Finance Infrastructure Markets

BBCA Allocates IDR 200 B for Fintech

Bank Central Asia Tbk (BBCA) is investing IDR 200 billion for start-up financial technology (fintech) which is able to support its services. This is distributed through its subsidiary, Central Capital Ventura (CCV).

Hermawan Thendean, Senior Executive Vice President of Strategic Information Technology at BBCA, said the rapid growth of fintech and e-commerce requires a solid system connectivity with the banking world in order to accelerate payment transactions.

“We will collaborate with fintech, with Application Program Interface (API) which enables fintech or e-commerce players to connect with BCA banking services,” said Hermawan. Features that can be used via API are transfer, account mutation, ATM location, and payment with Sakuku applications.

According to Hermawan, fintech provides solutions for digital banking services that are less flexible. “The development of digital services feature in banking cannot be fast because feasibility must be tested and ask permission to the regulator. Fintech provides many interesting features at low cost, even some of them are free,” said Hermawan.

Bank Indonesia recorded the transaction of online trading services or e-commerce during 2016 reaching USD 5.6 billion. The average individual of e-commerce user spends IDR 3 million per year.

On the other hand, Center for Human Generic Research (CHGR) said Indonesia has the highest number of start-ups in Southeast Asia, amounting to 2,000 companies.

Henry Koenaifi, Director of BBCA, said that the company organized Indonesia Knowledge Forum (IKF) VI on October 3 to 4, 2017 to support the development of innovation and creativity based on digital. “BCA wants IKF to be a platform for corporations and start-ups to grow the business through collaboration and partnerships in
technology,” said Henry. This cooperation is expected to accelerate Indonesia’s economic growth in the future. (*)

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Hari Widowati

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