With about 260 million people, Indonesia poses tremendous opportunity for digitalisation in banking. According to Solidiance’s white paper, “Digital Evolution in Indonesia’s Banking Industry”, only 36% of Indonesia’s population is connected to formal financial institutions, leaving an estimated 150 million citizens unbanked. Gervasius Samosir, Associate Partner at Solidiance, stated that there are four key drivers pushing digitization forward. In order for banks to transform digitally, he added there are five core competencies needed to be aligned with their corporate vision and mission, namely business model, capability model, leadership and organisational DNA, products, and marketing.

Source: https://www.digitalnewsasia.com/digital-economy/indonesia-digital-retail-banking-penetration-set-hit-60-2020-solidiance

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