Development of the Business Model of a State-owned Bank to Support Financial Inclusion in Indonesia

Wicaksono Sarwo Edi, Marimin, Arief Daryanto, Imam Teguh Saptono


Banking business in Indonesia has proliferated, but the existing business model seems not responding to the need for financial inclusion development yet. State-owned banks which act as development agents require to provide more attention to develop useful business models for financial inclusion. The parties involved in the financial inclusion business are very diverse. The interests of each party are also complexly interrelated. We use interpretive structural modeling (ISM) and analytic network process (ANP) to parse the problems and develop a map of clear correlations between various complex elements so that they can be transformed into visible models. This method utilizes experts' knowledge and experience to understand complex problems and then build multilevel structures and determine the dominant factors of the system. There are many experts involved in research; who are consist of top-level practitioners from the bank, experts from the bank’s competitor, financial technology experts, expert from the regulator. The research covers five areas or elements, i.e. the element of requirements, constraints, objectives, possible changes, and actors. The resulting outputs are (1) driving power-dependence matrix sub-elements, (2) ISM structural model that describes the map of sub-elements level and how sub-elements influence each other (3) ANP prioritization by sub-element per cluster. From these three outputs, we get the primary keys of each element that plays the most significant role in developing the model. This study concludes that the primary keys in developing the business model for the bank are: shared vision and collaboration between units, IT support, expand to micro, development of new ideas, meeting customer needs-anticipating their pain-gain, convert fix to variable cost, eliminating silo mentality, and the roles Directors. And also forming new forming new division, when the bank decided to implement the business model.


analytical network process, complex problems, interpretive structural modeling, experts’ judgement

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