Heaptalk, Jakarta — PT Bank CIMB Niaga Tbk announced has upgraded its custodian system with the latest advanced features and technology to improve customer experience in carrying out business activities.
According to the Director of Business Banking CIMB Niaga, Rusly Johannes, Custodian transformation is a banking company priority that is aligned with the development of the capital markets with high public interest in investing. Also, the Indonesian Central Securities Depository (KSEI) disclosed that the number of investors in the capital market increased, reaching 11.73 in September 2023. The output enhances by 11.6% compared to the previous year.
“To capture growth opportunities by escalating services for existing customers, we continue to innovate to provide the latest custodian services, specifically in its technology systems, infrastructure, products, and service processes. For this reason, we expect to be a proper partner for our existing customers in developing their business and investment,” Rusly added during the launch of new Custodian Solutions, Jakarta. (10/25)
In this upgraded system, the banking company has transformed several technologies, including a Rapid Securities Services Newsflash as the communication feature devoted to customers gaining information about capital market progress. Meanwhile, from the infrastructure side, this system also unlocks tremendous access to global securities and funds. This access covers a hybrid offshore fund connected directly with the Clearstream and Vestima platforms through the Securities Services Hub of CIMB Bhd.
Apart from this innovation, CIMB Niaga also continues to recruit excellent human resources and provide comprehensive training to adapt the services that have been developed, which is expected to increase customer and stakeholder trust in the CIMB Niaga Custodian Bank.
This system transformation is also expected to significantly impact the company’s customers in diverse sectors, such as mutual funds, pension funds, insurance, foreign/local institutions, government, wealth management, public sectors, provident funds, and hajj funds.
Along with the exponential increase in the number of capital market investors, this banking company has a robust optimism that this measure will influence the growth of the custodian business. The Securities Services Head of CIMB Niaga, Kha Siung, claimed that the company custodian bank is in the fifth position as the most significant Asset Under Management (AUM) performance.
The banking company recorded that its total managed funds reached Rp240 trillion as of September 2023, growing 13% compared to last year. Through this custodian service improvement, the company aims to elevate its AUM to 20% this year.
