Yoma Bank aims to revolutionise banking in Myanmar whilst promoting responsible lending, taps Experian decisioning-solutions

Yoma Bank aims to revolutionise banking in Myanmar whilst promoting responsible lending, taps Experian decisioning-solutions
  • Looks to transform mass market access to unsecured loans through their Smart Credit solution, putting customers in control of their own credit decision-making
  • Loan applications are processed by the Experian’s Digital Onboarding platform, with approval decisions made through the Experian Decisioning engine
  • The onboarding journey is integrated within Yoma Bank’s mobile banking app to provide a seamless customer experienc

JAKARTA, 09 August 2019Yoma Bank, one of the largest private banks in Myanmar, together with Experian, the world leader in information services, has revolutionised and made unsecured lending more accessible in Myanmar with the enhancement of its Smart Credit solution. Smart Credit is the first product of its kind in Myanmar to offer unsecured loans to mass market customers and will help provide greater financial access to the country’s unbanked population.

 

With close to 54 million in population and the number of Myanmar citizens with formal financial access at just 48% in 2018, according to the findings of the 2018 Making Access Possible (MAP) study, there is immense potential for lending institutions in Myanmar to leapfrog digitally, adapting their channels and services to meet customer needs even in rural areas, hence driving financial inclusion. This growth is primarily driven by the explosion in smartphones and internet penetration. With the Smart Credit solution, Yoma Bank and Experian are at the forefront to provide digital services for borrowing, payments and savings, while promoting responsible lending. Responsible lending helps protect customers from taking on debts that they are not in a position to repay.

 

Using Yoma Bank’s mobile banking app, which is fast, agile and scalable, customers can apply for unsecured personal loans through Experian’s Digital Onboarding platform. Approval decisions are processed by Experian’s Decisioning engine. The engine parses real-time requests based credit scores and provides associated credit decisions for micro-lending requests. It draws from a range of data sources that are unique to developing markets such as Myanmar, combining data from the customer’s mobile operator, historical banking data, demographics and self-reported data.

 

The Smart Credit loan application platform is designed to put the customer in control of their own credit decision-making, with each approval based on the customer's individual banking, savings and transaction behaviour. The Smart Credit partnership enables Yoma Bank with the capability to leverage on alternative data to make better lending decisions and is based on Experian's best practice Digital Onboarding solution.

 

Dev Dhiman, Managing Director, Southeast Asia & Emerging Markets, Experian said, “The Smart Credit solution represents an innovation in a market like Myanmar with limited public data on clients or businesses available, and is the first product of its kind to pioneer access to unsecured loans for consumers in a convenient and automated manner at scale.”

 

“Our partnership with Yoma Bank reinforces our focus on responsible lending, expanding lender visibility and improving credit access. It also reaffirms and strengthens Experian’s ongoing commitment to Myanmar by enabling and deepening access to formal financial banking services for millions of people in the country,” he added.

 

Experian’s decisioning capabilities will help provide a more comprehensive consumer credit view of thin-file customers with increased potential for credit inclusiveness, with the ability to leverage new types of alternative data for risk evaluation, while providing a unique view of how accounts are performing in the early stages of credit relationships.

 

“The Smart Credit solution will enable Yoma Bank to acquire new retail banking customers. The platform is also agile, allowing the bank to quickly respond to changes in credit targeting or criteria. Moving ahead, we hope that this will also motivate customers to use our mobile banking app regularly,” said Mark Flaming, Chief Digital Officer, Yoma Bank. “Experian has an outstanding track record with creating onboarding journeys and decision engines globally. We’re thrilled and honoured to be working with a like-minded partner to enhance the lives of consumers across the country,” he added.

 

The Smart Credit solution eliminates tedious paperwork, enabling loan applications to be completed in just minutes. The platform has enabled Yoma Bank to acquire 1,100 new retail banking customers a day - up from 500 a day six months ago. The customer acquisition growth has been 120 percent within the first six months of the launch of the solution. Within three months, customers are averaging 15 transactions a month across Yoma Bank’s products.

 

Built on a scalable lending platform, the solution is designed to meet the needs of the geographically diverse Myanmar market and makes it easier for consumers to enter Yoma Bank’s financial ecosystem. The enhanced digital offerings will complement Yoma Bank’s 70 physical branches in Myanmar, enhancing financial access for small businesses as well as unbanked individuals nationwide.

 

Yoma Bank and Experian were recently awarded The Asian Banker’s Business Achievement Awards category of “Best Data and Analytics Initiative, Application or Programme 2019” at The Financial Technology Innovation Awards Programme 2019. The awards ceremony was held in conjunction with The Future of Finance Summit, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, held in Bangkok on 30 May 2019.

 

 

Yoma Bank memiliki tujuan untuk berevolusi pada sektor perbankan di Myanmar, sambil mempromosikan penyaluran kredit yang bertanggung jawab, memanfaatkan berbagai solusi pengambilan keputusan dari Experian
  • Ingin mengubah akses perbankan ritel (mass market) terhadap kredit tanpa agunan (unsecured loan) lewat solusi Smart Credit, menitik beratkan pada nasabah nasabah dalam mengambil keputusan sendiri tentang fasilitas pinjaman perbankan
  • Pengajuan pinjaman diproses oleh platform Digital Onboarding dari Experian, dimana pengambilan keputusan terhadap penerimaan kredit melalui solusi decision engine Experian
  • Proses onboarding terintegrasi aplikasi perbankan seluler (mobile banking) Yoma Bank demi menyajikan pengalaman pelanggan yang lancar

JAKARTA, 9 Agustus 2019 /PRNewswire/ -- Yoma Bank, salah satu bank swasta terbesar di Myanmar, bersama Experian, pemimpin global dalam jasa informasi, telah merevolusi dan menjadikan kredit tanpa agunan (unsecured lending) lebih mudah diakses di Myanmar, lewat pemutakhiran solusi Smart Credit. Solusi tersebut menjadi produk pertama dan satu-satunya di Myanmar yang menawarkan kredit tanpa agunan kepada kalangan nasabah ritel (mass market customers), serta kelak menyediakan akses keuangan yang lebih luas bagi penduduk Myanmar yang belum terjangkau layanan perbankan.

 

Jumlah penduduk Myanmar mendekati 54 juta jiwa, dan pada 2018, hanya 48% di antaranya yang memiliki akses keuangan formal. Menurut kajian "Making Access Possible (MAP)" tahun 2018, ada peluang yang luar biasa bagi kalangan lembaga penyalur pinjaman di Myanmar untuk melakukan lompatan besar di era digital, menyesuaikan berbagai kanal dan layanannya demi memenuhi kebutuhan nasabah di wilayah pedesaan, sehingga meningkatkan inklusi keuangan. Pertumbuhan tersebut sebagian besar digerakkan oleh pesatnya penetrasi ponsel canggih dan internet. Lewat solusi Smart Credit, Yoma Bank dan Experian berada di garis depan untuk menyediakan layanan-layanan digital dalam hal pinjaman perbankan, pembayaran, serta tabungan, sambil mempromosikan penyaluran kredit yang bertanggung jawab. Aspek tanggung jawab dalam kredit perbankan melindungi para nasabah agar mereka tidak mengambil kredit yang tidak mampu dilunasinya.

 

Dengan aplikasi perbankan seluler Yoma Bank yang berkinerja cepat, gesit, dan memiliki skala yang memadai, para nasabah bisa mengajukan permohonan kredit tanpa agunan melalui platform Digital Onboarding Experian. Pengambilan keputusan diproses oleh solusi Decisioning Experian. Mesin perangkat lunak ini menguraikan (parse) permintaan secara seketika berdasarkan skor kredit dan menyetujui pemberian kredit yang terkait dengan permohonan pinjaman mikro (micro-lending). Teknologi tersebut memanfaatkan rangkaian sumber daya yang bersifat unik bagi negara-negara berkembang seperti Myanmar, menggabungkan data dari operator seluler yang digunakan nasabah, data perbankan secara historis, demografi dan data yang dilaporkan sendiri (self-reported data).

 

Platform pengajuan kredit Smart Credit dirancang agar nasabah bisa mengambil keputusan sendiri tentang fasilitas pinjaman, dan setiap persetujuan dibuat berdasarkan perilaku perbankan, tabungan, dan transaksi nasabah secara individual. Kemitraan Smart Credit membantu Yoma Bank dengan keahlian untuk memanfaatkan data alternatif sehingga persetujuan kredit bisa lebih baik, dan dilakukan berdasarkan praktik-praktik terbaik pada solusi Digital Onboarding Experian.

 

Dev Dhiman, Managing Director, Asia Tenggara & Negara-Negara Berkembang, Experian berkata, "Solusi Smart Credit mencerminkan inovasi di pasar seperti Myanmar yang memiliki keterbatasan dalam data publik tentang nasabah atau perusahaan, serta menjadi produk pertama dan satu-satunya yang memelopori akses terhadap kredit tanpa agunan bagi para nasabah dalam cara yang nyaman dan otomatis dengan skala yang memadai."

 

"Kemitraan kami dengan Yoma Bank memperkuat fokus terhadap penyaluran kredit yang bertanggung jawab, memperluas visibilitas untuk pemberi pinjaman, dan meningkatkan akses kredit. Kerja sama tersebut juga menegaskan kembali dan memperkuat komitmen yang tengah dijalankan Experian bagi Myanmar, dengan mendukung dan memperluas akses terhadap berbagai jasa perbankan serta keuangan formal bagi jutaan warganya," lanjut Dev Dhiman.

 

Fitur-fitur pengambilan keputusan Experian kelak menyajikan pencermatan yang lebih komprehensif terhadap kalangan nasabah yang belum begitu banyak mengambil kredit perbankan. Dengan demikian, inklusivitas kredit berpotensi meningkat lewat pemanfaatan jenis data alternatif yang baru saat menilai risiko, sambil menyediakan amatan istimewa tentang kinerja akun-akun pada tahap awal dari hubungan kredit.

 

"Solusi Smart Credit akan membantu Yoma Bank untuk memperoleh nasabah perbankan ritel yang baru. Platform ini juga berkinerja gesit, sehingga pihak bank bisa dengan cepat menindaklanjuti sejumlah perubahan dalam sasaran atau kriteria penyaluran kredit. Ke depan, kami berharap, kerjasama ini juga mendorong para nasabah untuk menggunakan aplikasi perbankan seluler kami secara rutin," ujar Mark Flaming, Chief Digital Officer, Yoma Bank. "Experian memiliki rekam jejak yang luar biasa di dunia dalam menciptakan onboarding dan mesin perangkat lunak untuk pengambilan keputusan. Kami gembira serta mendapat kehormatan atas kesempatan kerja sama dengan mitra yang sama-sama ingin meningkatkan taraf hidup berbagai nasabah di Myanmar," tambahnya.

 

Solusi Smart Credit mengurangi berkas kerja yang merepotkan, dengan demikian, pengajuan kredit dapat selesai dalam hitungan menit. Platform ini telah membantu Yoma Bank untuk memperoleh 1.100 nasabah perbankan ritel baru dalam sehari—bertambah 500 nasabah per hari ketimbang enam bulan lalu. Pertumbuhan akuisisi nasabah telah mencapai 120 persen dalam enam bulan pertama sejak solusi ini diluncurkan. Dalam tiga bulan saja, nasabah secara rata-rata melakukan 15 transaksi per bulan untuk seluruh produk Yoma Bank.

 

Memanfaatkan platform pinjaman perbankan dengan skala yang memadai, solusi tersebut dirancang untuk memenuhi kebutuhan pasar Myanmar dengan berbagai jenis wilayah, serta mempermudah nasabah untuk memasuki ekosistem keuangan Yoma Bank. Portofolio layanan digital yang lebih baik ini akan melengkapi 70 kantor cabang fisik Yoma Bank di Myanmar, memperluas akses keuangan bagi usaha-usaha kecil serta warga-warga yang belum terjangkau layanan perbankan di seluruh negara tersebut.

 

Yoma Bank dan Experian baru-baru ini menerima "Business Achievement Awards" dari The Asian Banker untuk kategori "Best Data and Analytics Initiative, Application or Programme 2019" pada ajang "The Financial Technology Innovation Awards Programme 2019". Malam penghargaan digelar berbarengan dengan acara "The Future of Finance Summit", pertemuan tahunan terkemuka bagi para pengambil keputusan di sektor jasa keuangan Asia Pasifik, digelar di Bangkok pada 30 Mei 2019.

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Experian

By Experian 08/09/2019

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