Summary: The ecosystem capability in Indonesia's banking sector is pivotal for driving digital transformation and maintaining competitiveness in the evolving financial landscape. This capability encompasses ecosystem interoperability and value management, enabling banks to seamlessly integrate with stakeholders like customers, partners, and third-party providers, fostering innovation and enhanced customer experiences. A recent survey of 49 banks revealed that building customer dependence through tailored services (29.85%) and fostering ecosystem interoperability (21.23%) are key priorities. By adopting business models focused on customer loyalty and collaboration, Indonesian banks aim to enhance efficiency, explore new markets, and address diverse customer needs, ensuring their relevance and growth in the digital era.
The capability of the ecosystem in the banking sector of Indonesia plays a crucial role in the digital transformation of financial services. This capability refers to the ability of banks to create and leverage interconnected networks of entities, including customers, partners, and third-party service providers, to deliver innovative and integrated financial services. This ecosystem capability is essential for banks to adapt to changes in the digital financial landscape and remain competitive in the market. In efforts to enhance efficiency, provide better services, and stay competitive in the continually evolving market, the banking sector in Indonesia has embraced a strong ecosystem approach. In this context, ecosystem capability becomes a key factor, with two crucial aspects within it: ecosystem interoperability and value management.
Ecosystem interoperability is vital in the digital transformation of banking because it enables seamless integration and collaboration among various stakeholders, including customers, partners, and third-party service providers. By creating a business ecosystem model that facilitates interoperability, banks can harness the strengths of various entities to provide innovative and integrated financial services. This is crucial to stimulate innovation, improve customer experiences, and maintain competitiveness in the digital era. Moreover, interoperability allows banks to expand their reach and enter new markets by collaborating with other entities to offer services that meet the unique needs of different customer segments. This is particularly important in Indonesia,…
