Multi-finance digitization has become a necessity to accelerate the digital transformation process. Digital adaptation to the multi-finance industry will change the financing process, which has tended to be complicated and still conventional, to become easier and simpler.
Technology-based financing services will provide a new and unique customer experience in the form of speed, convenience, flexibility and quality. The Financial Services Authority (OJK) revealed that this year there will be more and more multi-finance companies that are creative and transform into various digital ecosystems.
So, what are the opportunities and challenges faced by the multi-finance industry in the midst of business digitalization efforts? Check more in the following article.
Challenges in the Multifinance Digitalization Adaptation Process
It is undeniable that multifinance digitalization efforts will open up many new opportunities. However, that does not mean that this effort is free from challenges in various aspects. Quoting Kontan, here are six challenges that must be faced by the multi-finance industry in the midst of business digitalization efforts.
Employee Mobility
Especially related to credit collection which still requires conventional efforts, namely by holding face-to-face meetings with debtors.
Decrease in Receivable Growth
The Association of Indonesian Financing Companies (APPI) revealed that the decline in receivables growth was the result of the multifinance business contraction during the pandemic.
Restructuring Request
Restrictions on mobility during the pandemic over the past two years have increased requests for restructuring. As a result, the restructuring period was extended so that the non-performing loan ratio (NPF) also rose.
Extra Costs during a Pandemic
The company bears the burden of extra costs for treatment, vaccination and employee swabs, which so far have not been included in the regular budget.
Decrease in Transactions Through Multifinance
There was a decrease in people’s purchasing power, which resulted in a decrease in multifinance financing transactions.
Limited Bank Funding Needs
Banks now prefer to distribute loans to large multi-finance players owned by distributors and dealers rather than small players.
Read more : Ini Peluang dan Tantangan Digitalisasi Industri Perbankan di Era Endemi
Digital Financing Transformation in Indonesia
Multi-finance digitization certainly provides a series of conveniences for consumers and employees. Reported by Digidata, here are some digital transformations in the multi-finance realm.
Submission of Credit Without Face to Face
The face-to-face credit application process is quite complex because the process is quite long. Adaptation of digital technology makes the process of applying for credit can be done directly without meeting face to face.
Digital Signature
It is common for financing processes to require wet signatures which results in the use of paper, pens and other equipment which makes the work of salespeople and surveyors inefficient. The need for supporting equipment can be cut by simply bringing one company mobile device for digital signature needs.
Paylater Scheme
The trend of the presence of e-commerce has also changed people’s habits to become more consumptive because of the ease of transactions, one of which is the presence of a paylater scheme. This is an opportunity for the multi-finance industry to issue a similar scheme for submission and approval of financing loans.
Multifinance Digitalization Support Solutions in Indonesia
To support the digitization process of the multi-finance industry in Indonesia, Helios Informatics Indonesia (HIN) presents solutions that can improve customer experience and business readiness. Helios as a digital solution provider is here to help digitize multi-finance through the following series of solutions.
Nutanix Enterprise Cloud
The cloud is the right solution for the need for a face-to-face credit application process, of course it requires a fast and safe application to provide comfort and guarantee user data security. Multi-finance companies are not enough to have only one cloud solution, but it is too complex to maintain various types of clouds.
Nutanix Enterprise Cloud will provide an integrated solution in the form of a single control point to manage private cloud, public cloud and hybrid cloud infrastructure and applications. Nutanix solutions ensure a consistent, high-performance and seamless experience for employees and users of multifinance services.
Helios Mobility Suite
Sales dan surveyor pada industri multifinance membutuhkan perangkat korporat yang optimal. Helios Mobility Suite memastikan perangkat yang digunakan oleh pekerja lapangan dapat dipantau dengan baik melalui berbagai fitur unggulan berikut.
a. Real-time GPS
This feature helps companies monitor and analyze the movement and implementation of work assignments in the field efficiently and in real time which are managed in one dashboard. Companies can also check employee travel history for the past 30 days.
b. Application Management
With this feature, companies can manage and control what applications are on employee devices, companies can also update and push applications without the user’s knowledge. In addition, HMS can also block OS updates so that company applications can still be used without the need to follow changes in OS updates.
c. Security & controls
This feature helps protect data on the device against data leakage by disabling Bluetooth, blocking access to 3rd party apps, disabling the camera & screenshots, and forcing a password on the device used. Even if the device is lost or stolen, the remote wipe feature gives companies the flexibility to delete data remotely through the HMS dashboard so that company data remains safe and the device is locked so that it cannot be used with the force lockdown feature.
Grab for Business
Field workers can use the Grab for Business service to make visits to various potential customers. Travel reports can be obtained through the Grab for Business portal dashboard in real-time so that sales and surveyors no longer need to submit claims.
This method makes travel expenses transparent to help companies manage their transportation budget. Not only that, the company can also track the team’s journey in the field through the same dashboard.
Read more : Grab for Business dan Helios Hadirkan Kemudahan untuk Segala Urusan Bisnis Anda
Helios as an IT Solution Provider for the Multifinance Industry in Indonesia
It’s time to carry out a digital transformation for the multi-finance industry with comprehensive solutions through Nutanix, HMS and Grab for Business services at Helios. Helios as an authorized advanced partner will assist multi-finance companies starting from the consulting, deployment, maintenance, to after-sales support stages.
Professional, experienced and Helios certified Helios IT team will help you avoid trial and error. Find out how Helios helps digitize your multifinance business by contacting us via [email protected].
Penulis: Ervina Anggraini
Content Writer CTI Group
