Customers of one of Indonesia's largest banks can now do banking on the go with as the bank acquired a mobile banking solution from a Sybase subsidiary.
Indonesia's PT Bank CIMB Niaga Tbk (CIMB Niaga) issued a statement Tuesday (February 28, 2012) saying that it was now in a better position to expand its market with the Sybase mBanking 365 solution from Sybase 365, a subsidiary of Sybase, Inc. focused on mobile services.
The mBanking solution allows CIMB Niaga customers to transact with their bank, including related mobile services such as bills payment.
CIMB Niaga prides itself as a technology innovator, its representatives said. They also said that it was the first bank in Indonesia to provide customers with access to accounts through ATMs and the first to provide online banking services.
They added that in choosing a mobile banking solution, two factors influenced its decision—the customer application and the capability to grow with the bank's plans.
“The key challenge for us in building a mobile banking platform was finding the technology on which to build the customer-facing applications,” said Wan Razly Abdullah, Strategy and Finance Director, CIMB Niaga. “We needed a partner that could offer not only high reliability and a user-friendly interface, but also the technology to interface with the varying nuances of mobile network infrastructures across all the markets. With the Indonesian population at approximately 250 million people, these new mobile banking services will help us attract new customers and expand our market share significantly.”
Sybase 365 representatives noted that their company’s partnership with the bank is significant given the huge market potential in that country. Indonesia has a population of 250 million, with 150 million as mobile phone users. On the part of the bank, these figures represent opportunities to expand its market, thus, necessitating a reliable technology partner.
“In a market where more people have access to mobile phones than traditional banking services, CIMB Niaga has demonstrated tremendous leadership by thinking more creatively about how to deliver services to a previously untapped and under-served customer segment,” said Matthew Talbot, Senior Vice President, mCommerce, Sybase 365. “Our mobile banking solution will not only help CIMB Niaga build a more profitable banking practice, but also help transform the financial ecosystem in Indonesia.”
The bank’s representatives said the latest investment in mBanking allows them to look beyond the country's potential. “These new capabilities will not only help us expand our business in Indonesia, but also tap into the proliferating mobile economies in other Southeast Asian markets,” added CIMB Niaga's Wan Razly.
Sign up for CIO Asia eNewsletters.