Heaptalk, Jakarta — Kredivo’s digital bank platform, Krom Bank, partners with Amazon Web Services (AWS) to enhance the quality of its digital banking services in Indonesia.
The Country Leader of AWS Indonesia, Anthony Amni, voiced, “The financial services industry in Indonesia is evolving to serve a growing population of new, previously underbanked users with cloud technology, which lies at the heart of any digital transformation program. Removing the complexity from banking is critical for mobile app users in Indonesia, and the bank achieves this with the agility, security, and availability of the cloud.”
In transforming digitalization in the banking industry, Krom Bank has adopted multiple technologies of AWS, covering:
- Amazon Aurora
Krom Bank utilizes Amazon Aurora, a high-performance, reliable database service, to manage its rapidly growing customer base. Aurora ensures that the bank’s applications remain accessible and perform efficiently, even as the number of users grows, providing seamless service for Krom Bank’s digital banking platform.
- Amazon Elastic Container Service (ECS)
This technology amplifies Krom Bank’s mobile app, enabling the deployment of new features, such as electronic Know Your Customer (e-KYC) verification. This service allows customers to open bank accounts up to 20 times more quickly through the app than in-branch visits, drastically improving the customer experience.
- Amazon Rekognition
Krom Bank uses Amazon Rekognition, which analyzes images and videos to enable facial recognition. Customers can log into their accounts using a selfie, and the technology also facilitates secure document submission, allowing customers to open accounts in under 3 minutes from anywhere with a mobile signal.
- Amazon SageMaker
Krom Bank leverages Amazon SageMaker to establish, train, and deploy artificial intelligence (AI) models. These models help enhance the customer experience by analyzing user behavior, improving security by detecting unusual transactions, and providing personalized services.
- Amazon Bedrock
Krom Bank plans to further explore AWS’s generative AI capabilities through Amazon Bedrock, which simplifies the development and scaling of AI applications. This will enable the bank to introduce innovations like chatbots and virtual assistants, further enhancing customer interaction and support.
- AWS Asia Pacific (Jakarta) Region
Krom Bank is the first bank in Indonesia to utilize the AWS Asia Pacific (Jakarta) Region. This ensures customer data is stored within Indonesia to comply with local regulations. This local data storage capability also enhances service speed and reliability for Indonesian users.
- Mambu Platform
Krom Bank also employs Mambu, a cloud-based banking platform powered by AWS. As Indonesia’s first digital bank to use Mambu in the cloud, this system supports Krom Bank’s lending products. It provides a flexible, scalable, and secure infrastructure for current and future growth.
“Cloud technology bolsters us to create more secure financial services devoted to the rising Indonesian generation. Krom Bank benefits from using the AWS Asia Pacific (Jakarta) Region, allowing us to comply with local regulations while providing fast user service. We look forward to continuing to grow with AWS,” President Director of Krom Bank Anton Hermawan said. (09/06)
Bank Krom recorded a fantastic performance by posting a net profit of US$4.2 million, approximately Rp65.14 billion, elevating about 11.77% YoY, compared to the previous US$3.7 million, around Rp58.28 billion last year. Also, Krom Bank’s third-party funds (DPK) collection as of June 2024 skyrocketed by 582.35% to Rp1.46 trillion, compared to Rp214.83 billion in 2023. As of June 2024, Krom Bank’s loan disbursement reached Rp2.69 trillion. This output marked a significant increase of 113.07% compared to last year’s figure of Rp1.26 trillion.
