b. Strengthening the Value Proposition of digital lending products through Digital Lending product enhancements, including: - Integration of digital lending products with partners, especially digital platform providers. - Expanding the structure of digital lending products according to customer needs. c. Implementation of hybrid collection by combining technology and humans. d. Continuing the development and marketing of Raya Open API, Acquiring QRIS. e. Carrying out the development of Laku Pandai services to increase financial inclusion. f. Carrying out embedded finance development. g. Integrating technology and business through developing fraud detection for all digital products. h. Enhancing the loan scoring engine by utilizing machine learning for digital lending products. i. Enhancing and developing the bank’s technological infrastructure. j. Improving the governance process through the preparation and evaluation of supporting policies, including market conduct, feasibility of partnerships, and other policies. k. Strengthening the function of the second line of defense and increasing the risk awareness culture through the implementation of the risk culture framework. BRI GLOBAL FINANCIAL SERVICE COMPANY LIMITED The GMS of BRI Remittance Company Limited on November 14, 2019 has approved the change in the name of the Company from “BRI Remittance Company Limited” with the commercial name BRI Remittance, to “BRI Global Financial Services Company Limited” with the commercial name BRI Global Finance. This change in company name is as stated in Certificate of Change Name No. 961091 with No. Ref. 40021194025 by Company Registry Hong Kong on October 30, 2023. The long time lag between the shareholder decision and the implementation of the decision was due to protests and demonstrations related to the extradition and national security law in 2019 as well as the pandemic and the Hong Kong Government’s lockdown policy in 2020 - 2022 which caused some Hong Kong Government and authority services to take longer than standard SLAs. Table of BRI Global Financial Services Co Ltd Hong Kong Performance (Productivity) Description 2023 2022 Growth (Nominal) (%) Asset (in HKD) 12,296,119 9,006,320 3,289,799 36.53% Asset (in IDR billion) 24,23 17,98 6,25 34.76% Total Transaction 463,063 295,686 167,377 56.61% Nominal Transaction Amount (HKD) 1,256,912,406 766,974,922 489,937,484 63.88% Notes: 1 HKD exchange rate as of 31 December 2023 = IDR1,970.725 Aset BRI Global Financial Services Co Ltd Hong Kong tahun 2023 BRI Global Financial Services Co Ltd Hong Kong assets in 2023 amounted to IDR24.23 billion, an increase of 34.76% compared to 2022 of IDR17.98 billion. This increase was a contribution from increased profits which were fully retained, resulting in an increase in assets. Apart from that, the increase in assets in 2023 was also influenced by the recording of right-of-use assets from premises leased by BRI Global Financial Services Co Ltd in accordance with the provisions of HKFRS16 (PSAK 73) which had a significant impact on the overall increase in assets. BRI Global Financial Services Co Ltd Hong Kong’s revenue in 2023 was IDR20.42 billion, an increase of 43.60% compared to 2022 of IDR14.22 billion. This increase in revenue was proof of the success of the company’s transformation in accordance with the BRIvolution 2.0 blueprint with the transformation objects, namely the business model and digitalization. In the business model transformation, BRI Global Financial Services Co Ltd Hong Kong succeeded in growing a new source growth engine by serving foreign exchange remittance company transactions in Hong Kong and outside Hong Kong such as Taiwan, South Korea, Japan, Malaysia, Brunei Darussalam and the UAE. Apart from that, the company also obtained a money lender license, so that currently BRI Global Financial Services Co Ltd Hong Kong could serve loan and trade finance businesses. Meanwhile, for the digital aspect, BRI Global Financial Services Co Ltd Hong Kong digitaliized business processes by providing a digital portal (webbapp) and the RemitGo! to customers. Digitization of business processes PT Bank Rakyat Indonesia (Persero) Tbk. 2023 Annual Report 246
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