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This article provides you with three popular digital banking stocks in Indonesia. Nowadays, Indonesian can enjoy various innovative services offered by their national digital banking companies. The development of technology continues to transform the banking landscape in Indonesia. Digital banking companies in Indonesia have sprung up in the last few years. According to McKinsey PSF Asian Survey 2017, Indonesia’s banking customers are among Emerging Asia’s most enthusiastic adopters of digital banking. It will drive the industry to grow over the next few years positively.
The Indonesian Financial Service Authority defined a digital banking company as a legal entity that carries out its main banking business through electronic channels. Besides, the companies only operate through one office building or a limited number. In other words, they do not have branch offices (branchless) like their traditional counterparts. The authority requires specific capital for these digital banks. Furthermore, some digital banking companies have been listed on Indonesia Stock Exchange. Here we introduce you to the three popular digital banking stocks in Indonesia.
1. Pt Bank Syariah Indonesia Tbk (BRIS.JK)
PT Bank Syariah Indonesia Tbk engages in the provision of Sharia banking services. The company is headquartered in Jakarta Pusat, Dki Jakarta and currently employs 17,213 full-time employees. The company went IPO on 2018-05-09. is an Indonesia-based Islamic bank. The firm’s segments include Corporate Banking, Commercial Banking, Institutional Relation, Retail Banking, Treasury Banking & Head Office.
Its Corporate Banking segment serves business entities such as SOEs and their subsidiaries, state institutions, multinational companies, banks and non-bank financial institutions, including non-linkage venture capital, syndicated financing, public companies and securities companies.
2. Bank Aladin Syariah Tbk PT (BANK.JK)
PT Bank Aladin Syariah Tbk engages in the provision of financial and banking services to Mudharabah, Musyarakah, or other sharia-based contracts. The company is headquartered in Jakarta Selatan, Dki Jakarta and currently employs 301 full-time employees. The company went IPO on 2021-02-01.
The Bank is engaged in conducting business in the field of sharia commercial bank with its banking activities running by sharia principles. The Bank is engaged in using information technology to develop funding products, financing and other banking services, such as fund transfers, payments, purchases and others.
3. Bank BTPN Syariah Tbk PT (BTPS.JK)
PT Bank BTPN Syariah Tbk engages in the provision of financial products and services to remote unbanked communities and the lower income segment of society. The company is headquartered in Jakarta Selatan, Dki Jakarta and currently employs 13,899 full-time employees. The company went IPO on 2018-05-08.
The firm operates their business in one segment, which is financing using murabahah contract. The firm is focused on serving underprivileged families. Its products include funding and financing. Its funding products include Right Savings, Exact Deposit, Right Platinum Savings, Proper Savings Plan, Hajj Savings Account, Right Giro, Right Sharia Savings, Right Sharia Savings Agent and Proper Platinum Business Savings.
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