BRI Launches Web-Based Custodian Digital Innovation Named BRIFrens

Photo: Doc. Antara

JAKARTA - PT Bank Rakyat Indonesia or BRI launched a web-based digital custodian innovation called BRIFrens which can be accessed directly by BRI Kustodian customers so that they can transact comfortably and safely.

BRI EVP Treasury & Global Services Achmad Royadi said the launch was a form of BRI's commitment to carrying out digital transformation through digitizing banking services in Indonesia.

"We hope that securities holders can be faster and easier to access BRI's Kustodian services through BRIFrens," said Achmad, quoted from Antara, Wednesday, November 29.

At the beginning of registration, Achmad explained that customers can set their own authority to become users (users of makers), examiners (checker), and signatories (signers), and are managed by customers themselves.

Delivery of transaction instructions also does not need to send physical letters, so users simply upload data at BRIFrens, the examiner verifies, and approves by signatorship.

For the security side, BRIFrens is equipped with two-factor authentication (two factor authentication) using One Time Password (OTP) to the signing electronic letter and if portfolio reports are needed, it only needs to download from BRIFrens.

Ia menuturkan, layanan BRIFrens dapat dengan mudah diakses melalui laman https://brifrens.bri.co.id. BRIFrens akan terintegrasi ke dalam aplikasi layanan nasabah korporasi terpadu BRI bernama Qlola yang memudahkan nasabah korporasi mengakses berbagai produk dan layanan BRI dengan satu kali masuk (Single Sign On).

As of August 2023, BRI's Kustodian Bank's assets have penetrated IDR 1,000 trillion, an increase of significant compared to the position of managed assets in December 2022 worth IDR 555 trillion. The increase in managed assets is supported by an increase in the number of new cooperation and growth in managed assets from existing customers.

"This shows that the Indonesian capital market is still showing high resilience and is growing positively amid economic uncertainty at the global level.