PT Bank Negara Indonesia (Persero) Tbk or BNI, shows its commitment in expanding financial literacy and inclusion in the digital era, especially with the rapid financial services integrated in one platform. This was revealed during the Indonesia Fintech Summit & Expo (IFSE) 2024 held by the Indonesian Fintech Association (Aftech) at The Kasablanka Hall Jakarta, 12 November 2024.
BNI Digital and Integrated Transaction Banking Director Hussein Paolo Kartadjoemena was also present as a speaker in the panel discussion entitled “Embed to Expand: The Future of Banks and Fintech”. The discussion was also attended by Head of OJK's Government Bank Supervision Department Defri Andri, President Director of CRIF Financial Information Institute (CLIK) Leonardo Lapalorcia, Partner of Pricewaterhouse Coopers Consulting (PwCI) Indonesia Rimko Nurral, and Team Head Digital Innovation Department of Financial Supervisory Service (FSS) of Korea Hwang Jung-Hoon.
In the panel discussion, Paolo emphasized the importance of embedded finance or financing that integrates digital banking services with other financial products and services in one platform (embedded finance). This effort plays an important role in improving the digital ecosystem and expanding financial inclusion, especially for underserved communities.
“It's about making it easier for people to access financial services without having to use a separate website or application,” he said.
In addition, embedded finance is also expected to boost digital transaction activity and transaction value in one ecosystem while also encouraging wider participation in the digital economy. Paolo gave an example of the convenience for e-commerce users who can shop through only one application, even choosing the most suitable and more profitable payment method. “For example, it turns out that there are discounts for purchasing options using installments or paylater,” he added.
However, Paolo reminded that ease of access must be accompanied by increased public literacy in using digital financial services. Literacy is very important to improve people's knowledge, ability, trust, and habits in making the right decisions in using financial services.
BNI continues to be committed to encouraging financial inclusion by actively participating in building an inclusive financial ecosystem through various digital financial service initiatives and innovations. Currently, BNI offers around 280 Application Programming Interface (API) services and works with more than 2,000 partners. The main objective is to expand financial services and increase the convenience of the public in transactions.
“BNI is committed to bringing innovation and diversity in banking services, so as to provide solutions that are more efficient and relevant to customer needs in the digital era,” Paolo concluded.