Problems and solutions for online deposits deployment in Indonesia: a descriptive analysis

Abstract

When clients make financial transactions using their smartphones, digitalization in banking is an endeavour to continue innovating in order to provide a variety of services and conveniences for those customers. One of the improvements in financial products that enables clients to create an online account without their needing to be physically present is the online deposit service. This research makes use of descriptive methodologies and reviews of existing literature to identify a variety of issues that arise throughout the process of putting into practise online deposit products. The findings of this research include the following: (1) the number of supporting infrastructure facilities for banking digitalization is still relatively limited; (2) many banking terms are difficult for the general public to understand; and (3) the number of cybercrimes that are occurring as a result of the increasing number of users in this industry. The author of this study offers potential solutions to the issues that have been brought to light, including (1) the enhancement of IT infrastructure and an increase in the level of security; (2) online operator facilities that explain directly; and (3) the updating of security and operator knowledge on a variety of newly emerging modes of criminal activity related to the internet. People will be more likely to believe, feel secure, and be willing to deposit their money in the bank as a result of this activity, particularly the online placing of deposit funds. This research makes a contribution to the growth of information regarding the many initiatives being made to digitalize banking in Indonesia.