– High Security Standards: Partners follow bank-level security protocols, making their applications more protected from risks.
3. For Banks
– Increased Transaction Volume: Easier payments lead to more frequent customer transactions. Admin fees for top-ups and transfers also create new revenue streams.
– Attract New Customers: Integration with digital ecosystems helps banks reach younger generations who prefer instant services.
– More Diverse Products: From e-wallets and paylater to direct debit, banks can offer more through API partnerships.
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– Enable BaaS – Banking as a Service: Banks act not only as fund providers but also as infrastructure providers.
An example is the BRI Healthcare Ecosystem, which integrates BRIVA, transfers, and loan services into hospital SIMRS.
Patients can pay directly, doctors can apply for productive loans, and hospital cash flow becomes smoother.
The Future of Open Banking in Indonesia
Although the potential is huge, open banking also faces challenges. These include data security, customer education, and regulatory readiness.
However, with strict supervision from OJK and Bank Indonesia, and growing digital literacy, open banking is expected to become the foundation of Indonesia’s digital financial ecosystem.
Examples of Open Banking Implementation
A concrete example of open banking in Indonesia is BRIAPI from Bank BRI.
To date, more than 700 applications have been connected to BRI’s system through this service, including Tokopedia, Shopee, OVO, and other digital platforms.
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This allows users to complete transactions directly without switching between apps.
BRIAPI features are also comprehensive. They include debit card integration, BRIVA for instant payments, and BRIZZI as electronic money.
As the largest bank in Indonesia with more than 170 million customers, BRI continues to optimize its API services to ensure that customers, partners, and the bank all benefit from an integrated digital ecosystem.
Challenges of Open Banking in Indonesia
The presence of open banking brings many advantages. Many call it a key innovation in finance.
However, challenges remain. The main concern is customer data security. Some people are still worried about potential data leaks when third parties access their information.
