FusionBanking Essence from Finastra powers Jenius digital bank in Indonesia

Finastra is helping PT Bank Tabungan Pensiunan Nasional Tbk. (BTPN) to unlock mobile banking services for Indonesia’s digital-savvy, ‘connected’ consumers. The FusionBanking Essence Digital platform is powering BTPN’s Jenius digital bank to deliver a simple, smart and safe new way for locals to manage their money.

Peterjan van Nieuwenhuizen, Head of Digital Banking at BTPN said, “Financial innovation is at the heart of everything we do and, through Jenius, BTPN is committed to pioneering banking to suit customer lifestyles. We have built a system that enables our customers to complete basic banking processes without going to the branch. With an expanding middle class and growing mobile internet use here, we saw the significant opportunity this creates for financial services. Our philosophy is ‘do good, do well’ and we want to embody that in all aspects of the bank. Our customers look to us for innovation and fast, efficient services. The Finastra solution helps us deliver on this goal, enabling us to embrace the increasing demand for digital and better serve our customers.”

FusionBanking Essence Digital delivers flexibility and agility to support BTPN in opening new avenues of growth and building its digital bank from scratch quickly. Jenius has already seen strong take up, overachieving on BTPN’s original app download goals. It also has significant potential to grow given the penetration of smartphones in the region and the large underbanked population.

The Finastra platform removes complex banking processes, enabling the bank to create highly personalized and easy digital experiences for its customers. Fast and secure sign-up and authentication make banking on the move simple.

“A new generation of mobile and online banking solutions is setting the bar for banks across the world. To thrive in today’s competitive retail banking market, an outside-in approach, which sees banks shape themselves and their channels around the customer, is a must,” said Simon Paris, Deputy CEO at Finastra. “We recognize the demand for simpler and faster digital banking. As well as helping banks to provide this service to their clients through next generation technology, if we can help them make a real difference to the way people bank and improve people’s lives in the process, all the better.”

In addition to meeting customer demand for multi-channel digital banking experiences, FusionBanking Essence Digital enables BTPN’s Jenius to attract better-priced funding and more deposits from a new market segment as well as to bring products to market faster. Modern software architecture has enabled the bank to quickly transform digital solutions into powerful sales engines and increase revenue opportunities. It will also enable it to continue evolving alongside the broadening digital landscape in Indonesia.

This deployment of FusionBanking Essence Digital is integrated with BTPN’s existing Finastra FusionBanking Equation core banking system. Built on 21st -century technology, both solutions provide a compelling offering for those banks which are looking to the future of software architecture innovation.