Banking Industry Strategies in Facing Market Changes and Digital Transformation in Indonesia
DOI:
https://doi.org/10.70992/a4pvvj74Keywords:
Strategi Industri Perbankan, Perubahan Pasar, Transformasi DigitalAbstract
The Indonesian banking industry is facing major challenges due to digital transformation and market changes. Banks must use creative strategies to remain competitive due to rapid digitalization, driven by advances in financial technology (fintech) and changes in customer behavior. Using a qualitative methodology, this study aims to analyze the strategies of the Indonesian banking industry in facing digital transformation and market changes. Data collection techniques used were through observation, interviews, and document analysis. The results of the study indicate that innovation in digital products and services, technological advances, collaboration with fintech, and optimization of data analysis for business decision-making processes are the main strategies implemented by the banking industry. In addition, compliance with regulations and cybersecurity elements are very important to achieve digital transformation. Furthermore, these findings show that banks in Indonesia are able to utilize digital technology to improve operational efficiency and expand market reach, despite facing challenges such as strict regulations and increasing competition. In addition to providing significant benefits to stakeholders in the banking industry, this study can be a reference for building more efficient strategies to face continuous market changes.
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