Indonesia is working to establish itself as one of the top 10 economies in the world by 2045. A McKinsey report has predicted that approximately 90 million Indonesian citizens will join the consumer class by 2030 – a number higher than all emerging nations except China and India. In addition, government data indicates that Indonesia’s GDP is expected to grow…
The debt recovery process entails a lender sending out reminders, collecting payments, and, if necessary, initiating legal action against the party that defaults. Disputes will inevitably arise regarding the legal side of debt recovery. However, due to the overwhelming number of cases that are already on the docket, the traditional legal strategy of having cases resolved in court does not…
The digital disruption in the financial sector over the past decade has not only simplified financial management but also improved financial inclusion. A McKinsey report highlighted that despite rapid urbanization, the rural population is likely to form 63% of the total market share in India by 2025. The rapid adoption of digital technologies by various banks and other non-banking financial…
Businesses today are moving toward integrated, specialized, and intelligent strategies for effective customer engagement and retention. With the advent of Artificial Intelligence (AI), Natural Language Processing (NLP), and Robotic Process Automation (RPA), the banking and financial services industry is leveraging new possibilities in digital transformation. With 600 million smartphone users in India, and social media facilitating faster information exchange, powerful…