Bareksa Testing "Robo Advisor" Feature, Update App Appearance

One of the pioneering e-investment startups, Bareksa, announced an update to its logo and the appearance of a new application, as well as the addition of features to its platform. Now customers can invest in mutual funds, Government Securities (SBN), gold, and sharia mutual fund savings for Umrah.

In addition, Bareksa also admitted that he was in the beta testing BATARA service (BAreksa TActical Robo Advisor) for their first 1000 registered customers.

Since obtaining an official license as a Mutual Funds Selling Agent (APERD) from Financial Services Authority (OJK) in early 2016, Bareksa continued to record significant growth. As of the end of July 2020, Bareksa's total investor accounts reached 1,1 million where the number of SID (Single Investor Identity) jumped 590% compared to April 2018. This growth is claimed to be much higher than the growth of investors in the entire mutual fund industry of 490%.

In the same period, public funds that have been invested in the platform Bareksa jumped almost eight times to Rp 8 trillion. Meanwhile, Bareksa's Asset Under Management (AUM) increased fourfold, while the AUM of the entire mutual fund industry fell -1%.

Karaniya Dharmasaputra as Co-founder & CEO of Bareksa also said an interesting thing, when the Covid-19 outbreak hit the global economy, the number of investors increased by 57 percent. This proves that the role of financial technology will become increasingly important in entering a new order after the pandemic.

"By harnessing the power of fintech, Bareksa will continue to encourage the democratization of our financial world so that it is no longer only enjoyed by a few people, but also brings benefits to the wider community, and is financially independent," he said at the BareksaLevelUp event which coincided with the 75th anniversary of Indonesia's Independence Day. .

Features of Robo Advisor

One that was also highlighted in the session launch Bareksa is the newest feature that is currently in testing, namely robot advisor. BATARA is an artificial intelligence based tool combined with human wisdom to provide tactical assistance to investors in managing their portfolios and investment tactics.

"We are continuing to consult with OJK so that BATARA can become a robo-advisor which has compliance with regulations, is trusted, credible, honest, transparent, and does not even become a tool marketing, "explained Karaniya.

As is well known, the use of technology robo-advisor the concept itself is to replace the position of financial advisor which is claimed to be very expensive. This technology offers the same solution at a lower cost. However, there is no specific information regarding the conditions for using the feature robo-advisor This Bareksa..

"For this reason, at this stage we are conducting a test" beta First, to solicit input from customers on a limited basis, before we release it to the public," he added.

Some players have also started developing features robo-advisor this is Wonderful and Halofina.