Indonesia Central Bank and GCEL Explore How BankTech Will Empower Increased Banking Industry Services.
Indonesia’s Central Bank Deputy Governor Dr. Sugeng convened a technical discussion with GCEL on November 6, 2019 in Jakarta, Indonesia to discuss how new technology will spur greater growth in the banking industry. The session was organized by Mr. Yugi Prayanto, Vice-Chairman of Indonesia’s National Chamber of Commerce and Industry (KADIN). GCEL introduced its Dynamic Product Offering (DPO) innovation, a new market making business trade instrument within the Digital Economy Platform’s suite of digital tools, that provides an automated mechanism to dynamically match product and service offerings with qualified customers.
The Banking DPO combines Trade Finance with Trade Credit Insurance and provides pre-qualified loan offers to targeted borrowers based on their business performance risk profiles, trade transaction characteristics and collateral being offered. The Banking DPO reduces the industry’s cost of customer acquisition, affords greater market penetration and optimizes the risk and return of financial services offerings.
The use of new digital tools delivered through the Digital Economy Platform provides a new USD 7.5 trillion market opportunity for the banking industry by 2035.