Bank Sinarmas Wins Two Awards At The Indonesia Technology Excellence Awards 2024

Photo: Doc. Sinarmas Bank

JAKARTA - Bank Sinarmas won two awards at the Indonesia Technology Excellence Awards 2024 which was held on Thursday, September 6, 2024 at the total hotel, Bangkok. The two categories of awards that were won were the Indonesia Technology Excellence Awards 2024 for Mobile-Banking for SimobiPlus Revamp, and the Indonesia Technology Excellence Award for Automation-Banking for MSME Loan Origin System.

Both awards were obtained for the successful development of the SimobiPlus mobile banking application, as well as the launch of the Micro, Small and Medium Business Loans Origination System (MSMEs) which is an automation of the end-to-end business process for loan originization, credit assessment, guarantee, and loan approval.

Bank Sinarmas President Director Frenky Tirtowijoyo said the innovation carried out on the SimobiPlus mobile banking application was a form of maintaining customer confidence and as an effort to continue to improve the quality of the application.

"Development of the SimobiPlus application has previously covered several other developments such as: online account opening, QRIS transactions, bill payments, and asset management," he said, in a written statement, Thursday, September 19.

With this development initiative, Bank Sinarmas has succeeded in increasing the total volume of transactions and the total transaction value of 15 percent and 51 percent in April 2024, respectively.

"Along with the progress in the SimobiPlus update, our achievements to date have shown that we continue to strive to provide the best products and services for customers," added Sendy, IT & Digital Experience Director of Bank Sinarmas.

Meanwhile, the development of the MSME Loan Origination System is designed to enable Bank Sinarmas to automate the credit acquisition process, starting from input of prospect data through mobile applications, loan assessment process, automatic risk assessment to automation of work flow approval to approve or reject MSME loan applications.

Launched in January 2024, this development is a combination of mobile applications and web-based applications that take advantage of a specially designed workflow approach to support the processing of credit applications needed by banks.

This system is used to enter prospect data and automate filtering processes that include integration with third-party systems and data providers. In addition, it is also equipped with a credit assessment machine and an automatic risk that provides the ability to perform credit analysis process automatically.

With the implementation of this automated system, Bank Sinarmas has succeeded in reducing costs and manual processes by 90 percent. In addition, banks have increased the accuracy of loan decisions through automatic credit assessments and reduced SLA for loan processing speeds by 75 percent.