Bank Bri Wins the Celent Model Bank Award for Digitizing Its Lending Process End-To-End With the Finacle Digital Banking Technology Stack

Bank BRI was recognized at the Celent Model Bank Awards program in the category ‘Financial Inclusion’. The bank pioneered digital lending in the country and set a new benchmark by shrinking the loan cycle from origination to disbursal to under two minutes. The bank collaborated with Infosys Finacle to construct a new, parallel technology stack, built around leading-edge technology, including AI, electronic Know Your Customer (eKYC), and APIs. As a result, the bank scored a number of country firsts, including first authorized digital lender, and authorized digital lending as a service provider.

Over view of the winning initiative: BRI built Pinang, Indonesia’s first fully digital lending product by leveraging the Finacle Core Banking Solution and Finacle Digital Engagement Hub. Targeted at the micro and ultra- micro segment, Pinang offered end-to-end and fully automated loan processing, including credit scoring by Privy, e-KYC and digital signature, all of which were completed in a couple of minutes from the time of initiation. Following the success of Pinang, BRI launched Ceria, an innovative, accessible digital credit card that appeals to Indonesian millennials. With the new digital offerings, BRI is leading the digital banking revolution in Indonesia by tapping into a latent demand for convenient and instant digital lending products.

Celent Model Bank is awarded for best practices of technology usage in different areas critical to success in banking. In its fourteenth year the annual program in 2021 was again incredibly competitive with nearly 160 nominations received from banking and financial services organizations from across the world.