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PT Bank Rakyat Indonesia (Persero) Tbk - Digital Transformation Strategies

Publisher GlobalData
Published Dec 20, 2022
Length 26 Pages
SKU # GBDT17643513

Description

PT Bank Rakyat Indonesia (Persero) Tbk - Digital Transformation Strategies

Summary

PT Bank Rakyat Indonesia (Persero) Tbk (BRI) is a stateowned commercial bank. The bank offers retail and corporate banking products and related financial solutions to individuals, micro, small, and medium entrepreneurs (MSMEs), and corporate institutions. The bank’s product portfolio comprises current and savings accounts, fixed deposits, credit and debit cards, mutual funds, pension plans, and loans for housing, vehicle personal needs, and corporate financing, among others. The bank offers services such as wealth management, foreign exchange, treasury, cash management, trade finance, custodian, online banking, bank guarantees, and remittance services.

Launched in 2021, Sembrani Wira Accelerator program is a BRI Ventures initiative that aims to support early-stage start-ups in Indonesia. The program which runs for eight weeks provides participating start-ups with access to industry expertise, mentoring, and funding, while its also provides promising start-ups with opportunity to partner with BRI.

Launched in 2020, BRI Data Hackathon is a data science competition, where participants are asked to address the business challenges using machine learning methods. The three-month program has attracted 11,599 registered participants from various regions of Indonesian, while top 10 promising machine learning innovations will be provided with an opportunity to enter final round and win prize money.

This report provides insight into BRI's digital activities, including its digital transformation strategies, its innovation programs, its technology initiatives, its estimated ICT budget, and its major ICT contracts.

Scope
  • BRI began its digital transformation journey in 2016, which aims to enhance operational efficiency and customer satisfaction. BRI continuously carries out its transformation through various initiatives, such as business process reengineering, leveraging big data and AI technologies, and developing digital platforms.
  • BRI is tapping the power of AI technology for customer service through its virtual assistant Sabrina, and BRIBrain, a platform based on AI and big data technologies.
  • BRI banks on its big data capabilities for digitizing its business processes. BRI continued to improve its big data management capabilities, including implementation of Master Data Management and BRIOneData,
  • BRI partnered with Cloudera to leverage AI, machine learning, and data analytics technologies, to better understand its customers and deliver innovative solutions. It has implemented Confluent Platform and Apache Kafka that delivers real-time analytics for credit scoring, fraud detection, and merchant assessment.
Reasons to Buy
  • Gain insights into BRI's tech operations.
  • Gain insights into its digital strategies and innovation initiatives.
  • Gain insights into its technology themes under focus.
  • Gain insights into various product launches, partnerships, and acquisition strategies.

Table of Contents

26 Pages
Overview
Digital Transformation Strategy
Accelerators, Other Innovation Programs
Technology Focus
Technology Initiatives
Venture Arm
Investments
Partnership & Investment Network Map
ICT Budgets
Key Executives
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