Business

Siapa Saja Pelaku dalam Gig Economy?

arungruang — Wed, 19 Jan 2022 11:09:08 +0000

Meet the Three Players of Gig Economy? arungruang January 19, 2022

The current pandemic conditions have forced the informal sector workers to be more creative in seizing available opportunities. The informal sector houses various occupations, from online motorcycle taxi drivers (ojek), resellers or dropshippers of online stores, to freelance content creators making their living via YouTube, Instagram, TikTok, and many others. These workers usually work on a freelance basis, with many of them relying on online platform as the main source of income. They are some of the important players of gig economy.

Gig economy is a freelance work market system where corporations are able to contract independent workers for a short period. The word ‘gig’ in this context refers to work being done in a certain time period.

This system reflects the growing number of freelance workers recruited for short-term projects, or even strictly for the time their services are needed. A skilled freelance worker can easily work anywhere, flexible in taking gigs, and should be able to obtain a good income.

There are three players in the gig economy system:

1. Corporations

Corporations take an important role in gig economy. Not any company can be considered as a gig economy player. Corporations in this sector include companies such as Uber, Grab, Gojek, Lyft, Airbnb, Etsy, TaskRabbit, and many others. They all have some things in common:

Facilitate direct transaction between consumers and producers.
Offer flexible working hours for their workers.
Implement online payment using platforms.
Utilize online profiles and reviews from producers and consumers.

2. Workers

Gig economy workers can be grouped into two categories: those who offer services, and those who offer goods. Service providers include drivers, couriers, handymen, and others. Goods providers include artists, clothing resellers, craftsmen, and others.

3. Consumers

In line with the general definition of consumers, these are the people who enjoy the goods or services offered in the market. They are an important part of gig economy, as no transactions can work without any demand from consumers.

As with any other economic sector, there are challenges that need to be overcome by gig economy workers. However, with help from Bank Raya API, the challenges just become easier to handle. Let’s grow gig economy with Bank Raya!

Virtual Account

arungruang — Tue, 04 Jan 2022 07:28:10 +0000

Virtual Account arungruang January 19, 2022

As an entrepreneur in the plant nursery business, there are a lot of things to do each day. You have to make sure that your highly sought-after houseplants grow beautifully, while keeping them safe and secure for proper delivery. You must answer the seemingly never-ending inquiries from would-be customers—some of them are even hit-and-runs: those that ask a lot of questions without actually buying anything.

Thankfully, some of the customers do buy something. This means you have to cater to their transactional needs, including opening up accounts in various banks to facilitate as many transactions as possible. However, with that many purchases from customers, surely it gets harder for you to check and confirm each transfer by switching between different accounts—even different banks. It is a hassle and takes a lot of time, not to mention the potential difficulties related to recordkeeping.

Bank Raya now provides a convenient and practical solution for handling digital transactions: the virtual account.

A virtual account is a string of ID number that can be used for payment purposes. The ID number is usually created by the bank selected by the shop or business, for the purpose of making transactions. For each transaction, each customer will receive a unique ID as the destination for their payment transfer.

Given that each virtual account has a unique code, the business owner can set the amount of payment and usage type for each virtual account, thus automating the identification process. The transaction will also be recorded in a safer and more practical way. The transaction or payment can be completed within a certain time from anywhere, regardless of the location of your business.

Usage of the Bank Raya virtual account will surely help your plant nursery business. Every transaction can be done quickly and safely, both for the business owner and the customers. As a business owner, you will receive all information related to the transaction in a quicker and more convenient way, including the amount of funds transferred in or out. From the customer side, usage of the Bank Raya virtual account will speed up the transaction process. After making the fund transfer, buyers do not have to send any confirmation of payment such as transfer receipt.

The Bank Raya virtual account is available as a feature in the Bank Raya API. Let’s start collaborating and let Bank Raya API enhance your services and digital business transactions.

Mengenal Profesi Yang Termasuk "Gig Economy"

arungruang — Tue, 04 Jan 2022 07:21:47 +0000

Get to Know These "Gig Economy" Jobs arungruang January 19, 2022

Bank Raya was established with a vision to empower gig economy in Indonesia by enhancing digital infrastructure. Let’s take a look at the definition of gig economy and the type of jobs that can be categorized as gig economy jobs.

The word ‘gig’ in the term gig economy comes from a commonly used word in the arts and entertainment industry. A gig is basically a project that is currently being worked on by an artist or entertainer. By taking a gig, the artist will receive compensation based on the amount of work done and the time it takes to finish the project. This system has been widely adopted in various industries. Thus, a gig worker may be defined as a person who is paid based on the amount of work they do, instead of monthly salary.

The following are some examples of jobs that can be categorized as gig economy jobs:

1. Freelance writer

A freelance writing job, such as a content writer or technical writer, is an interesting gig. If you like to write and are skilful in employing good writing techniques, a good internet connection may be all you need to start your content writing or technical writing gig from the comfort of your own home.

2. Graphic designer

A skilful graphic designer may find themselves in high demand by a lot of employers, from event organizers and cafes to start-ups and large corporations. The competency that is often required by employers offering a graphic design gig usually is proficiency in design software apps.

3. Translator

A translator can work from anywhere and often is able to take on several translation projects or gigs simultaneously. There are plenty of translation projects available from various industry sectors, such as subtitling a film, translating official company documents, scientific papers, and news articles.

4. Website developer

To create a website, the services of a website developer is essential. A website developer’s work may include designing, developing, modifying, or analysing the website being developed, to meet the requirements of the corporation or institution offering the gig.

5. Data entry

Data entry jobs require a high level of concentration and the ability to do precise and accurate work. However, these types of gigs usually do not require any special skills or even presence in the employers’ premises. Data entry gigs can be taken from home, when supported by adequate hardware and internet connection.

Through its application programming interface or API, Bank Raya provides fast and efficient digital banking services to support the growth of gig economy in Indonesia.

Digitalisasi UMKM Pada Masa Pandemi

arungruang — Tue, 04 Jan 2022 07:25:00 +0000

During Pandemic, Small Businesses Turn to Digital arungruang January 19, 2022

The Covid-19 pandemic that engulfed the world has forced the public to be more open-minded toward the use of digital payment for daily necessities. Inevitably, there is a demand for micro, small and medium enterprises or MSMEs to quickly adapt to the new normal by implementing digital payment systems.

Assistant Governor and Department Head of Payment System Policy of Bank Indonesia Filianingsih Hendarta emphasized that digital payment system is one of the pillars in the digitalization of Indonesian MSMEs during the pandemic.

“Digitalization of MSMEs can be kicked off by digitizing the payment side. The pandemic conditions have accelerated the digital [transformation], as [businesses] must, and are forced, to do it. Ultimately, this will result in [a change in] customer experience and customer behavior as they are getting accustomed to it,” said Ms. Filianingsih during an online seminar titled “Utilizing Technology to Empower Indonesia’s SMEs” held by Artha Jasa in September 2021.

Furthermore, Ms. Filianingsih said that the digitalization trend, from the consumer side and the MSMEs, is growing fast thanks to more digital payment options, both in terms of variation and quantity. In addition, the shift in public preference, who are already familiar with doing transactions online from their own homes, is also driving digitalization of MSMEs.

“This also shows that digital economy transactions are growing due to increased acceptance of the public to the services. Banks have also transformed to offer convenience for their customers,” she continued.

With the Indonesian Payment System Blueprint 2025, Bank Indonesia (BI) provides a policy direction for payment system, in order to navigate the role of the payment system industry during the current era of digital economy and finance.

The blueprint states five visions of the Indonesian Payment System for the year 2025: Open Banking; Retail Payment System; Large Amount Payment System and Financial Market Infrastructure; Data and Digitalization; and Reformation of Regulations, Permits, and Monitoring. The blueprint will be manifested in the form of 23 key deliverables, which will be implemented gradually between 2019 and 2025.

One of the highlights of BI’s efforts on digital payment is the usage of the Quick Response Indonesia Standard (QRIS) for MSME’s and the general public. The central bank noted that currently there are around 8 million MSMEs merchants that are already integrated with QRIS. BI targets 12 million merchants to be integrated with QRIS by the end of 2021.

Is your business already implement digital payment? Bank Raya, with Raya API, is ready to support you with the right infrastructure for the acceleration of your business.

Pembukaan "Community Branch" Pertama BANK RAYA

arungruang — Tue, 04 Jan 2022 07:26:54 +0000

First Bank Raya "Community Branch" Opens in Cirebon arungruang January 19, 2022

PT Bank Raya Indonesia Tbk opened its first community branch in Cirebon, West Java, on 15 November 2021. The opening ceremony was attended by the Head of the Financial Services Authority (OJK) Office in Cirebon Mohammad Fredly Nasution, Head of the Representative Office of Bank Indonesia in Cirebon Bakti Artanta, President Director of Bank Raya Kaspar Situmorang, Director of Finance and Operations of Bank Raya Arif Wicaksono, and Commissioner of Bank Raya Rina Sa’adah, along with local leaders and stakeholders.

The official opening of the Cirebon community branch is part of Bank Raya’s initiative to serve the gig economy community and fintech agents in Cirebon. The community branch is established primarily to build digital infrastructure through a coherent customer experience.

For the digital economy players in Cirebon, the community branch may function as access point for gig workers, as means for educating the community on digital banking services, and as acquisition point for community-based/supply chain lending. The community branch can also offer more than just a solution, by becoming an intermediary between the needs of merchants and suppliers. Overall, the goal is to build a business ecosystem with the continuous support of Bank Raya.

President Director of Bank Raya Kaspar Situmorang was very enthusiastic on the opening of the Cirebon community branch as the first community branch of Bank Raya, which is in the process of transformation from Bank Rakyat Indonesia Agro into Bank Raya.

“Our commitment is to continuously maintain the quality of service and increase customers’ convenience in receiving digital banking services. In the future, we hope that the community branch can act as the growth hub for community-based lending in Cirebon and surrounding areas,” said Mr. Kaspar.

The Head of OJK Office in Cirebon Mohammad Fredly Nasution shared his excitement for the opening of community branch of Bank Raya. The event is a proud moment for Cirebon, he said, as this is Bank Raya’s first community branch and the opening was attended by the President Director and directors or Bank Raya. “We extend a warm welcome to Bank Raya in its innovation by transforming into a digital bank,” said Mr. Fredly.

According to OJK, despite the pandemic conditions, performance of the banking industry in Cirebon demonstrated growth at 3.33 percent. “We remain optimistic that our economy is on the right track. We also hope that the presence of Bank Raya can contribute to the economy of Cirebon,” continued Mr. Fredly.

Bank Raya is a part of BRIvolution, which is the grand strategy of PT Bank Rakyat Indonesia (Persero) Tbk in fulfilling its commitments of providing the best service required by the people of Indonesia, particularly in regard to digital banking services. The business transformation of Bank Raya will result in easier access for customers to banking products and other digital banking solutions.

Collaboration with Raya API

admindev — Thu, 18 Nov 2021 09:18:41 +0000

Collaboration with Raya API admindev November 18, 2021

The Indonesian financial industry is in the midst of a fast-growing digitalization. This has the potential to increase financial inclusion for the unbanked and underbanked population in Indonesia. To achieve this potential, there has to be collaboration between banks and financial technology (fintech) companies in order to ensure growth of the ecosystem.

“The swift rise of digital transformation in Indonesia is made possible because banks and fintech companies grow together, supported by an increase in the digital finance solution literacy across all social-demographic profiles of customers. I believe that, in the future, the underbanked population along with [state-owned enterprises] will continue to look for digital finance solutions to meet their needs,” said Bhimo Wikan Hantoro, Chief of Digital Banking BRI Agroniaga.

Collaboration between banks and fintech companies can be accelerated through integration of Application Programming Interface (API). API is a software interface that enables two applications or institutions, such as fintech companies and banks, to communicate with each other.

One of the technology companies in collaboration with PT BRI Agro Tbk is PT Majoo Teknologi Indonesia. A memorandum of understanding (MoU) between the two parties was signed on May 2021.

Majoo is an entrepreneurial application that provides mini-ERP for SMEs. As a provider of Comprehensive Business Management Services for SMEs, Majoo is equipped with features such as point of sales (PoS) application, inventory and customer management systems, accounting, payroll, business analytics, and online orders.

In establishing itself as the House of Fintech, BRI Agro continues to expand its collaboration with fintech companies and PoS providers, including Majoo. “Through collaboration with Majoo as a member of the BRI Ventures portfolio, our strategy is to [embed] Majoo as one of the ecosystems within BRI Group in order to scale up its business size,” said Sigit Murtiyoso, Director of Agri-Retail and Funding of BRI Agro in a written statement.

According to the MoU, BRI Agro and Majoo will collaborate in banking services, specifically in providing lending facilities. Both parties also reached an understanding to integrate their open API via the Majoo platform, in order to facilitate customers of BRI Agro in their payment activities.

“We are very optimistic that the collaboration with Majoo will contribute to the community and gig economy workers in Indonesia. In the future, BRI Agro hopes to expand its collaboration with fintech players, as it will open more opportunities for us to better provide digital banking services,” said Sigit.

Bidik Gig Economy, Bank Raya Indonesia Siap Jadi Bank Digital Terbaik

arungruang — Wed, 19 Jan 2022 02:41:34 +0000

Targeting Gig Economy, Bank Raya is Ready to be the Best Digital Bank admindev January 19, 2022

Fresh from its rebranding on 1 November 2021, PT Bank Raya Indonesia Tbk has implemented some significant changes, especially relating to the company’s vision and mission statements.

The new vision for Bank Raya is to be the Best Digital Bank for Agri and Beyond by Becoming House of Fintech and Home for Gig Economy. Bank Raya has also aligned its company missions to the new vision.

The first mission is to focus on providing digital-based high quality banking services which support the economy at the community level, particularly in the gig economy segment and micro, small and medium enterprises (MSME).

The second mission for Bank Raya is to provide digital banking services through people with Living, Attractive and Ideal Values and a Performance-Driven Culture, by applying excellence in operating principles and in risk management.

Bank Raya’s third mission is to apply a Good Corporate Governance and deliver optimal benefits for stakeholders by building on its internal capabilities as a digital bank in the aspects of data, technology, talent, and organization.

To become the Best Digital Bank for Agri and Beyond, Bank Raya focuses its efforts on the following three pillars:

Create digital applications to meet the needs of customers during this digital transformation era.
Digitalization and automation.
Revamp; for example when a current operating work unit experiences a decline in the intensity of its work, they can be transformed into a work unit that concentrates on attracting gig economy customers.

The three pillars are supported by fintech players that can channel Bank Raya’s services into existing ecosystems. In addition to recruiting BRILink agents to expand the marketing of products, Bank Raya also collaborates with gig economy ecosystems, including with Gigacover to provide financial services to factory workers by offering lower interest rates.

In line with the change of company focus into digital bank, during 2021 Bank Raya added more employees in its IT division into 111 people, compared to 2020 at 45 people. Total employees of Bank Raya for the year amounted to 1,000 people, up from the previous year’s number of 800 people.

Transfer External dan Internal

admindev — Wed, 22 Dec 2021 05:01:01 +0000

Transfer External dan Internal admindev December 22, 2021

Congratulations, your wedding organizer business is starting to take off! After that Instagram celebrity wedding gig that you have just successfully organized, your inbox is flooded with orders and inquiries. This calls for close communication and relationship with vendors, from your decorator specialist, caterer, bridal makeup, to wedding bands, and many more. Imagine that you are booked in one weekend by four wedding gigs—each with its own needs and vendors.

Collaboration with many vendors means doing transactions—a lot of them, with some vendors even having different bank accounts. Imagine the length of time you would have to spend to make your payments to the vendors, with visits to multiple bank branches or even just standing for a long time in front of the ATM, doing fund transfers to various accounts.

Such worries are behind you now. With the External Transfer API, Bank Raya provides convenience for entrepreneurs like you when there is a need for you to transfer funds to other banks. Using this API, transferring payments to vendors using other bank accounts is now more practical, without you having to go to a bank or an ATM. The transfer can be done from the dashboard of your company’s system.

Not just helping you in maintaining good relationship with vendors, Bank Raya API is also able to assist you in the other side of the transaction. With the Internal Transfer API, Bank Raya provides convenience for you in making internal payments. In just a few clicks, you can ensure that your employees received their wages promptly, or that your field crew has access to petty cash to pay for that extra cleanup work.

Using Bank Raya API, you do not need to be overwhelmed by transactional necessities for your gigs. Your financial transactions are now easier and faster, using just a few clicks.

Let’s collaborate with Bank Raya and see how fast your business can grow.

BRI AGRO Rebrand Itself into BANK RAYA

admindev — Tue, 21 Dec 2021 09:19:14 +0000

BRI AGRO Rebrand Itself into BANK RAYA admindev December 21, 2021

Effective on 27 September 2021, PT Bank Rakyat Indonesia Agroniaga Tbk officially changed its name into Bank Raya. President Director of BRI Agro Kaspar Situmorang stated that the rebranding is in line with its plan to transform its business model into a digital bank.

“This aligns with our commitment to transform the image of BRI Agro, previously connected to agriculture or a palm oil bank, into a full orientation as a digital bank,” he said.

Kaspar said that the Covid-19 pandemic acted as a catalyst for the banking industry to undergo digital transformation.

Digital banks provide banking services just like conventional banks, with one key difference: digital banks provide fully online services, thus eliminating the need for customers to physically enter the premises of a branch office.

According to a survey of its readers by KG Media, people are still confusing e-wallets, internet/mobile banking, and digital bank with one another.

Of 613 respondents of at least 17 years old, 71 percent stated that they do not understand the definition of digital bank and only 29 percent who said that they understand the definition.

Interestingly, among the people who said that they understand the definition of digital bank, most of them associate the term with “ease of transactions”. This is markedly different with conventional banks, which the survey said that is closely associated with “savings”.

This finding indicates the public’s positive perception of digital banks, again in contrast with conventional banks which tend to be neutrally perceived by the public. An interesting point is that respondents that have never used the services of digital banks show the same perception. This demonstrates that public awareness of digital banks is quite high.

The study also shows that the image or impression that comes to mind when a person uses the services of digital banks is practical (41%), cool (12%), technologically advanced (10%), and modern (9.6%). No wonder that the majority of users are Gen Y (millennials) and Gen Z (zoomers). In general, the two groups state the same reason when deciding to use digital banks: more beneficial facilities.

The results of this study demonstrates that the rebranding of BRI Agro into Bank Raya is the right step to fulfil the needs of the community. Under its new name, the bank that previously was closely connected with a farming image has now opened itself into collaborations with technology companies and new investors.