PT Bank Mandiri Tbk (BMRI) has completed 75% of its CAPEX in 2022 to develop its digitalization services and strengthen its cyber security, its CAPEX for this year reaches Rp2T for IT development.
BMRI is an Indonesian bank that is located in Jakarta, it is one of the biggest banks in Indonesia in assets, loans, and savings. The company was established in 1998 and operates in the field of commercial banking services. As part of the re-structurization effort in 1999, there are 4 banks that are merged to become Mandiri. The company has several subsidiaries such as Bank Mandiri (Europe) Ltd. (100%), and Mandiri International Remittance Sdn Bhd. (100%), PT Asuransi Jiwa InHealth Indonesia (80%), PT AXA Mandiri Financial Services (51%), PT Bank Mandiri Taspen (51.1%), PT Bank Syariah Indonesia Tbk (50.95%), PT Mandiri Capital Indonesia (99.99%), PT Mandiri Sekuritas 99.99%, PT Mandiri Tunas Finance (51%), PT Mandiri Utama Finance (51%). Currently, the company is led by Darmawan Junaidi as President and Director for the period of 2020-2025.
Continues digitalization effort
BMRI continues its development in digitalization services and the increase of cyber-security. As part of its CAPEX this year for IT in 2022 reaching Rp2T. In October, the CAPEX absorption is significant reaching 75% of the total CAPEX. For next year, BMRI hopes to increase the CAPEX amount or at least the same CAPEX as of now.
Timothy Utama, the Director of IT for Bank Mandiri said, the absorption of CAPEX 2022 this year reaches 75%. Its realization is focused on 4 initiatives such as Super Apps Living’, Super Platform Kopra, Smart Branch, operational management, and business reengineering process.
“In 2022 Livin’ super apps have launched Livin’ Investment, Livin’ Shuka features, branch services, to the latest features that allow customers to open accounts and enjoy all Livin’ features from abroad,” said Utama to Kontan on 8th November 2022.
During the development, BMRI releases new features for Kopra, such as Online Onboarding, Online Subsidiaries, and Custody. On the other hand, in connectivity BMRI implements 241 Smart Branch throughout Indonesia.
“Apart from the channel and distribution side, CAPEX absorption is also used for modernizing IT infrastructure and security and strengthening business processes and operations,” said Utama.
Meanwhile, Utama said BMRI will also initiate other sectors such as data analytics and also IT RASS (Reliability, Availability, Scalability, & Security); but for now, strengthening the infrastructure aspect and the strengthening of IT will be the main focus of increasing system capacity and also cyber-security.
Risk in cyber security
Indonesia is one of the countries that have weak cyber-security protection nationally.
According to National Cyber and Crypto Agency (BSSN), from January until August 2021 there are 190 million cyber-attacks in Indonesia or about 4 times the same period in 2019 with 39 million attacks.
While a survey made by Communication and Information System Security Research Center (CISSReC) said that even Bank Indonesia has a score of only 68, said Pratama Persadha, the Chairman of CISSReC on 14th June 2022. Compared to Bank Jago (ARTO) at 74, Maybank at 80, and Bank of America at 93.
Meanwhile, from the reports of the National Cyber Security Index (NCSI), Indonesia has a score for cyber-security of 38.96 points from 100 in 2022. This puts Indonesia at the bottom third of the G20 members.
On the other hand, according to Cloud Computing, Indonesia’s cyber-security is ranked 83 of 160 countries in 2022.
