking and 12 banks encompass mobile banking.

Other financial institutions like insurance and multifinance companies should also welcome this electronic era. Financial services companies should be able to offer easier, faster, and safer services in this digital world.

Insurance industries now have been synergized with banking companies which have had electronic transaction infrastructures. This is because insurance companies that still depends on agents to ask for premium payments will be considered of out to date.

Financing companies have also developed online credit simulation. Besides, they build alliance with other institutions in order to give better and faster services. As an example, Adira Finance has enabled its customers to pay installments via ATM and to swipe debit cards at electronic data capture (EDC). The company also provides any cash based-payment points for them who do not have any banks accounts.

Financial institutions should not only develop fast and secure service channels, but also open their eyes to the existence of digital community. Moreover, competitions to increase brands’ images have reached virtual world. In this fast virtual world, customers’ trusts do not only establish from companies’ promotions and brands’ awareness, but mostly also from others people in the social media.

KOALISI MANDIRI-BCA SETELAH “DIPAKSA” BI

Interkoneksi jaringan ATM bank-bank belum memuaskan cita-cita BI yang ingin mendorong terciptanya interkoneksi nasional. Interkoneksi ATM Mandiri dan ATM BCA karena desakan BI? Adu banyak ATM masih terjadi? Karnoto Mohamad

EMPAT hari sebelum hari Idul Fitri akhir Agustus lalu, Darmin Nasution, Gubernur Bank Indonesia (BI) memanggil dua bankir papan atas ke “markas”-nya di Jalan Thamrin, Jakarta. Keduanya adalah Zulkifli Zaini yang menahkodai Bank Mandiri dan Jahja Setiaatmadja yang menjabat Direktur Utama Bank Central Asia (BCA). Menurut sumber Infobank, pemanggilan kedua petinggi bank raksasa itu berkaitan dengan efisiensi pembayaran melalui interkoneksi jaringan automatic teller machine (ATM). “Bukan dipanggil, tapi kami diajak bicara ya,” ujar Jahja sambil tersenyum saat dimintai konfirmasi oleh Infobank.

Mandiri dan BCA adalah dua bank terbesar sekaligus memiliki jaringan ATM terbanyak dan selama ini saling menutup diri. Hal ini sudah lama menjadi pembicaraan di BI sebagai regulator sistem pembayaran yang mendorong kedua bank dengan customer based sangat besar itu untuk saling menghubungkan jaringan ATM-nya. Dan pemanggilan petinggi BCA dan Mandiri Agustus lalu tentu bertujuan untuk mendesak kedua bank itu. Di depan gubernur bank sentral yang memberi tempo dua bulan itu, Zulkifli dan Jahja akhirnya berjabat tangan sebagai tanda setuju melakukan interkoneksi.

Jika kerjasama Mandiri-BCA tersebut terwujud karena desakan BI, boleh jadi interkoneksi ATM tersebut bukan karena kepentingan bisnis kedua bank itu. Apakah kesediaan Mandiri masuk ke Prima dan BCA masuk ke Link hanya semata-mata untuk menuruti kehendak BI?  “Ini lebih pertimbangan bisnis disamping untuk meningkatkan kenyamanan nasabah,” tepis Zulkifli Zaini secara diplomatis kepada Dwi Setiawati dari Infobank saat dimintai klarifikasi mengenai motif dari interkoneksi dengan ATM BCA.

Yang jelas, Mandiri dan BCA adalah bank papan atas yang terus bertarung merebut dana murah dan adu balap di bidang transaksional. Keduanya juga menjadikan ATM sebagai salah satu electronic delivery channel untuk menguasai pasar ritel. Sampai akhir 2010, BCA masih mempertahankan posisinya sebagai bank dengan ATM paling banyak. Tapi, Mandiri sangat ekspansif memperkuat infrasrtuktur teknologi informasi (TI) dan memperluas jaringan sejak dua tahun terakhir.

Pada 2011, belanja modal Mandiri mencapai US$110 juta, lebih besar dari anggaran 2010 yang sebesar US$75 juta. Per Juni lalu, ATM Mandiri sudah mencapai 8.480 unit, melebihi ATM BCA yang banyak 7.709 unit. Rico U. Frans, Senior Vice President e-Banking Group Mandiri, mengatakan bahwa Mandiri menargetkan memiliki ATM hingga 8996 unit sampai akhir 2011. “Tahun ini kami menambah ATM baru 1.500 unit plus meremajakan 1.000 unit. Tahun depan kurang lebih sama segitu,” ujarnya kepada Infobank Oktober lalu.

Mandiri dan BCA memiliki pangsa hampir 45% dari total ATM di Indonesia yang saat ini mencapai lebih dari 40.000 unit. Bahkan, dalam penggunaan layanan ATM plus debit per September 2011, keduanya menguasai pangsa 64%. Detilnya, BCA menguasai pangsa 15% dari segi jumlah dan 34% dari total volume transaksi. Sedangkan Mandiri memiliki pangsa 14,70% dari sisi jumlah dan 19,80% dari total volume transaksi.

Tahun depan, Mandiri masih akan menjadi bank dengan ATM paling banyak, dan BCA membututinya di urutan kedua. “Setiap tahun kami menambah mesin ATM 1000 hingga 2000 unit,” ujar Jahja. Bank besar lain yang belakangan sangat agresif menggarap pasar ritel melalui layanan elektronik adalah Bank Rakyat Indonesia (BRI). Per Juni 2011, ATM BRI mencapai 6.772 unit. (Lihat: Peringkat 20 Bank dengan ATM Terbanyak)

Sebagai penguasa layanan ATM dan debit, wajar Mandiri dan BCA saling berkompetisi serta cenderung menutup diri untuk interkoneksi. Apalagi BCA yang sudah lama unggul dalam bisnis transaksi dan menguasai pasar tabungan tentu tak mau e-channel-nya dicantolin sembarangan bank yang berisiko menggerogoti kue tabungannya. Di sisi lain, dalam roadmap sistem pembayaran BI, regulator sudah lama mendorong terciptanya interkoneksi semua jaringan ATM di Indonesia. Konsep ini sejalan dengan pola share service dalam arsitektur teknologi perbankan Indonesia (ATPI) yang dibuat Perhimpunan Bank-Bank Umum Nasional (Perbanas).

Selama ini, dengan banyaknya switching, bank-bank harus mengeluarkan biaya lebih besar untuk bergabung dengan beberapa jaringan ATM. Sebab, untuk masuk ke dalam satu jaringan bank harus mengeluarkan biaya membership. Jika semua ATM sudah tersambung, maka bank tinggal colok satu jaringan dan otomatis bisa terhubung ke seluruh ATM di Indonesia.

Kendati koneksi ATM Mandiri dan BCA berkat dorongan BI, namun seperti kata Aribowo, Kepala Biro Akunting dan Sistem Pembayaran BI, kerjasama Mandiri dan BCA bisa menjadi awal dari tahapan menuju national payment gateway (NPG). “Yang penting menurut saya adalah interkoneksi di tingkat switching merupakan konsep ideal bukan seperti konsep BCA dan Mandiri saja. Jadi bertahap ya, koneksi Link dan Prima dulu, pelan-pelan nanti connect semua,” ujar Aribowo kepada Infobank melalui BlackBerry Messanger bulan lalu.

 Selain Link dan Prima, ada dua lagi jaringan ATM nasional yaitu ATM Bersama dan Alto. ATM Bersama yang dikelola PT Artajasa Pembayaran Elektronis memiliki anggota 75 bank dengan jumlah jaringan ATM mencapai 30.000 unit. Sedangkan ATM Prima yang dikelola PT Rintis Sejahtera beranggotakan 42 bank dengan jaringan ATM 20.000. Setelah proses interkoneksi ATM Mandiri ke dalam jaringan Prima selesai, jaringan ATM Prima langsung melonjak menjadi 29.000 unit. Dengan kata lain, ATM Prima hampir menyaingi ATM Bersama dari sisi jumlah ATM yang dikelola, dan posisi tawar Rintis meningkat untuk menolak rencana regulator untuk memunculkan super switching sebagai operator National Payment Gateway (NPG). (Lihat: Merangkul Rintis, Menggertak Indosat).

Yang jelas, arah regulator untuk mengkoneksikan seluruh ATM yang ada di Indonesia makin memperketat perebutan dana pihak ketiga (DPK) terutama tabungan. Jika sebelum interkoneksi, BCA memiliki eksklusivitas untuk mempertahankan loyalitas nasabah dengan jaringan ATM yang luas, kini BCA harus bekerja lebih keras dengan kualitas pelayanan yang ditingkatkan agar migrasi dana tabungan tak mudah pindah ke bank Mandiri yang empat tahun terakhir dipuji karena pelayanan primanya.

Sedangkan Mandiri sendiri yang ATM-nya sudah terhubung ke jaringan ATM Link, ATM Bersama, dan ATM Prima, harus mempertahankan level pelayanannya. Sebab, seperti diakui manajemen Mandiri, penambahan basis nasabah yang diiringi lonjakan transaksi berisiko menurunkan service level jika tidak diikuti penguatan infrastruktur. Apalagi, ATM Mandiri kini bisa diakses oleh seluruh nasabah seluruh bank yang ada di Indonesia.

Di sisi lain, pertumbuhan transaksi merupakan indikator yang positif. Sebab, penghimpuan dana murah akan meningkat dan bisa bisa menggali fee based income melalui berbagai fitur-fitur pembayaran. Ketika lonjakan transaksi tumbuh signifikan, memanfaatkan interkoneksi ATM saja tidaklah cukup. Sebab, bank-bank harus menambah ATM baru baik dengan membeli sendiri maupun outsourcing karena secara industri jumlah nasabah terus bertambah. Selain itu, bank-bank papan atas yang menerima lonjakan transaksi juga harus giat mengembangkan SMS banking, internet banking, dan mobile banking, sebagai e-channel lain yang ke depan makin menjadi tren.

PERINGKAT 20 BANK DENGAN ATM TERBANYAK
No.	NAMA BANK	Jun-11
1	MANDIRI*	8.993
2	BCA	7.709
3	BRI	6.722
4	BNI	5.169
5	BANK CIMB NIAGA	1.510
6	BANK DANAMON ***)	1.083
7	BII	1.017
8	BTN ***)	745
9	PANIN BANK **)	694
10	BANK PERMATA	639
11	BANK OCBC NISP	627
12	BANK MEGA ***)	570
13	BANK JABAR BANTEN	432
14	BANK BUKOPIN ***)	369
15	BANK SYARIAH MANDIRI ***)	360
16	BANK DKI *)	350
17	BANK SINARMAS ***)	210
18	BANK SUMUT ***)	151
19	BANK SUMSEL ***)	142
20	BANK UOB INDONESIA ***)	141
	Keterangan:
	*): per September 2011
	**): per Maret 2011
	***): per Desember 2010
	Sumber: Biro Riset Infobank (birI)

Notes: Tulisan ini sudah dimuat di Majalah Infobank Edisi 392 November 2011