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CO-WRITTEN / PARTNER | Staff Reporter, Indonesia

Rajiv Madane of Fiserv to speak at the Asian Banking and Finance Retail Banking Forum in Jakarta

His presentation will cover the next-gen customer experience journey in payments.

Rajiv Madane, head of products & strategy at Fiserv, is back to join us at the Jakarta leg of the 2017 Asian Banking and Finance Retail Banking Forum after missing the Bangkok leg of the roadshow.

The main focus of Rajiv’s presentation in Jakarta will be the story of Fiserv innovation as it applies to the Indonesian market. The session - Innovation in Cards and Payments - will cover the next-gen customer experience journey in payments and discuss the key components required for introducing these innovations within banks - building card control, creating customer convenience, and preventing card fraud. He will also discuss mitigating risks in the new digital world.

“I will also be on the panel discussion – Road to Digitalisation - sharing my views on the regulatory demands, changing customer expectations and technological advances affecting the ‘digital movement’ locally,” adds Rajiv.

Rajiv shares some of his views on the banking sector in Indonesia below:

What challenges and opportunities does the Indonesian market present in terms of cards and payments solutions?
Indonesia has a large unbanked population, and expanding the existing physical infrastructure is a major challenge for financial institutions. With digital banking solutions, banks have new opportunities that had not existed before with new business channels.

Merchants in various parts of the country can act as bank agents, offering digital payment services to nearby customers using e-wallet for small value payments, bill payments, and funds transfers. The proliferation of smartphones and mobiles give customers the ease and convenience of transacting anywhere, at any time of the day.

Rules of engagement in modern banking have shifted - digital payments and card control put the power in the hands of the consumer. This creates a new breed of customers who more connected to their financials, forcing the banks to continually find creative, new approaches and touch points to interact and provide value.

What makes Indonesia different from the rest of the Asian markets in terms of digital banking?
Indonesia, being a country of thousands of islands, requires an innovative banking model beyond the traditional brick and mortar structure, unlike other Asian markets like Singapore, Thailand, etc. We have experienced similar challenges in other regions with remote locations, including service accessibility and cash reliance.

Digital innovation has the ability to transform the way financial services are delivered. Fiserv has worked with financial institutions in these regions to bring to the table a proven digital model that simplifies banking, making it faster and highly accessible to a large and widely dispersed population.

Going digital can also reap significant savings for the banks – a larger reach, higher transaction volumes and quicker consumer adoption rates – all help to improve bottom-lines and stay competitive.

What are your expectations for the Jakarta leg of the Retail Banking Forum?
We are here to show and tell on innovative Fiserv solutions and how they are changing cards and payments around the world, and more specifically how they can be creatively deployed here in Indonesia. We are looking forward to meeting everyone at the event!

The Jakarta leg of the Asian Banking and Finance Retail Banking Forum will be held on April 5 at the Ritz-Carlton Mega Kuningan, with thought leaders from Bain & Company and EY leading the charge.

If you are interested to attend, you may contact Nikki Quiniquini at nikkiq@charltonmediamail.com or at +65 3158 1386 ext 238.

More information about the event can be found here.

To read the coverage of the Forum held in Manila last February 15, click here.

For the Bangkok leg coverage, click here.

The 2017 Retail Banking Forum will also be held in three more key cities across the region, namely Singapore, Kuala Lumpur, and Hong Kong.

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