SCENARIO PLANNING: HOW NEWCOMERS IN DIGITAL BANKING WILL EFFECT SMART DIGITAL BANK IN THE NEXT 5 YEARS

• Main Author: Badri Asmoro, Feizal
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/63874
• Institution: Institut Teknologi Bandung

In 2016 Pension Bank presented an innovation to change digital banking called Smart Digital Bank. It didn't take long for digital banking to gather hundreds of thousands of its first customers. This is thanks to the ease of creating an account that can be done only through the application. However, in 2017 and beyond, digital banking began to appear from various banks. At the same time, many new Fintechs have also emerged. Provides convenience to make transactions and take loans. Smart Digital Bank as the first digital banking presence in Indonesia must be careful in responding to the many changes in the financial industry. This final project focuses on identifying key vocal issues, designing scenarios that may be faced by Smart Digital Bank, developing options or strategies to deal with these scenarios, and the business implications that Smart Digital Bank will receive from each scenario. Identification of key vocal issues, driving forces, and key uncertainties is carried out through literature studies and also interviews with several leads or managers at Smart Digital Bank. Scenarios, options, and implications are made through focus group discussions with leaders or managers at Smart Digital Bank. Based on the results of the interview and focus group discussions, it was found that there were 14 factors driving changes that could occur in the financial industry. Of these 14 factors, it was found that 2 main factors had the greatest business impact and considerable uncertainty. These two main factors are “Improvement of the digital ecosystem” and “Increase in fraud cases” in Indonesia. From these two factors, 4 possible scenarios were created, namely "Smart Digital Bank maintains its leadership", "Smart Digital Bank stays like current conditions", "Smart Digital Bank needs to be more creative", "Main objective is to survive". The implications of each of these scenarios can be observed from the growth of the digital ecosystem business and the increase in fraud cases that occur in banking. Adjusting product types, customer segments, and focusing on service improvement are strategies that can be carried out in all scenarios.