This increase was in line with improvements in the national economy and financing performance in the industry began to grow optimally and BRI’s strategy Finance to improve performance by implementing strategic initiatives in 2023. Table of PT BRI Multifinance Indonesia Performance (Productivity) (in IDR million) Description 2023 2022 Growth (Nominal) (%) Asset 9,057,071 7,321,870 1,735,201 23.70% Financing (gross) 7,917,078 6,710,638 1,206,440 17.98% Consumer Financing 6,330,730 4,992,586 1,338,144 26.80% PT BRI Multifinance Indonesia Strategy for 2024 In 2023, BRI Finance improved services by adding 9 (nine) points of sales and strengthening 30 captive points throughout Indonesia. This was done as an effort to optimize services to debtors by accelerating the financing process, so that the distribution of facilities to debtors became more effective and efficient. Marketing of BRI Finance products in 2023 was be carried out through a joint marketing campaign to support increased financing by using operational costs effectively and efficiently. This promotion was carried out by BRI Finance together with dealers and suppliers and was aimed at expanding the collaboration network and increasing BRI Finance brand awareness throughout Indonesia. The development of business operational support systems from the information technology aspect that will be carried out by BRI Finance in 2023 is as follows: 1. Digital signature and e-contract, with the main aim of developing digital signature and e-contract features being customer satisfaction and increasing the productivity of marketers in the field. The features contained in the MyBRIF application make it easier for debtors to sign a digital contract whose validity has been tested. Apart from that, debtors can easily access information related to their financing through the MyBRIF application. 2. New Mobile Order (NEMO), the benefits that the Company feels from developing this tool include accelerating the Service Level Agreement (SLA) process, increasing assets, facilitating leads sourced from MyBRIF and the marketplace and monitoring marketing staff that can be accommodated optimally. 3. Credit risk scoring, development is carried out so that the distribution of multipurpose financing is more comprehensive to obtain a scoring model based on asset type (new car and used car) that is more predictive and effective for determining risk pricing and the Company’s portfolio management strategy. 4. Collection scoring, which aims to make it easier to classify collection priorities for each debtor by using debtor credit history and installment history data, as well as machine learning. PT BRI Multifinance Indonesia Competitive Advantage and Innovation In accordance with the aspirations of shareholders, BRI Finance had a competitive advantage, namely as a single gateway auto loan for the BRI Group. In addition, BRI Finance was the main provider of electric vehicle financing products, as a form of BRI Group’s commitment to support the Government’s policy regarding accelerating the use of Battery-Based Electric Motorized Vehicles (KBLBB). The continuation of BRI Finance’s expansion through the placement of marketers in the BRI business unit network, as of 2023, more than 180 business units had been placed to reach potential throughout Indonesia. BRI Finance’s medium-term strategy is part of a long journey of digital transformation towards “Empowering Autoloan Financing” in 2025. To realize this aspiration, BRI Finance is aware that it will face digitalization challenges accompanied by changes in post-pandemic consumer behavior in the financing industry. This shift in customer expectations changes cooperation patterns, ease of processes, and more seamless services in accordance with customer behavior. BRI Finance will increase investment in information technology through the development and enhancement of various platforms supporting internal business activities, including the core financial system as accommodation for BRI Finance activities, e-General Ledger (eGL) which supports the preparation of BRI Finance’s financial reports, various financing acquisition tools in all segments, as well as various other supporting platforms. In order to strengthen the digital transformation that has been carried out, BRI Finance is maximizing parent synergy in various lines, especially the business group ecosystem. Business Prospect and Strategy for PT BRI Multifinance Indonesia in 2024 Preparing BRI Finance’s long-term business plan for the 2024–2026 period in accordance with shareholder aspirations, namely to become a “Leading Player in Autoloan Financing”, thus expanding the scope of the multipurpose financing market remains BRI Finance’s focus. The innovation and exploration of new sources of growth has implications for BRI Finance’s increasingly complex business. BRI Finance will focus on synergies and cross selling that have been developed in the BRI Group. Apart from that, development is also being carried out on the pipeline of repeat orders from existing debtors and BRI Group value chain debtors. The company continues PT Bank Rakyat Indonesia (Persero) Tbk. 2023 Annual Report 250
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