CT Aims for 10 Million Allo Bank Users in First Year

PT Allo Bank Indonesia Tbk (IDX: BBHI) will launch an application mobile banking commercially in March 2022. For the initial stage, the company is aiming for one million users in its first week of launch.

Presented by the owner CT Corp Chairul Tanjung, the new Allo Bank application is available for trial for employees in all of its subsidiaries. Currently, Allo Bank has been used by 43.000 users.

"In the first year, we were aiming for ten million users, but the target ultimate We have 50 million users," said the man who is familiarly called CT in the Allo Bank Press Conference, Tuesday (1/11).

CT also explained that it is still trying to gradually form Allo Bank's management. It is known that the new Allo Bank board of directors consists of Harry Abbas and Yohanes.

"We are still in the stage of forming a solid, strong management that combines Indonesian and global talents. We hope to have complete management at the next General Meeting of Shareholders or Allo Bank AGM. Our strategic partners can provide suggestions regarding the possibility of [placing] the person. in Allo Bank management," he added.

Furthermore, CT revealed that Allo Bank is supported by the strength of technology and ecosystem which are key elements in establishing a digital bank. From the technology aspect, CT said that it has collaborated strategically for the last two years with the world's largest digital bank to develop technology systems, both for mobile devices to report the and hardware at AlloBank.

He was reluctant to name the bank, but it is known that the strategic partner is WeBank, a digital bank owned by Chinese technology giant Tencent. WeBank leverages AI technology, blockchain, cloud, to big data to offer various financial products to the MSME segment. Currently, WeBank has more than 200 million users.

"So is the ecosystem. Even though we feel that our ecosystem is strong, collaboration is still needed in the digitalization era. Digital ecosystems have weaknesses, as well as physical ecosystems. By combining the two, we can create a solid ecosystem. Therefore, we invite other ecosystems to collaborate. We believe our platform can answer challenges and can be big, both in terms of transactions, customers, and profitability," he said.

Allo Bank's giant ecosystem

According to CT, Allo Bank will be strengthened by its giant ecosystem. Not only from the ecosystem of its subsidiaries, Allo Bank will be supported by the ecosystem of a number of strategic partners, such as: Bukalapak, Carro, and Traveloka.

For information, CT Corp has three major business units consisting of Mega Corp (finance), Trans Media (media), and Trans Corp (fashion, retail, F&B, hospitality, etc).

His party is preparing a number of Allo Bank products/services that are integrated with the entire ecosystem at CT Corp. For example, Allo Bank users can transact O2O at Transmart or open an account via digital media.

"We carry the concept of one-for-all which allows Allo Bank users to connect and integrate across our ecosystem. We hope [all ecosystems] can be connected because [the integration] is gradual and there must be priorities," he explained.

Furthermore, CT also added that all of its strategic partners, including Mega Corp and CT Corp, have been bound locked up agreement for three years from the date of recording. This means that for the past three years they are not allowed to sell their shares in order to protect the interests of retail investors.

On the other hand, CT also emphasized that there was no attempt to merge Allo Bank with its subsidiary in the banking sector, Bank Mega. According to him, Allo Bank can act as a digital extension and innovation for Mega Corp's subsidiaries, such as Bank Mega, Bank Mega Syariah, as well as CT's minority shareholding in the Regional Development Bank.

Recently Allo Bank also announced a limited public offering (rights issue) valued at Rp. 4,8 trillion by releasing 10,04 billion shares or 86% of BBHI's total capital at Rp. 478 per share. There are six companies involved as investors, including Bukalapak, Traveloka through Abadi Investments, and Carro through Trusty Cars.

In a previous statement, Allo Bank Commissioner Ali Gunawan expressed his enthusiasm for launching loan services to Indonesians who are underserved and underserved by financial products, such as loans, investments and insurance.