1. Startups

Bibit Starts Working on the Tajir Customer Segment through “Premium Seeds”

To get this feature, the minimum amount of funds under management in Seed is IDR 500 million; Bareksa and Moduit also have similar features

Platform wealthtech Bibit is the next player to target rich customers as users, by launching a service Premium Seeds. There has been no official statement submitted by the company regarding this, even when contacted DailySocial.id, they are not ready to give a response.

In page company blog It was stated that this Premium Seed targets customers whose investment value on the Bibit platform is at least Rp500 million. Later, they will receive a direct invitation from the Seeds to join.

Seeds offer amount benefits for premium customers, including transactions through Wealth Specialists to submit transactions buy, sell, or switching via WhatsApp. Next, direct consultation with Wealth Specialist about asset management and development, exclusive information about promotions and offers.

Prospects of wealthy customers

Previously, Bareksa had entered into premium customers or high net worth individuals (HNWI) since 2018 through Bareksa Prioritas. Bareksa targets customers with a minimum managed fund of IDR 5 billion, which is bigger than Bibit Premium.

The company provides various services for HNWIs ranging from research reports, Bareksa technology features for Priority Bareksa, to customer loyalty program according to customer needs.

In providing this product, Bareksa collaborates with an independent investment advisor, Jagartha Advisors. The advisors provide financial advisory services whenever needed.

It is proven that what Bareksa did was a success. It was stated that Bareksa Prioritas recorded a 10x growth in managed funds in the last three years until June 2022. The number of HNWI investors who joined also tripled in the last three years. June 2019-June 2022.

According to Bareksa Prioritas Director Ricky Rachmatulloh, this significant growth indicates the need for HNWI customers to access wealth management digitally, especially during the pandemic which limits investors from interacting face-to-face with advisors. In addition, the majority of investors are now increasingly educated in using digital platforms and this advisory assistance helps investors obtain information and choose products.

The market share of HNWI is directly proportional to Indonesia's economic growth which continues to be maintained. Indonesia's GDP per capita level managed to increase by 8,6% to $4.349,5 or equivalent to Rp62,2 million in 2021 compared to the previous year.

Besides Bareksa, Moduit has recently taken a similar step through the launch of Moduit Beyond, which targets HNWI customers with a minimum managed fund of IDR 1 billion.

Moduit Beyond consists of three categories based on the amount of investment value and the type of service obtained by the customer. The three categories are Beyond Prestige with investment funds of Rp1-5 billion, Beyond Eminence with investment funds of Rp5-10 billion, and Beyond Insignia with investment funds above Rp10 billion.

At Moduit itself, the majority of customers ExistingThe owner is experienced and is considered to have a desire to invest more seriously. Based on Moduit data, the average amount of investment funds on the Moduit platform for customers assisted by advisors reaches IDR 1,2 billion. Meanwhile, the average investment amount for customers who invest independently is IDR 50 million.

More Coverage:

Meanwhile, Moduit currently has more than 30 thousand customers. Of this amount, around 10% of them have investment funds in Moduit of more than IDR 1 billion. However, in terms of nominal investment, these customers contribute about 90% of the total investment in Moduit.

Moduit Beyond offers benefits starting from ppersonal advisor, curated & high-performance product, first access to new services and products, market reports and analysis, dedicated call center, lounge, and others.

So far, the wealthy customers are usually managed by banks through banking services wealth management. Its service focus is not only on developing existing assets, but also protecting them with insurance. This business always shows a positive trend, it can be seen from one of the indicators is the number of mutual fund investors. With a more disruptive approach, this opportunity is also being targeted by players fintech, one of which is Bareksa and Bibit.

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