In order to provide greater transactional convenience for its customers, Bank Victoria’s internet and mobile banking feature offers customers the ability to conduct a variety of banking activities through their computers and handheld devices. This latest service from Bank Victoria is part of the company’s corporate strategy to implement greater technological advancements into its daily business operations. In addition to the launch of its internet and mobile banking service, the bank has also upgraded its IT system to the 2.30 version; this will improve the efficiency of the service provided by the bank as well as support its branchless banking strategy. Moreover, with Indonesia’s retail and corporate sectors increasingly utilising digital technology within their business operations thus internet and mobile banking service has become an important component of Bank Victoria’s expansion strategy. In accommodating the tech-savvy modern Indonesian consumer, the bank provides transactional convenience for its customers and allows Bank Victoria to stay competitive among Indonesia’s continuously digitalising banking industry.
With the number of tech-savvy Indonesians utilising the online platform as a means to fulfil their consumer needs, internet and mobile banking has experienced steady growth. Furthermore, with a large percentage of the domestic population having little or no access to financial services, the estimated 114 million mobile subscribers (IFC.org) provides immense potential for banks to expand upon their financial services. Through its internet and mobile banking service, Bank Victoria will be able to accelerate their service delivery and innovate on product variety and customisation.
As a fully-integrated bank, Bank Victoria’s utilisation of digital technology has enabled it to engage with clients seamlessly across conventional and digital channels. The bank’s endeavour into internet banking is combined with its strength in offering personalised customer experience. By focusing on digital initiatives to suit the customer experience, Bank Victoria is set to take advantage of modern technology in order to adapt its products and services to tailor-suit the ever-changing spending behaviours of its customers. Moreover, the bank will equip frontline employees with in-depth understanding on digital technology as well as its impact in the banking industry. Bank Victoria’s IT infrastructure development is part of the bank’s long-term plans to better anticipate the needs of its customers; especially of that in the retail sector, thus giving the bank a competitive edge among its competitors.