BRI, BCA unveil new digital banking products for Indonesia

In a bid to expand their customer base, state-owned lender Bank Rakyat Indonesia (BRI) and private lender Bank Central Asia (BCA) have invested in new digital banking products.

BRI director Indra Utoyo said the new product was slated to launch before the end of the year. “Our new digital banking product will offer micro, retail and consumer loans,” Indra said last Thursday.

He added that the product was expected to expand the lender’s customer base and beef up its micro, retail and consumer loan business.

BRI’s new digital banking product would include the latest omni channel feature and biometric technologies, said Indra, adding that the bank had invested Rp 500 billion (US$ 34.83 million) to develop the new product.

Meanwhile, BCA has unveiled its plans for a new digital banking product that promises simpler transactions on e-commerce platforms. The product is expected to launch in October.

“The [digital banking] service will support transactions made through credit cards, debit cards and bank transfers,” said BCA financial director Vera Eve Lim on Monday, adding that the product would also offer support for financial settlements.