STRATEGY TO INCREASE THE MILLENIAL AS THE INDIVIDUAL CUSTOMER TOWARDS SAVINGS ACCOUNT IN BCA, CIMB NIAGA, AND PERMATABANK

• Main Author: FIKHRI HUTAGALUNG (NIM 29316039), MUHAMMAD
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/29200
• Institution: Institut Teknologi Bandung

The individual customer savings account has the potential to grow in the Indonesian. The competition is considered highly aggressive with the offers of competitive products (including interest rate, fee, and charges), providing the channels, and delivers the service excellence. This condition is challenging the banks to acquire more the number of individual customer savings account in Indonesia based on the bank’s target market. Since savings account is a gate for the customer to be bankable. It is the solution for poverty reduction, increasing the wealth and aggregate the investment. Furthermore, the third party fund is utilizing for the lending activities to generate more profits for the banks. <br /> <br /> Through the analyzing from the external factor, the rising of FinTech is threatening the banking industry. Even though the barriers to entry are relatively low for the banking industry due to the regulation of capital requirement. Meanwhile, the internal factor shows the banking expected to deliver the function and service capabilities based on customer needs and behavior. <br /> <br /> The final project is focused on the strategy of increasing the individual customer savings account in Indonesia. In the current condition it is strengthening the five elements to meet the strategy of increasing the individual customer savings account: focusing on the mass affluent segmentation, developing the digital competency, deleveraging the branches, providing the products based on the customer needs and behavior, and engaging with customer after onboarding process to inform the strategy. <br /> <br /> The research methodology based on quantitative analysis supports the business strategy. It applied the convenience sampling due to time limitation and availability of population member who are conveniently to provide it. The information is collected from two sources data: primary data by the interview the internal staff and questionnaire that focused on 65 respondents from BCA, CIMB Niaga, and PermataBank customers. Moreover, the secondary data is obtained from the books reference, journal, and publications.