PT. Bank Raya is partnering with BRI to use API for Dana Pensiun Lembaga Keuangan (DPLK) to support expanded access for Their Customers in Indonesia

As part of the BRI Group, PT. Bank Raya is one of the digital banks that helps to enhance financial inclusion in Indonesia. The bank prioritizes excellent service, with an innovative network and products designed to fulfil the needs of both individual and business customers.

With a vision to provide relevant products and services through an end-to-end digital approach, Bank Raya is committed to delivering intuitive, secure, and reliable banking solutions. They focus on developing their network of work units using a Hybrid Network and Distribution approach, creating efficient integration mechanisms between business and technology.

In contributing to national financial inclusion, Bank Raya continues offering efficient and reliable services, including the Dana Pensiun Lembaga Keuangan (DPLK) service managed in collaboration with PT Bank Rakyat Indonesia (BRI). Through the role of BRIAPI, Bank Raya could expand its financial product offerings and help customers better prepare for their financial future.
 

Opportunities and Challenges for Bank Raya in Leveraging BRI’s API in the Era of Open Finance

The growth of a digital lifestyle that relies on electronic channels for banking transactions presents a significant opportunity for Bank Raya to increase fee-based income through the collaboration of providing financial services. The rise of digital financial transactions in Indonesia and a lifestyle prioritising convenience and the speed of technology-based transactions further support this opportunity.
 

However, Bank Raya faces several threats from competition with non-bank entities such as startups and fintech companies that offer similar services, as well as large banks that have developed Open APIs and built digital financial ecosystems. BRI’s strong brand support could strengthen Bank Raya’s position in the competition for digital bank services in Indonesia. These challenges also open opportunities for Bank Raya to continue innovating and strengthening its existence in the digital market, leveraging BRI’s support, and expanding collaborations with other fintech partners to create more competitive and relevant banking services.
 

Simplified Pensionable Age Planning Solution with DPLK API for Bank Raya Customers

The DPLK API is an application programming interface from BRI that allows third-party companies, such as fintech or financial platforms, to access retirement savings accounts through BRIFINE DPLK, check account balances, and request claims automatically. This integration enables third-party companies to efficiently offer BRI's DPLK services to customers through their platforms, thereby simplifying the pensionable age investment process by connecting directly with BRI's banking system.

The DPLK API is highly relevant to Bank Raya's services, which also focus on digital financial solutions in Indonesia. As part of the BRI Group, Bank Raya could leverage the DPLK API to expand its services by allowing third-party companies or direct customers to access pensionable age products automatically via BRI's DPLK.

By integrating the DPLK API into its digital platform, Bank Raya could offer easier and more efficient services for opening pensionable age accounts, checking account balances, and requesting DPLK claims. This integration aligns with Bank Raya's mission to provide intuitive and secure banking solutions while strengthening its role in enhancing financial inclusion in Indonesia.
 

Conclusion

As part of the BRI Group, Bank Raya has significant potential to enhance financial inclusion in Indonesia through digital technology. Collaboration with BRI via the DPLK API could allow Bank Raya to offer efficient, automated, and integrated pensionable age planning services.

Despite facing several challenges from competition with non-bank and fintech companies in the competition for digital bank services, the support from BRI and collaborations with financial startups could strengthen Bank Raya's position in the era of Open Finance, enabling it to innovate and continuously provide relevant and competitive financial solutions.