Medan, 6 December 2017 – With its vision of making a difference in the lives of millions of Indonesians, PT Bank Tabungan Pensiunan Nasional Tbk (SMBCI) believes that people from all parts of society wish to lead a more meaningful life. Through its business units, SMBCI provides access to finance, information as well as training so that all its customers have the chance to improve their life capacities.
In order to enhance financial access, especially for those people who have never previously been reached by banking services, SMBCI is giving its full support to the program known as Laku Pandai, an Indonesian acronym for ‘Branchless Banking Services in the Framework of Financial Inclusion’, which was initiated by the country’s Financial Services Authority (OJK). Through SMBCI Wow!, SMBCI is reaching out to people in remote corners of the country who have never before had access to banking services.
“Laku Pandai is one of the most important breakthroughs in reaching out to people in remote areas that have never been touched by banking services. This innovation will encourage an increase in point of sales transactions for customers, enabling them to do their banking activities anytime and anywhere,” explained Mohammad Reza Rizal, Sales Management Head of SMBCI Wow!.
SMBCI Wow! is a savings account that can be accessed using a GSM-based mobile phone. SMBCI Wow! utilizes USSD, or Unstructured Supplementary Services Data, technology, allowing it to operate on all types of GSM-based mobile phones (it’s not necessary to use a smartphone), even with a very weak signal. By September 2017, after its launch in March 2015, there were more than 200 thousand SMBCI Wow! agents serving as many as 4.3 million customers across the entire Indonesian archipelago.
“Customers can open an account as well as withdraw and deposit money through bank agents at very low cost. SMBCI WOW! also allows customers to perform numerous transactions including money transfers, mobile phone credit purchases, and the payment of various bills such as electricity, water, telephone, insurance, TV subscriptions and ticket purchases by means of a mobile phone,” Reza added.
One of the key factors in the success of this service product is the presence and role played by bank agents. They act as an extension of the bank in expanding the reach of its services to customers. “SMBCI Wow! agents can open accounts, and facilitate cash withdrawals and deposits. It is through these agents that we are able to serve communities which until now have been beyond the reach of banks,” he continued.
One of the SMBCI Wow! agents who has enjoyed great success in serving his community is Sunarto, a teacher at MAN 1 Stabat in Langkat, North Sumatra. He joined SMBCI Wow! as an agent at the beginning of 2016. Thanks to his tenacity and hard work, he has so far acquired more than 2,000 customers, nearly 80% of whom actively engage in transactions, including cash deposits and various payments through their SMBCI Wow! account.
Sunarto tells of how it is not just students at the school where he teaches who have become SMBCI Wow! customers, but also the parents of these students as well as people in the neighborhood where he lives. By saving money in SMBCI Wow!, members of the community have become more disciplined in terms of saving, including by putting aside funds for their children's education.
“Sunarto epitomizes the success story of a bank agent. He has not only managed to connect the community with the bank, but also actively encourages his customers to be diligent in saving for the sake of a better future,” enthused Reza.
SMBCI Wow! is one of SMBCI’s two digital innovations along with Jenius. In order to expand the coverage of its services and facilitate communities in accessing banking services, SMBCI has been actively developing digital platforms since 2013.
SMBCI launched SMBCI Wow! in March 2015 targeting lower-middle income communities that had previously not had access to banking services. Subsequently, the Jenius platform, intended for the consuming-class segment, was introduced to the public in August 2016.
In line with its overarching plan to become the best digital bank in the country, SMBCI is set to digitize all its existing business services. This includes leveraging technology for Daya, SMBCI's training and mentoring program aimed at improving customer capacities. SMBCI is also creating alternative channels with a customer-centric focus that prioritizes satisfying the customer experience. One of the goals of this is to eliminate the sole reliance on branch networks by adding customer touch points.
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