In the midst of rapid digital transformation in the banking sector, one of the innovations that has received attention is open banking. Open banking or currently also known as open finance has been massively utilized by various developed countries.

As in the United Kingdom, for example, as the world's leading open banking country, it now has more than 230 service providers and 6 million open banking users, which are dominated by consumer businesses and micro businesses. As a result, the UK has succeeded in increasing access to banking services, making it easier for people to obtain and improve credit scoring, and improving the experience of financial services (customer experience).

On the other hand in Indonesia, out of a total population of 181 million, 51% of the population does not have access to banking (unbanked) for various reasons. One of them is the difficulty of accessing the nearest branch office to get banking services.

Therefore, one of the benefits of open banking is bringing various banking services closer to digital applications used by the public. In this way, banks "democratize" their financial services so that they can be integrated by third parties from various service providers through the Application Programming Interface (API). This is where the benefits of API or open banking have an important role to increase public financial inclusion.

Before we look further into the benefits of using open banking in various industrial domains, let's first study the meaning of the concept of open banking.

What is open banking? As the name implies, the notion of open banking is a system that allows banks to be open, so that customer data can be exchanged safely between banks, financial institutions and third parties from various businesses and digital applications. Of course, data is exchanged safely and with the approval of the customer.

One main keyword that can conclude the benefits of open banking is integration, where banking service providers, customers and third party partners can easily connect, and banking services such as BRI's can be made available in various digital services owned by non-BRI.

Even so, the banking sector emphasizes the security standards that have been set and with the companies that work together, strive for the security of consumer data or users of these services. So that customers do not experience any uncomfortable things related to cyber crime.

How is Indonesian Open Banking Implemented?

In Indonesia, banks and companies are currently cooperating with each other in order to provide mutual benefits. In almost every line of business, we can see how companies have integrated with open banking services. From this point of view, open banking also complements the product ecosystem.

From the government side, Bank Indonesia is also very supportive of the incessant implementation of this banking system. This open banking is also one of the main parts of the 2025 Indonesian Payment System launched by Bank Indonesia. Since August 2021, Bank Indonesia has established the Payment Open API National Standard (SNAP) as a benchmark for compliance and standards for implementing open banking. Open banking has now been implemented by several banks in Indonesia and refers to these standards.


Also read: BRI Guarantees Open Banking Security with BRIAPI


Benefits of Implementing Open Banking for Industry

The benefits of open banking are huge for the industry. Here are some of them.

1. Convenience for Transactions in the Retail Industry

Open banking makes it very easy to carry out various types of transactions. Consumers can now switch from conventional payment methods to digital payment processes. Especially in the retail industry, customer payments are made easy. Through BRIAPI, Bank BRI has been integrated with various retail platforms, one of which is Indogrosir. This online wholesale center implements BRIVA.

2. Easy Accessibility for the Healthcare Industry

Open banking transactions via cellphone

In the past, transactions for various things were not as easy as they are now. People who live in small towns have difficulty accessing certain goods and services. But with the existence of open banking, the barrier is no longer there.

This ease of accessibility in the healthcare industry, for example, is K24Klik, which has successfully increased transactions by up to 200 percent. One of them is because it is more accessible, because the payment system has been integrated with BRIAPI. Consumers can more easily get the medicine they need.

3. Automation and Cost Savings in the Telecommunication Industry

This open banking can help the automation process to make all transaction activities run easily without the need for special monitoring. It can also make the company able to make cost savings. All transaction systems that were previously complicated and often an additional operational cost for companies can now be cut. In the telecommunications industry, for example, there is Fiberconnect which has been integrated with BRIAPI.

4. Increased Sales in the Commerce Industry

The level of sales or service users from e-commerce and marketplaces is increasing because of the ease of payment after integration with BRIAPI. For example, Shopee is integrated with the following BRIAPI products: BRIVA, Transfers to other Banks, to BRIZZI. This has succeeded in expediting the company's cash flow at Shopee.

5. Increasing Interest in Transactions in the Fintech Industry

Public interest in transactions has also increased. All the ease of access and diversity of payment methods is an added value for companies entering the open banking ecosystem. Through smartphones, people can try various features from fintech. BRIAPI has been integrated with DOKU and enriched DOKU's features.

6. Opportunities for Greater Collaboration in the Education Industry

Through this open banking system, various parties can now work together easily without any obstacles. This is a way to carry out complementary innovations. In the education industry, through BRIAPI, opportunities for collaboration at Sanata Dharma University are getting bigger because it can be connected with various other services related to transactions. It is important for open banking services such as BRIAPI to be adopted by the education sector, to keep up with changes in people's transaction habits, so as to expedite the teaching and learning administration process.

7. Improving Customer Experience Logistics Chain

Open banking provides a better customer experience. BRIAPI itself has been integrated with Dunex from the logistics chain industry and improves the user experience when making payments.

8. Developing Digital Ecosystems

Open banking connects banks with various industries so that bank services can support the development of digital ecosystems. One example is how BRIAPI is used for the development of various BRI digital ecosystems, such as the BRI Healthcare Ecosystem.

In this ecosystem, BRI integrates financial services to support the hospital management information system which makes it a holistic service that makes health services easier to access to anyone, anywhere.

9. Encouraging corporate innovation, including in government

Enterprise innovation plan

All the conveniences and advantages of innovation are beneficial for business actors to attract consumers and increase the customer base. Innovation also occurs in government institutions. For example, in the Regional Finance Agency (BKD). BRIAPI also provides online payment access for BKD.

10. Forming a new business model

The birth of open banking such as BRIAPI allows businesses to be able to create new customer journeys for their users, or even create business models that can become new sources of income.

For example, the emergence of various payment gateway system providers such as Xendit which acts as an aggregator of various payment services. Open banking allows service developers to easily explore more ways to provide satisfaction and attract the interest of the wider community, so that the competition ecosystem is getting tougher.


With the various benefits of open banking, it is sure to have a sustainable positive impact. Currently, BRI continues to collaborate with various parties in implementing BRIAPI. So, both companies, institutions, and consumers can get a user experience that satisfies one another.

Interested in knowing more about BRIAPI? You can visit our official website here for more information.