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BCA’s Setiaatmadja: “Accelerating digital strategy vital to growing customer base and business stability”
The president director of Bank Central Asia (BCA), Jahja Setiaatmadja, talks about how accelerating the bank’s digital transformation has helped in expanding customer engagement and how the financial services industry will play out during the current crisis brought about by COVID-19

September 10, 2020 | Foo Boon Ping
  • Continuous expansion in digital capabilities is key to growing customer base and ecosystem
  • Customer engagement surged as a result of strategic digitalisation initiatives
  • Adopting conservative measures and sustaining ample liquidity as buffer for unforeseen events

Despite the headwinds triggered by the extraordinary disruption caused by the COVID-19 pandemic, Bank Central Asia (BCA) has continued to evolve its digital transformation to bring about expanded customer experience and tap market opportunities.

Jahja Setiaatmadja, the bank’s longtime president director, tells us that BCA has committed to growing its digital potentials to adapt to customer behaviour and position itself as a leader in digital based financial services.

Setiaatmadja is currently leading the bank in digitising its processes by focusing on enhancing their digital platforms such as internet and mobile banking to meet ever-changing customer needs and to stay abreast of the competition.

BCA’s initiatives resulted in a 72% increase in the number of accounts opened online to 6,950 transactions a day in the second quarter 2020 from 4,041 transactions a day in the first quarter of the year. The number of current and savings account (CASA) opened also grew steadily to 13% year on year (YoY) and 8.3% year to date (YtD) to IDR586 trillion ($39.75 billion) in the first half of 2020. Account balance also rose to 18% from the pre-pandemic times.

Setiaatmadja credits the significant increase in the bank’s digital banking transactions to key technological investments and its ability to turn market disruptions into opportunities.

BCA, Indonesia’s largest private bank, is also Southeast Asia’s largest lender by value with a market capitalisation of IDR789.58 trillion ($52.9 billion).


The following is the edited transcript of the interview:

Foo Boon Ping (FBP): Digital bank...

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Keywords: Digitalisation, Mobile Banking, Open Banking, Neobank, Cashless, Cashless Payment, Covid-19