Populix Study: Seabank And Bank Jago Become The Most Used Digital Banks

Beautiful Tanip, VP of Research Populix (photo: zoom screenshot)

JAKARTA - Indonesia's digital banking continues to grow. In May 2024, Bank Indonesia (BI) recorded a nominal digital banking transaction of IDR 5,570.49 trillion, an increase of 10.82 percent on an annual basis.

The latest Populix study entitled "Ecosystem Analysis Study and Perception of Digital Banks in Indonesia" reveals that security (31 percent) is the main factor that encourages the use of digital banks in Indonesia.

Another factor driving the use of digital banks is the flexibility in accessing applications (12 percent), complete application features (12 percent), integration with other financial services (11 percent), and the existence of special promos (10 percent) as the features sought from digital bank applications.

Among the number of digital bank users, Gen Z is the user who uses the most digital banks. Which means, Gen Z plays an important role in the digital economy ecosystem.

"Gen Z's openness to the internet and technology encourages this generation to have different expectations of banking products and services," said Indah Tanip, VP of Research Populix when delivering the results of her study on Tuesday, July 9.

Among the digital bank players in the country, SeaBank is the most chosen by Gen Z with a market share of 57 percent, followed by Bank Jago (36 percent), and Blu by BCA (26 percent).

Digital banks are the answer to their desire for fast, comfortable, and safe transaction activities. Therefore, digital bank players are required to continue to innovate in providing banking solutions and features that are in line with the expectations of cross-generational customers, especially Gen Z," added Indah.