Krom Bank is set to utilise Amazon Web Services (AWS) Cloud to accelerate digital banking innovation across Indonesia.
The partnership comes at a time where financial inclusion is needed in Indonesia, where 74% of the population is unbanked or underbanked, according to FF News.
Through the use of AWS cloud services, Krom Bank aims to reach these populations by offering secure and user-friendly digital banking services that empower individuals with better financial management tools.
AWS offers a comprehensive suite of cloud services, including generative AI, e-KYC, facial recognition, and scalable database management. These services allow businesses to innovate and optimise operations through advanced technologies.
Krom Bank has built its banking platform using AWS technologies, such as Amazon Aurora for database management and Amazon Elastic Container Service for mobile app capabilities, enabling faster account openings and enhanced security.
AWS services like Amazon Rekognition and Amazon SageMaker also enable advanced machine learning applications for secure and efficient banking experiences, including fraud detection and behavioural analysis.
Additionally, Krom Bank utilises Mambu’s SaaS cloud banking platform, supported by AWS, to scale its operations and offer lending products.
As the first digital bank in Indonesia to operate fully in the cloud, Krom Bank benefits from AWS’s Training and Certification programs, which help upskill its workforce in cloud technologies.
To continue its digital transformation journey, Krom Bank plans to explore further innovations such as chatbot services and virtual assistance powered by AWS’s generative AI platform, Amazon Bedrock. The bank aims to enhance its customer engagement through these technologies.
“AWS provides the flexibility we need to rapidly evolve our suite of financially-inclusive mobile banking services, making them engaging and easy to use,” Krom Bank president director Anton Hermawan said. “Cloud technology helps us deliver innovative and secure financial services to Indonesia’s youth and previously underserved part of Indonesia’s population. Krom Bank benefits from being hosted in the AWS Asia Pacific (Jakarta) region, enabling us to meet local regulatory requirements while serving end-users with lower latency. We look forward to continued robust growth with AWS.”
“The financial services industry in Indonesia is evolving to serve a growing population of new, previously underbanked users with cloud technology, which lies at the heart of any digital transformation program,” AWS country leader for Indonesia Anthony Amni said. “Krom Bank innovates at a rapid pace to develop intuitive banking services on AWS that make managing finances easy and engaging. Removing the complexity from banking is critical for many mobile app users in Indonesia, and the bank achieves this with the agility, security, and availability of the cloud.”
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