JOSR: Journal of Social Research
Februari 2022, 1 (3), 221-230
p-ISSN: 2827-9832 e-ISSN: 2828-335x
Available online at http:// https://ijsr.internationaljournallabs.com/index.php/ijsr
http://ijsr.internationaljournallabs.com/index.php/ijsr
ANALYSIS OF COMPETITIVENESS FOR MARKET SHARE
EXPANSION OF PT BANK JAGO TBK
Hendri Khuan
1
Universal Institute of Professional Management
Email : hendri.khuan@gmail.com
Abstract
Received:
Revised :
Accepted:
March 2022
March 2022
March 2022
The Bank Jago is a commercial bank that should continue to
provide the services in global competitiveness. The Bank
Jago should continue to innovate and use the latest
technology to excel in competition in the industry. Bank Jago
collaborating with the e-commerce and lending ecosystem to
provide digital financial services in the middle and mass-
market segments that have not been fully served so far. The
research is suggested that Bank Jago should make
improvements to business processes identified as weaknesses
because they can obscure their strengths, and Bank Jago
should also evaluate the price of service solutions by
considering the value of their products and the dynamics of
market prices.
Keywords: Competitiveness, Quality, Education
*Correspondent Author : Hendri Khuan
Email : hendri.khuan@gmail.com
INTRODUCTION
Digital technology is now becoming a trend and a source of worry in the banking
and financial services industries. Mastery of technology is helpful to internal firms in order
to promote more productive and efficient corporate operations. Banks must capitalize on
developments in digital technology by providing innovative customer service (Fang &
Zhang, 2016).
Using the most recent technical advances, such as cloud-based platforms and
Blockchain, by financial technology and telecommunications firms in order to deliver
financial services that are more convenient and practical for the community. Technological
advancements undoubtedly increase competitiveness in the banking and financial services
industries. The emergence of start-up companies engaged in financial technology focuses
on developing technology for electronic payments and develops services carried out by
conventional banks such as distributing loan funds and credit for MSME entrepreneurs.
Hendri Khuan / JOSR: Journal of Social Research, 1(1), 1-10
Analysis Of Competitiveness For Market Share Expansion Of Pt Bank Jago Tbk
222
This Fintech dares to offer convenience, lower costs, and even higher investment returns
than incumbent banking services.
The traditional banking sector's competitiveness has morphed into a technology
battle between financial industry companies. Every sector, including banking, must speed
up the adoption of digital banking in order to compete in providing services that are simpler,
quicker, and more responsive to client requirements. Relevant regulators, including Bank
Indonesia and the Financial Services Authority, continue to push for the development of
digital banking. Electronic banking transactions are increasing year after year, according
to data from the Financial Services Authority (Probank, 2016).
The trend of bank services leading to digital banking is reflected in the expansion
of digital banking transactions, which are expected to continue. Several banks have already
developed better solutions for offering digital banking and retail payment services to
Indonesians. Companies that provide telecommunications and financial services are also
less competitive for providing ease of digital transactions. The table below summarizes the
digital financial services available in Indonesia.
Technological advancements undoubtedly create a new rivalry in the banking and
financial services industries. Banks and Fintech start-ups compete in digital banking,
followed by crowdfunding, peer-to-peer lending, and others. The emergence of start-up
companies engaged in financial technology focuses on developing technology for
electronic payments as well as developing services performed by traditional banks, such as
distributing loan funds and credit to MSME entrepreneurs. This Fintech takes the risk of
providing more convenience, cheaper prices, and even larger investment returns than
traditional banking services (Linggadjaya, Sitio, & Situmorang, 2022).
Rivalry among traditional banking sector competitors has given way to technology
competition among financial industry firms. Banks can no longer ignore the presence of
digital banking because of technological competition. Every business, including the
banking industry, must expedite the deployment of digital banking in order to compete and
deliver services that are easier and faster to meet the expectations of customers. The desire
to expand digital banking remains a priority for key regulators, including Bank Indonesia
and the Financial Services Authority.
According to Financial Services Authority data, electronic banking transactions are
increasing significantly year after year. The expansion of digital banking transactions,
which is expected to continue, is consistent with the trend of bank services leading to digital
banking. Banks' financial services include not just branchless banking but also retail
payment system services to assist with cashless transactions. Several banks already have
superior products in providing digital banking and retail payment services for the people
of Indonesia.
Telecommunication and Fintech provider companies are also less competitive in
providing convenience for digital transactions. In 2020, Bank Artos turned its name to PT
Bank Jago Tbk.
Later in the same year, Gojek became a shareholder through its financial services
and digital payment business, Gopay. In 2021, GIC Private Limited will commit to
injecting funds to strengthen Jago in innovating to provide the best digital financial
solutions. With a total capital of IDR 8 trillion, Jago is a bank with significant and robust
growth and innovation opportunities. In fact, with the pandemic era, this digital trend was
speeding up (Arner, Barberis, & Buckley, 2016).
The delivery of services becomes customer front-end or bank back-end operations.
Bank Jago responded it would provide banking services according to customer needs. The
reliability of the technology will affect the dependability of all existing services. There is a
first strategy, including three initiatives of Bank Jago in trying to transform into a digital
bank.
Bank Jago has a different perspective in offering its financial services. Skilled
innovators take advantage of Bank Jago, which is supported by adaptive, innovative, and
Hendri Khuan / JOSR: Journal of Social Research, 1(1), 1-10
Analysis Of Competitiveness For Market Share Expansion Of Pt Bank Jago Tbk
223
modern technology. Apart from that, Bank Jago also provides additional value in
comprehensive financial services, in collaboration with various reputable partners. In 2020,
Bank Jago experienced a transformative period.
In 2020, to become a technology-based bank, Bank Jago underwent a major
transformation in opening a comprehensive road. Bank Jago has made a strategic and
substantial investment in technology and infrastructure to start the journey of
transformational change under the mandate of the shareholders in 2020. The newly
transformed Bank Jago has 4 main strengths in making itself unique, successful in the
market, and unrivaled. Bank Jago reinvents “digital banking” into a “life-centered” banking
approach that uses digital technology in its business DNA.
Although Bank Jago increased lending to support Bank Jago, the need for investment is very
important in transforming the digital-based bank financed by other operations has increased
significantly. Because of this, Bank Jago booked and recorded comprehensive losses in 2020 (see
Fig. 1(a)). Bank Jago needs investment funds to increase the operating expenses used in the
transformation process. The investment funds will be used for aspects of information technology,
professional services, promotions, and human resources (Leu, 2005).
The transformation that is being carried out by Bank Jago has resulted in an increase in other
operating expenses. Bank Jago's transformation process requires large investment amounts from
various technologies of information, promotion, human resources, and also professional service
aspects. In addition, in 2020 Bank Jago recorded a net non-operational expense of Rupiahs. Bank
Jago must invest in large amounts after successfully increasing interest income, see Fig. 1(b) (Leu,
2005).
Given that the digital economy in Indonesia is growing rapidly, the exponential market
expansion will be carried out by digital banking service providers. Based on the description above
and considering the importance of competitive strategy in retail payments as a company's line of
business, this study intends to examine the Analysis of Competitiveness for Market Share Expansion
of PT Bank Jago Tbk.
The paper aims to plan a strategy to increase competitiveness for market share
expansion by PT Bank Jago, Tbk. by using strengths (S) and weaknesses (W) as internal
factors, and opportunities (O) and threats (T) as an external factor and conclude as SWOT
matrix, and conduct the key success factors analyzes.
METHODS
Qualitative research in library research was conducted by examining various data
from various references which were analyzed according to the existing problems. Search
journals and books online through various related journal repositories, both from main data
sources and supporting data sources, so that ideas can be found.
The source of the data used is secondary data that does not come from direct
observation, but from the results of research conducted by previous researchers. This data
is generated by looking for various references about the research subject, which is then
presented as a description (Tumanggor, Tarigan, & Ompusunggu, 2020). Data collection
methods are carried out in searching or digging up data from the literature related to the
existing problems. After the data is obtained, the data is collected so that it becomes a
document that can be used in answering the questions in this study.
HASIL DAN PEMBAHASAN
A. Research Object
Hendri Khuan / JOSR: Journal of Social Research, 1(1), 1-10
Analysis Of Competitiveness For Market Share Expansion Of Pt Bank Jago Tbk
224
The company run since 1992 in Bandung under PT Bank Artos Indonesia Tbk. In
2019, Artos Bank began to enter its new era after serving the community in a matter of 27
years for conventional banking products. This is marked because of the PT. The controlling
and shareholders were won by MEI and WTT which acquired 37.65% shares (WEI) and
13.35% shares (WTT). To carry out the big aspirations within the bank, in 2020 the name
was changed from PT Bank Artis Indonesia to PT Bank Jago. Bank Jago serves the needs
of the market segment era with technology-based banking in banking products and services
embedded in the ecosystem for Small and Medium Enterprises, Retail, and the mass
market. Currently, Bank Jago still has a physical office network: 1 Non-Operational Head
Office, 2 Branch Offices, 3 Sub-Branch Offices, 1 Cash Office, 1 Payment Point, and 5
ATMs. To access thousands of ATM accounts throughout Indonesia, Bank Jago is
connected to ATMs and ALTO. Bank Jago's brief history:
Established in South Jakarta, PT MEI has a deed of establishment No. 51 dated
March 14, 2014, as a shareholder and controlling share. MEI is in Jakarta and is a company
engaged in management consulting. In addition, WTT is a company founded in Hong Kong
and is engaged in investment, following Certificate of Incorporation dated March 28 2014
No. 2070088. WTT is domiciled in Hong Kong. Established in Jakarta, Non-Controlling
Shareholder of PT Dompet Karya Anak Bangsa with a deed of establishment dated
February 9, 2016 number 37 by partnering with other management consulting services.
With the following vision of the digital economy to become one of the strongest banks in
Indonesia (1) meets the middle and mass-market customer needs, (2) embedded in an
ecosystem, and (3) uses technology. It has a mission to increase the growth opportunities
of millions of people through digital financial solutions that focus on life.
B. Determine the Factors of the Competitiveness of PT Bank Jago Tbk
1. External Factor Analysis
In this study, the analysis of external factors was carried out at the macro and
industry levels. The macro-level analysis uses the PESTEL framework to identify macro-
influences on the banking business and its impact on Bank Jago. Meanwhile, the industry-
level analysis uses Porter's Five Forces framework to recognize the sources of rivalry in an
industry.
a. PESTEL Analysis
The macro-level analysis is carried out using the PESTEL framework, where the
researcher identifies 6 (six) factors related to the company in carrying out its activities,
namely politics, economy, social culture, technology, environment, and law (Islam, 2017).
1) Political Factor
The government, OJK, and BI affirm their commitment to continue to support the
development and contribution of the Fintech industry to strengthening the national digital
economy through regulations that can spur the birth of digital financial service innovations,
as well as being able to provide optimal protection to the community who use Fintech
services and their ecosystem.
The confirmation of the government’s commitment was conveyed by the Minister
of Finance of the Republic of Indonesia, Sri Mulyani Indrawati. Through accommodative
regulations, the government will continue to provide support. The government has also
invested in information and communication technology infrastructure development, one of
the primary priorities apart from health and education, to speed up fair internet network
access throughout Indonesia. The 2022 State Budget has allocated Rp25.4 trillion to
continue various ICT infrastructure development programs.
Based on the description above, it is concluded that political factors provide
opportunities for Digital Bank business because of government policies that support the
development of technological innovation progress in the banking sector.
Hendri Khuan / JOSR: Journal of Social Research, 1(1), 1-10
Analysis Of Competitiveness For Market Share Expansion Of Pt Bank Jago Tbk
225
2) Economic Factor
Post-Covid economic conditions have improved. This proves that, with the easing
of global panic and measures to handle the COVID-19 pandemic in Indonesia, the inflow
has increased. The position of Indonesia's foreign exchange reserves at the end of April
2020 was 127.9 billion US dollars, an increasing stack up to the position at the end of
March 2020 of 121.0 billion US dollars. Based on the description above, it is concluded
that economic factors provide opportunities for Digital Bank business because of the
improvement in post-covid-19 economic conditions.
During the challenges that arise from illegal industry players, the government
expressly appreciates the actual contribution of Fintech as a government partner in
supporting the success of various programs. Partnership programs with Fintech that have
received high appreciation include online retail SBN sales through Fintech distribution
partners.
It was stated that investors through Fintech media grew from 7.9% in ORI16 in
2019 to 11.9% in ORI17 in 2020.
3) Socio-Cultural Factors
Socio-cultural factors that affect providing network access are changes in people's
lifestyles in adapting to internet use both before and during the COVID-19 pandemic.
Changes in the lifestyle of people who have The tendency to work at home during the
COVID-19 pandemic have provided positive growth for the digital banking industry.
Indonesia is one country with the most significant potential for digital transactions,
USD124 billion, with a large population of resources. Based on the description above, it is
concluded that socio-cultural factors provide opportunities for Digital Bank business
because of lifestyle changes that lead to digital during and after COVID-19. Many potential
residents and millennials with digital literacy have made the development of Digital Banks
multiply in the last two years.
4) Technological Factor
In the 2020-2024 national banking roadmap, OJK stated that in accelerating digital
transformation, the government carried out:
1. Strengthen IT risk management and governance.
2. Encourage the use of IT game-changers (e.g. open API, cloud, blockchain, AI, Super
App, omnichannel).
3. Encouraging collaboration on technology
4. Encouraging the implementation of advanced digital banking
Based on the description above, it is concluded that the technology factor provides
opportunities for Digital Bank business because technology is developing very quickly, and
government support in accelerating technology that supports the digital banking ecosystem.
5) Environmental factor
Another environmental factor that affects the digital banking business is the
geographical condition of Indonesia. The geographical condition of Indonesia, which
consists of many islands and is located in the ring of the fire zone, poses challenges in
infrastructure development for network access providers because it requires quite an
enormous cost. So that not all regions have a good internet network, even though the
internet network is the backbone of the sustainability of digital banks. The threat presented
is the high cost of building network access service production equipment due to Indonesia’s
Hendri Khuan / JOSR: Journal of Social Research, 1(1), 1-10
Analysis Of Competitiveness For Market Share Expansion Of Pt Bank Jago Tbk
226
geographical conditions, so that not all regions have an internet network which is the
backbone of the digital banking business.
6) Legal Factor
The OJK has just issued a regulation that has become the legal umbrella for digital
banking. The era of digital banking is part of the industrial revolution 4.0 and 5.0, the rules
that the OJK has just issued are the Financial Services Authority Regulation (POJK)
Number 12/POJK.03/2021 regarding to Commercial Banks.
Furthermore, to complement the provisions of digital banks, OJK successively
issued POJK Number 13/POJK.03/2021 regarding the Implementation of Commercial
Bank Products and POJK Number 14/POJK.03/2021 Amendment to POJK Number
34/POJK.03/2018 concerning Assessment Back to the Main Party of Financial Services
Institutions. There are at least six legal and regulatory challenges for the operation of digital
banks:
1. Innovative and secure banking business model, this issue is so far where digital banking
can be implemented by improving services to customers, but without compromising the
security of customer transactions, the notion of transaction security refers to the absence
of losses to customers due to the implementation of digital banking.
2. Prudent and sustainable digital banking business model. The phrase 'prudent' in digital
banking is regulated in Article 24 letter (b) of POJK Number 12/POJK.03/2021, which
is a derivative of Article 2 of the Banking Law, which stipulates that Indonesian banks
conduct their business on the basis of economic democracy by using prudential
principles.
3. The third legal challenge is, as required in Article 24 letter (c) of POJK Number
12/POJK.03/2021, that digital banking implementation must have adequate risk
management. The definition of risk management refers to the assessment process and
the feasibility of transactions both related to transactions with depositors and financing
customers.
4. The fourth legal challenge is as described in Article 24 letter (d) of POJK Number
12/POJK.03/2021, which is related to governance and requirements for information
technology capabilities for directors of digital banking.
5. The fifth legal challenge is, as described in Article 24 letter (e) of POJK Number
12/POJK.03/2021, digital banks' operations must protect customer data security. Data
security is a significant challenge for the digital industry today, considering there are
still many misuses of banking customer data.
6. Finally, as described in Article 24 letter (f) of POJK Number 12/POJK.03/2021, digital
banking implementation must provide contributive efforts to developing a digital
financial ecosystem. Financial inclusion related to these provisions it is necessary to
make regulations that support each other between the implementation of digital banking
and other supporting ecosystems, such as the use of digital money and the integration
of the use of digital banks to trade practices/real sectors and e-commerce to achieve a
cashless society and a cardless society. Based on the explanation above, it can be shown
that legal factors threaten the digital bank business.
b. Porter’s Five Forces Analysis
In the industry-level analysis carried out using Porter's Five Forces framework
where researchers identify five fundamental competitive forces that affect the industry,
namely the strength of the threat of new entrants, the intensity of company competition in
the industry, the threat of substitute products, the bargaining power of buyers, and the
competitive power of the company. Bargain supplier.
1) The Power of the Threat of New Entrants
The widespread adoption of digital wallets, driven by the presence of various start-
up companies, to the expanding reach of financial technology services in forming a new
financial ecosystem is another reason why digital banks are increasingly becoming a dream.
Hendri Khuan / JOSR: Journal of Social Research, 1(1), 1-10
Analysis Of Competitiveness For Market Share Expansion Of Pt Bank Jago Tbk
227
Not only that, at the end of October, OJK took the step that the public had been waiting for
by launching a blueprint for digital banking transformation to accelerate digital
transformation in the national banking industry. Prospects supported by the regulatory
framework and policies implemented by the government as well as the enthusiasm of
investors make Indonesian technology companies interested in owning a mini bank which
will later be transformed into a digital bank.
2) The intensity of Company Competition in Industry
The number of digital banks that have emerged has created a new competitive map
in the digital banking industry. The development of digital banks has become attractive in
the current era of disruption. Many parties are watching the prospect of a promising digital
bank.
Based on the description above, it can be stated that the strength of the intensity of
company competition in the industry in this segment has a substantial value because the
competition in the digital banking business is very tight—the number of service providers
and the existing facilities as well as the low switching costs of customers.
3) The Threat of Substitute Products
Digital banks have advantages when compared to conventional banks. The reason
is because digital banks can reach a wider target through the use of information technology
tools. This advantage is an opportunity for digital banks to obtain funding and potential
income from the side of fast fee-based income as a source of profitability. Digital banks
have the advantage of reaching more customers by relying on IT infrastructure.
However, even though most people have adopted digital technology, national
digital literacy is still not evenly distributed. This is the background for BRI to form a
hybrid bank, which combines physical and digital services. Digital has not been able to
replace cash needs directly.
According to the description above, it showed that the threat of substitute products
in this segment has a substantial value because there are still many Indonesians who are
not fully ready for non-cash transactions and digitization, so it takes time to become a
cashless society.
4) Buyer Bargaining Power
The number of digital banks that have emerged, as well as digital consumers who
are still centered in big cities due to the unequal distribution of a good internet network,
make the consumer's negotiating position relatively advantageous due to the many
alternative digital bank service providers and the low switching costs when switching
services between digital banks.
Based on the description above, it can be concluded that the threat from the
bargaining power of buyers has a substantial value because of the many alternative service
providers and low switching costs, which make it easy for customers to switch services
between digital bank services providers.
c. Key Success Factor
In this study, critical success factors were identified from the literature. The
following are the critical success factors identified in the digital banking business, namely:
1) Banks with Different Perspectives
For individual customers, Bank Jago makes financial planning and management
simple, innovative, and collaborative so they can be closer to family and friends. Bank Jago
also makes financial management of entrepreneurial customers easier to support their focus
on growing their business.
2) Qualified and Up-to-Date Technology
Bank Jago needs to be a robust technology-based bank to support the delivery of
its unique value proposition. Bank Jago utilizes advanced technology, consists of solid data
analytics and AI, and generally carries out technology companies' work ethic and patterns.
That is why Bank Jago innovates quickly and integrates into the digital ecosystem. This
Hendri Khuan / JOSR: Journal of Social Research, 1(1), 1-10
Analysis Of Competitiveness For Market Share Expansion Of Pt Bank Jago Tbk
228
makes Bank Jago operate at an efficient scale while ensuring the security of Bank Jago's
customer data and money.
3) Partnership with Ecosystem as Strength
Bank Jago is present in the digital ecosystem of Indonesia. Bank Jago assists
customers to live a more leisurely life where financial services are combined with lifestyle;
banking services can be accessed through applications that they often use anytime and
anywhere. Thus, the customer acquisition process for Bank Jago to achieve business scale
becomes faster and more efficient.
4) Talent and Work Culture at Bank Jago
Bank Jago combines competence and experience with an open mind. Bank Jago's
work culture combines ginger and recency like a technology company with the Bank's
compliance and risk management. Thus, Bank Jago continues to broaden its horizons
through cross-functional internal collaboration and all of Bank Jago's strategic partners.
2. Internal Analysis
Internal factor analysis is carried out to identify critical strengths and weaknesses
that help companies capture opportunities and survive existing threats (Hunger and
Wheelen, 2013).
a. VRIO Analysis
In the VRIO analysis, identification of Bank Jago's competitive strength in the
Digital Bank business is carried out based on the resources of the company and capabilities.
According to the results of the VRIO analysis of the resources and capabilities of Bank
Jago, it was found that the digital banking business has become a sustainable competitive
advantage and strengths, namely:
1) Free monthly admin fee
The first advantage of Bank Jago is that it is free of monthly admin fees. This means
that saving at Bank Jago will not be subject to a monthly administration fee of IDR 7,000–
15,000 per month, as is charged by conventional banks. Several digital banks rivaling Jago
also do not charge their customers a monthly administration fee, such as Bank Neo
Commerce and TWRW by UOB. However, Jenius they have charged an admin fee of IDR
10,000 per month since January 2021.
2) Free bank transfer
The following advantages of Bank Jago are free interbank transfers. Customers can
make bank transfers for free with a Jago account if it does not exceed the maximum quota
of 25 different monthly transfers. After that, if customers are still making inter-bank
transfers, a fee of IDR 3,000 per transfer will be charged.
3) Personalize the Good Look
Customers can change the appearance of the application's home menu as desired.
Through this "Personalization" feature, you can eliminate menus that are rarely used on the
home page and then replace them with specific menus often used. That way, it will be easier
to use the Jago application daily.
4) Can have multiple Visa debit cards and Pockets of Jago
At Jago, accounts are referred to as "Pockets". Each user can have a maximum of
40 different Smart Pockets (20 Savings Pockets and 20 Paying Pockets) for various
purposes.
5) Can be used for foreign transactions and Paypal account verification
The Jago debit card can not only be used for domestic transactions such as
interbank transfers, bill payments, and e-wallet top-ups but also various foreign
transactions. For example, to pay bills for Netflix subscriptions, Spotify, buy goods on
Amazon, so customers can also verify Paypal accounts.
6) Can make transaction plans, so customers do not forget to pay essential
bills
Hendri Khuan / JOSR: Journal of Social Research, 1(1), 1-10
Analysis Of Competitiveness For Market Share Expansion Of Pt Bank Jago Tbk
229
The next advantage of Bank Jago lies in the Plan Ahead feature. This feature makes
it possible to schedule payments easily, so customers do not forget to pay essential bills
immediately, such as electricity bills, home/vehicle installments, WIFI bills, etc.
7) Flexible Investment in Locked Pockets
For customers who want to invest flexibly in Bank Jago, they can use the "Locked
Pockets" feature. This feature is part of the "Saving Pockets", allowing customers to open
a Jago savings account with an interest rate of 4% per year, which cannot be withdrawn
before maturity.
8) Can connect to the Bibit account directly via the Jago application
The latest update of the Jago application makes it possible to link the Jago account
with the Bibit account. So that customers can see the portfolio and total balance of Bibit's
mutual funds directly in the Jago application.
9) Easily analyze expenses
Customers who want to check their spending history at Jago can use the Spend
Analysis feature. This feature is intuitively designed to make it easier for users to view the
history of their monthly expenses, which are divided by category.
The weaknesses that Bank Jago has in the digital banking business are:
1) There are not many ATMs available yet
One of the weaknesses of Jago is that there are not many ATMs available. Even
though it provides relief with free admin fees of up to 5x if customers withdraw cash
through ATMs of other banks, the rest will still be charged.
2) There is no nearest branch yet
Until now, there are not many Bank Jago branches. When there is a problem, it
must be via email.
3) Verification process is quite long.
Making savings Jago has the advantage of being online without leaving the house.
Nevertheless, customers need to be more patient in the verification process because it takes
time.
4) Credit Card Not Available
Credit cards are one transaction tools that make it easier for customers to shop.
However, this credit card is not yet available at Jago. So, customers have not been able to
enjoy the services of a credit card.
5) Does not support the QRIS code to support smooth payments.
6) Has not provided loans to customers. Even though its competitors
Digibank and Jenius have served online loan applications with competitive interest.
7) Not yet connected to major marketplaces, such as Lazada, Shopee,
Tokopedia, etc.
CONCLUSION
According to the results of research that has been done at PT. Bank Jago, Tbk to
identify alternative strategies in the digital banking business. Market share segmentation of
middle income and mass-market serving MSME and retail customers. Implementation of
various risk management and Anti-Fraud tools and improving documents and governance
policies following applicable laws and regulations and best practices in the industry.
BIBLIOGRAFI
Arner, Douglas W., Barberis, Janos, & Buckley, Ross P. (2016). 150 years of Fintech: An
evolutionary analysis. Jassa, (3), 22–29.
Fang, Bin, & Zhang, Peng. (2016). Big data in finance. In Big data concepts, theories, and
applications (pp. 391–412). Springer.
Hendri Khuan / JOSR: Journal of Social Research, 1(1), 1-10
Analysis Of Competitiveness For Market Share Expansion Of Pt Bank Jago Tbk
230
Islam, Md Aminul. (2017). SWOT Mix and PESTEL Analysis: Effective Tools of Risk
Management of Leasing Companies. The Millennium University Journal, 2(1), 1–18.
Leu, Elizabeth. (2005). The Role of Teachers, Schools, and Communities in Quality
Education: A Review of the Literature. Academy for Educational Development.
Linggadjaya, Restiana Ie Tjoe, Sitio, Bontor, & Situmorang, Patar. (2022). Transformasi
Digital Pt Bank Jago Tbk dari Bank Konvensional menjadi Bank Digital.
International Journal of Digital Entrepreneurship and Business, 3(1), 9–22.
Probank. (2016). Probank Year XXXIII.
Tumanggor, Bagudek, Tarigan, Vitryani, & Ompusunggu, V. M. (2020). The Factors
Affecting Consumers Pay with Go-Pay on Go-Jek. Budapest International Research
and Critics Institute-Journal (BIRCI-Journal) Vol, 3(3), 1704–1717.
© 2021 by the authors. Submitted for possible open access publication under the
terms and conditions of the Creative Commons Attribution (CC BY SA)
license (https://creativecommons.org/licenses/by-sa/4.0/).
