Release of Sharing Vision IT Business Outlook 2024: Transformation of Digital Service Usage

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Bandung, 28 March 2024  – Dr. Budi Sulistyo, S.T., M.T. (Senior Consultant, IT Security Expert from Sharing Vision), revealed the impact of the pandemic in 2021-2022 which has led to most activities such as schooling and meetings being conducted online. This phenomenon has significantly boosted the adoption of mobile banking services that provide features to meet daily needs, resulting in a faster and higher level of user adoption compared to other payment channels.

The presence of branch offices is becoming increasingly rare, as they are only necessary for urgent needs such as replacing ATM cards. However, further review is needed to determine whether this decline is due to a segmented market or user interfaces in need of improvement.

Online transactions are increasing due to the easy access to information, including reviews on commerce platforms and YouTube, which support online transactions. However, challenges related to service availability and correct functionality (availability problem) as well as transaction success (atomicity problem) are the focus of attention in optimizing user experience in conducting digital transactions.

The advancement of E-Lifestyle in terms of the digital aspect.

Following that, Fran Suwarman S., S.T., M.M., CIPMP, CDCP (Senior Consultant, IT Strategic & Governance Expert from Sharing Vision), discussed the digital transformation occurring in three main aspects: Digital Transactions, Digital Behavior, and Digital Opportunities.

It is known that internet activity has decreased, especially for users who were previously spending 8 hours a day online, as a result of the end of the COVID-19 pandemic.

Despite a decrease in internet usage duration, 50% of users reported an increase in their online activities, particularly in terms of using social media, streaming videos, and online shopping. This reflects a quick adaptation to changing digital trends amid a dynamic global environment.

Fran Suwarman also revealed the latest trends surrounding E-Channel and Digital Banking, where Mobile Banking has covered almost all banking activities, with rapid adoption but experiencing stagnation in 2023. The use of QRIS is making payments easier, while E-money is predicted to stagnate because most people already use it and the available features are considered less innovative.

Issues related to E-Channel services, such as ongoing downtimes and errors, continue to occur from year to year, demanding more attention to improve the quality of user experience and service availability. Regarding failed transactions, educating the public on handling problematic transactions is crucial.

The growth of digital bank accounts is not expected to be very high in 2022-2023, but attractive services could motivate customers to open digital accounts. The performance and availability of digital payment services should also be improved to meet user needs.

Online credit card registration is growing rapidly, while E-money remains stable with the majority used for food delivery, online transportation, e-commerce, and toll gate payments. The use of QR codes is becoming more widespread, especially in the cafe/restaurant, supermarket, and convenience store sectors.

The rapid growth of E-commerce transformation and Fintech lending is expected to increase significantly by 2024.

Nur Islami Javad, S.Si., MBA., ITIL (Chief Digital Startup, eCommerce & Fintech, Sharing Vision, VP Startup Bandung) stated that online shopping, including purchasing airplane tickets, has become increasingly widespread over the past six years.

Shopee has become the favorite marketplace with the highest market size, while the merger of Gojek and Tokopedia strengthens the dominance of the e-commerce market. Meanwhile, Fintech Lending has also experienced a 100% increase in usage, driven by the ease of fund disbursement and the urgent needs of users. Shopee Paylater and GoPaylater are the most popular fintech options, offering attractive promotions that appeal to consumers.

The adoption of Fintech Lending is continuously growing, possibly fueled by the consumerism of Indonesian society and strict banking regulations. The quick disbursement of funds and flexible tenors are the main attraction, with Shopee Paylater and GoPaylater being the top choices for users due to enticing promotions.

Fraud threats and cybersecurity issues in digital transactions

Dr. Budi Sulistyo, S.T., M.T. also highlights that bank accounts, e-money, and e-commerce are vulnerable to fraud. While information leaks on social media may not directly impact finances, they can become a gateway for identity theft, which can ultimately lead to financial losses, especially if social media data is linked to digital financial accounts. The potential theft of personal data is also a serious threat for misuse in digital lending.

A variety of fraud methods require users to be vigilant in order to avoid being deceived. The level of exposure to fraudulent actions is very high, although not all users end up becoming victims. The majority of respondents who have been victims of fraud reported financial losses ranging from Rp100,000 to Rp5 million.

Watch the recording of the Sharing Vision IT Business Outlook 2024 event on the following link:

You can download the full version PDF of the IT Business Outlook 2024 by clicking on the following link:


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