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Krom Bank Emphasizes Selective Investment In Technology, Here Are The Reasons
Wednesday, 04 Dec 2024
In light of the growing significance of technology utilization within the banking industry, PT Krom Bank Indonesia Tbk (Krom Bank) emphasizes a cautious approach to technology investments. This selective strategy is designed to ensure that their investments genuinely enhance operational efficiency and add value to the organization.
This perspective was articulated by Krom Bank's President Director, Anton Hermawan, who indicated that the company allocates funds exclusively to technologies deemed as the most effective platforms.
"We will not make extravagant investments in a new platform. However, we will strive to invest optimally in the best platforms available," Anton stated on Tuesday, December 3, 2024.
Focus on Human Resources and AI Technology
A key area of Krom Bank's technology investment is human resources, which accounts for 60-70 percent of total operational costs. The bank is also in the process of developing its own banking application to enhance customer service.
Furthermore, the company has embraced artificial intelligence (AI) technology for various activities, including the credit scoring process. However, Anton acknowledges that the implementation of AI at Krom Bank is more specialized compared to its use in the broader market.
"In fact, we have already applied this new type of technology, such as generative AI. However, its usage is not as widespread as what you observe in the market," Anton stated.
Customer Security as a Priority
Anton emphasized that one of the primary objectives of investing in technology is to ensure the security of customers. Krom Bank has a dedicated division responsible for enhancing the security of customer data and transactions. Additionally, educating banking staff is a particular focus for Krom Bank, especially given the numerous security breaches that have occurred due to internal negligence.
"All our staff are aware of what they should and should not do with their devices, the appropriate access points, and the access that must be restricted," Anton concluded.
