LPS Asks Banks To Improve Communication Effectiveness To Increase Customer Trust

LPS (Photo: Special)

JAKARTA - Member of the Board of Commissioners of the Deposit Insurance Corporation (LPS) Didik Madiyono said that effective public communication can create increased customer trust in banking, especially in today's digital era. According to him, the problem of relative information asymmetry is not caused by a lack of material but biased information in "Therefore, effective communication about the deposit insurance scheme to the public is very important to create trust at the expected level," he said in a written statement, Friday, March 19.

Didik added, based on a survey by the Financial Services Authority (OJK) in the 2019 period, it was stated that financial literacy in Indonesia is still low compared to other countries. "On this basis we are committed intensively to continue to socialize the mandate and functions of LPS by collaborating with various stakeholders. , including with media people in various forms of public education in order to maintain trust in banking, "he said. Educated also explained about the shift in consumer behavior during this pandemic. He assessed that customers now prefer various digital-based services. This assumption is evidenced by the increase in digital-based services that occurs in almost all financial service institutions. This fact is in accordance with the results of research conducted by the World Bank, Google, Temasek, and Bain and Company which call this phenomenon flight-to-digital. " computerization and digitization technology, the banking business model also continues to follow. "Technological developments will lead to more efficient banking, better customer service and a higher contribution to the economy," he explained.

For information, in Southeast Asia around 1 in 3 consumers using digital services were new consumers during the pandemic. Meanwhile, 9 out of 10 consumers who use new digital services will continue to use these services in the future. Even though Indonesia experienced a growth contraction at the minus 2 level. , 07 percent in 2020, but the internet-based economy in the country has been able to grow double digits by 11 percent of the Gross Market Value (GMV) at the same term. Furthermore, the LPS Commissioner reminded that one of the potential threats in digital development is digital inequality, aka digital inequality. He said this phenomenon is a risk with a level of possibility that will be faced in the next ten years, mainly related to cybersecurity issues. "In the long term, we need to be prepared to face the bad effects of technology. Therefore, it is necessary to prepare an adequate risk management plan in order to minimize the impact of the potential risks that may arise, "he concluded.