p–ISSN: 2723 – 6609 e-ISSN: 2745-5254
Vol. 5, No. 11, November 2024 http://jist.publikasiindonesia.id/
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5222
Increasing Revenue with New Source Engine Community-
based (hyperlocal) business in the Open Banking era
Jadid Pratama Yuga Nugraha1*, Erma Suryani2
Institut Teknologi Sepuluh Nopember, Indonesia
Email: [email protected]
*Correspondence
ABSTRACT
Keywords: hyperlocal
business, open banking,
Porter's five forces,
strategic group analysis,
value chain analysis.
The high level of competition in the banking and non-bank
industries makes banks have to continue to adapt in
business to provide products and services to their
consumers. Although the company recorded an encouraging
performance and was able to maintain its position as a
market leader, Bank BRI needed a business strategy to
remain leading in revenue growth. This research aims to
design a business dominance strategy and market share in
the banking industry at BRI banks through a Dual Business
approach that integrates ecosystem services (Hyperlocal
Ecosystem) to increase competitiveness. The method used
in this case study is qualitative descriptive with observation
and in-depth interviews. The researcher conducted internal
and external influence analysis using Porter's Five Forces
Approach, Strategic Group Analysis, Value Chain Analysis,
and Building Block Analysis to determine the positioning.
In this study, the presence of a community-based business
framework (hyperlocal business) is expected to add value-
added banking services and increase revenue for BRI banks
to be able to compete in the open banking industry. Based
on the analysis of building blocks, the competitive strategy
carried out by Bank BRI is differentiation where Bank BRI
has the advantage of customer base as the main raw
material in the community map, product quality, and
innovation that cannot be imitated by its competitors.
Introduction
The digital era encourages the development of technology in various industries,
including the banking industry, to be able to improve the quality of its services and
adapt to consumer needs. It is not enough to do the above. Every manager needs a
design. You can't grow without a business design (Kellett, Thompson, Strickland, &
Gamble, 2009). Digital technology in the banking industry is a determinant of the
competitiveness of banking in this digital era. The adoption of technological
Vol. 5, No. 11, November 2024 http://jist.publikasiindonesia.id/
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5222
Increasing Revenue with New Source Engine Community-
based (hyperlocal) business in the Open Banking era
Jadid Pratama Yuga Nugraha1*, Erma Suryani2
Institut Teknologi Sepuluh Nopember, Indonesia
Email: [email protected]
*Correspondence
ABSTRACT
Keywords: hyperlocal
business, open banking,
Porter's five forces,
strategic group analysis,
value chain analysis.
The high level of competition in the banking and non-bank
industries makes banks have to continue to adapt in
business to provide products and services to their
consumers. Although the company recorded an encouraging
performance and was able to maintain its position as a
market leader, Bank BRI needed a business strategy to
remain leading in revenue growth. This research aims to
design a business dominance strategy and market share in
the banking industry at BRI banks through a Dual Business
approach that integrates ecosystem services (Hyperlocal
Ecosystem) to increase competitiveness. The method used
in this case study is qualitative descriptive with observation
and in-depth interviews. The researcher conducted internal
and external influence analysis using Porter's Five Forces
Approach, Strategic Group Analysis, Value Chain Analysis,
and Building Block Analysis to determine the positioning.
In this study, the presence of a community-based business
framework (hyperlocal business) is expected to add value-
added banking services and increase revenue for BRI banks
to be able to compete in the open banking industry. Based
on the analysis of building blocks, the competitive strategy
carried out by Bank BRI is differentiation where Bank BRI
has the advantage of customer base as the main raw
material in the community map, product quality, and
innovation that cannot be imitated by its competitors.
Introduction
The digital era encourages the development of technology in various industries,
including the banking industry, to be able to improve the quality of its services and
adapt to consumer needs. It is not enough to do the above. Every manager needs a
design. You can't grow without a business design (Kellett, Thompson, Strickland, &
Gamble, 2009). Digital technology in the banking industry is a determinant of the
competitiveness of banking in this digital era. The adoption of technological
Increasing Revenue with New Source Engine Community-based (hyperlocal) business in the
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5223
developments can not only support the banking industry to be more effective and
efficient but also can support companies in improving the quality of services to their
consumers by making it easier for banks to provide products and better analyze the
needs of their consumers.
According to (Teece, 2010), business model innovation generates an average of 4
times more revenue than product or process innovation. Banking business models are
developing a lot today, the trend of banking products and services has shifted with the
presence of the provision of Digital-based platforms. In the financial sector, technology-
based products known as financial technology (fintech) have emerged. Digital
innovations in finance and banking have given rise to new products that threaten the
presence of conventional banking. Banks are required to adapt to technology so as not
to lose out on the competition. (Radnor, 2010). So it is undeniable that there will be
more and more digital ecosystems that answer the daily needs of people in Indonesia.
This makes a change in the behavior of consumers who want to get financial services
without having to come or use a banking platform. Electronic banking opens a new
paradigm, new structure, and new strategy for retail banks, where banks face new
opportunities and challenges. (Ramdani & Kamal, 2023).
The banking industry is currently faced with a very high competitive map, based
on OJK statistics in July 2021 the number of banks in Indonesia is 107 commercial
banks. Commercial bank revenue in Indonesia in 2021 was dominated by revenue from
conventional credit distribution of 63%. The policy of lowering the benchmark interest
rate of Bank Indonesia BI-7 Day Reverse Repo Rate (BI7DRR) will have an impact on
the financial performance of banks in Indonesia, which have been relying on income
through interest margin credit distribution (Anggadini, Wahab, Soegoto, & Yunanto,
2023). In addition, the presence of fintech and Digital Banks based on OJK data in 2020
of 364 is also a threat to the sustainability of the banking business. The presence of
fintech as a digital attacker brings many changes by offering speed, convenience, and
low cost. The current focus of banking is how banks can maintain and control low-cost
funds/CASA Current Account Saving Account (CASA) and increase Fee Based Income
(FBI) as a source of banking income. (Kho, Rumanti, Sudibjo, & Nanda, 2021) .
MSMEs also have a position as the main player in economic activities in a wide
scope in various sectors and are often said to be developers of local economic activities
and community empowerment as creators of new markets and sources of innovation.
Digital adoption for the MSME segment is also growing rapidly, with recorded growth
in digital adoption in the MSME segment growing by 111% from 2017 to 2020 (from 4
million total MSMEs using digital for business in 2017, to 8.4 million in 2020). The
Covid-19 pandemic is one of the enablers of accelerating the adoption of digital
technology in the MSME segment, but on the other hand, the Covid-19 pandemic is also
a blow to Banking where customers in the affected MSME segment have experienced a
decline in business, which has an impact on the deterioration of credit quality (Haque &
Yamoah, 2023). This means that reserves caused by the deterioration of credit quality
will cause a decrease in banking yields, including Bank BRI.
Research Objectives of this study:
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5223
developments can not only support the banking industry to be more effective and
efficient but also can support companies in improving the quality of services to their
consumers by making it easier for banks to provide products and better analyze the
needs of their consumers.
According to (Teece, 2010), business model innovation generates an average of 4
times more revenue than product or process innovation. Banking business models are
developing a lot today, the trend of banking products and services has shifted with the
presence of the provision of Digital-based platforms. In the financial sector, technology-
based products known as financial technology (fintech) have emerged. Digital
innovations in finance and banking have given rise to new products that threaten the
presence of conventional banking. Banks are required to adapt to technology so as not
to lose out on the competition. (Radnor, 2010). So it is undeniable that there will be
more and more digital ecosystems that answer the daily needs of people in Indonesia.
This makes a change in the behavior of consumers who want to get financial services
without having to come or use a banking platform. Electronic banking opens a new
paradigm, new structure, and new strategy for retail banks, where banks face new
opportunities and challenges. (Ramdani & Kamal, 2023).
The banking industry is currently faced with a very high competitive map, based
on OJK statistics in July 2021 the number of banks in Indonesia is 107 commercial
banks. Commercial bank revenue in Indonesia in 2021 was dominated by revenue from
conventional credit distribution of 63%. The policy of lowering the benchmark interest
rate of Bank Indonesia BI-7 Day Reverse Repo Rate (BI7DRR) will have an impact on
the financial performance of banks in Indonesia, which have been relying on income
through interest margin credit distribution (Anggadini, Wahab, Soegoto, & Yunanto,
2023). In addition, the presence of fintech and Digital Banks based on OJK data in 2020
of 364 is also a threat to the sustainability of the banking business. The presence of
fintech as a digital attacker brings many changes by offering speed, convenience, and
low cost. The current focus of banking is how banks can maintain and control low-cost
funds/CASA Current Account Saving Account (CASA) and increase Fee Based Income
(FBI) as a source of banking income. (Kho, Rumanti, Sudibjo, & Nanda, 2021) .
MSMEs also have a position as the main player in economic activities in a wide
scope in various sectors and are often said to be developers of local economic activities
and community empowerment as creators of new markets and sources of innovation.
Digital adoption for the MSME segment is also growing rapidly, with recorded growth
in digital adoption in the MSME segment growing by 111% from 2017 to 2020 (from 4
million total MSMEs using digital for business in 2017, to 8.4 million in 2020). The
Covid-19 pandemic is one of the enablers of accelerating the adoption of digital
technology in the MSME segment, but on the other hand, the Covid-19 pandemic is also
a blow to Banking where customers in the affected MSME segment have experienced a
decline in business, which has an impact on the deterioration of credit quality (Haque &
Yamoah, 2023). This means that reserves caused by the deterioration of credit quality
will cause a decrease in banking yields, including Bank BRI.
Research Objectives of this study:
Jadid Pratama Yuga Nugraha, Erma Suryani
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5224
1. Producing a community-based business framework (hyperlocal business) as a new
source business engine business in addition to BRI's business as usual as an effort to
continuously improve BRI's revenue yield.
2. Measuring the contribution of hyperlocal ecosystem initiatives to Bank BRI's
revenue yield.
Method
This study uses a qualitative approach to present the research results from the
information obtained during the research through interviews with in-depth interviews
and other supporting data. Informants are parties who have responsibility for Bank
BRI's business, especially in the micro sector. Qualitative research focuses on human
elements, objects, institutions, and the relationships between these elements.
Researchers strive to be able to obtain and analyze or process as much data as possible
in systematic ways by observing, collecting data, and analyzing information. (Moleong,
2007).
The subject of this study is BRI's open banking business, while the object of this
study is BRI's micro business strategy, especially in the field of micro market-based
management, which will be analyzed including external and internal analysis. The
external analysis uses the five-force approach and strategic group mapping. The internal
analysis uses a value chain analysis approach and building blocks for competitive
advantage consisting of efficiency, quality, innovation, and customer responsiveness.
Based on each external and internal factor, an analysis will be carried out to formulate
an alternative competitive strategy for community-based ecosystem businesses at Bank
BRI.
Types and Data Sources
The types and sources of data used in this study include the following:
1. Primary Data
(Cooper & Schindler, 2014) Stated that raw data that does not have an
interpretation of an opinion or position is called primary data. Primary data is obtained
through observation, measurement, and direct recording of objects. Primary data are
sourced from semi-structured interviews. Semi-structured interviews with open-ended
questions but there are interview guidelines that are used as a benchmark in the plot,
order, and use of words. Interviews are conducted openly in the sense that the informant
can answer or not, and the interview questions can develop.
2. Secondary Data
Secondary data is data that has been further processed in the form of tables,
graphs, diagrams, and so on. (Apuke, 2017). Secondary data in this study are sourced
from the company's annual report, company financial statements, publication
documents, performance reports, journals, books, company websites, regulatory
provisions, and other data that still have relevance to the research topic.
Data Collection Methods and Methods
The data collection methods that will be used are in-depth interviews, literature
studies, and documentation.
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5224
1. Producing a community-based business framework (hyperlocal business) as a new
source business engine business in addition to BRI's business as usual as an effort to
continuously improve BRI's revenue yield.
2. Measuring the contribution of hyperlocal ecosystem initiatives to Bank BRI's
revenue yield.
Method
This study uses a qualitative approach to present the research results from the
information obtained during the research through interviews with in-depth interviews
and other supporting data. Informants are parties who have responsibility for Bank
BRI's business, especially in the micro sector. Qualitative research focuses on human
elements, objects, institutions, and the relationships between these elements.
Researchers strive to be able to obtain and analyze or process as much data as possible
in systematic ways by observing, collecting data, and analyzing information. (Moleong,
2007).
The subject of this study is BRI's open banking business, while the object of this
study is BRI's micro business strategy, especially in the field of micro market-based
management, which will be analyzed including external and internal analysis. The
external analysis uses the five-force approach and strategic group mapping. The internal
analysis uses a value chain analysis approach and building blocks for competitive
advantage consisting of efficiency, quality, innovation, and customer responsiveness.
Based on each external and internal factor, an analysis will be carried out to formulate
an alternative competitive strategy for community-based ecosystem businesses at Bank
BRI.
Types and Data Sources
The types and sources of data used in this study include the following:
1. Primary Data
(Cooper & Schindler, 2014) Stated that raw data that does not have an
interpretation of an opinion or position is called primary data. Primary data is obtained
through observation, measurement, and direct recording of objects. Primary data are
sourced from semi-structured interviews. Semi-structured interviews with open-ended
questions but there are interview guidelines that are used as a benchmark in the plot,
order, and use of words. Interviews are conducted openly in the sense that the informant
can answer or not, and the interview questions can develop.
2. Secondary Data
Secondary data is data that has been further processed in the form of tables,
graphs, diagrams, and so on. (Apuke, 2017). Secondary data in this study are sourced
from the company's annual report, company financial statements, publication
documents, performance reports, journals, books, company websites, regulatory
provisions, and other data that still have relevance to the research topic.
Data Collection Methods and Methods
The data collection methods that will be used are in-depth interviews, literature
studies, and documentation.
Increasing Revenue with New Source Engine Community-based (hyperlocal) business in the
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5225
Results and Discussion
Definition of Hyperlocal Ecosystem and Business Model
The hyperlocal ecosystem is a concept that refers to a network of businesses,
services, groups, and individuals within a very specific geographical area through the
approach of a community. These ecosystems are characterized by their focus on local
interactions, resources, and needs. The goal is to drive economic growth, community
development, and sustainability by leveraging local resources, talents, and expertise.
A hyperlocal business model, also known as a micro market focuses on the needs
of local consumers geographically, so that it can fill the gap between demand and
supply with an efficient supply chain or vendor and meet consumer demand by selling
what they need. Technically, a hyperlocal business model is an online business model
that serves customer needs on demand, which is fulfilled through a local ecosystem.
(Raskind et al., 2019).
In other words, customers use a platform or service aggregator that obtains the
requested product locally and delivers it to a location according to their respective
geographies. Grocery shopping, food delivery, healthcare, and many other services have
been packaged in one hyperlocal e-commerce platform. The sales proposition of the
hyperlocal business model can deliver quality products and services very quickly. The
use of digital platforms makes it easy for customers to monitor the entire process and
track shipments in real-time. (David, 2011).
MSMEs as Hyperlocal Ecosystem Actors
MSMEs (Micro, Small, and Medium Enterprises) play an important role in
building a Hyperlocal Ecosystem. In the context of business, hyperlocal refers to
businesses that operate at the local level and are very close to customers and the
surrounding environment, so they have an important role in economic stability in
Indonesia. According to the Central Statistics Agency, MSME business actors in
Indonesia in 2023 will reach 66 million with a Gross Domestic Income (GDP)
contribution of 61% with a nominal value of IDR 9,580 trillion and can absorb around
117 million workers (97%) of the total workforce.
In Indonesia, the criteria for MSMEs are determined based on the level of
business capital. Based on the Regulation of the Minister of Cooperatives and SMEs
Number 2 of 2021, MSMEs are divided into three categories based on the size of their
business capital, namely:
1. Micro: Micro Business is a productive business owned by an individual and/or an
individual business entity that meets the criteria for a micro business with an asset
capital of up to IDR 50,000,000 (fifty million Rupiah), without taking into account
the land and building where the business is located.
2. Small: A small business is a productive economic business that is able to stand on its
own, and can be carried out by individuals or business entities that meet the criteria
for small businesses with an asset capital of up to Rp 500,000,000 (five hundred
million Rupiah), without taking into account the land and buildings where the
business is located.
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5225
Results and Discussion
Definition of Hyperlocal Ecosystem and Business Model
The hyperlocal ecosystem is a concept that refers to a network of businesses,
services, groups, and individuals within a very specific geographical area through the
approach of a community. These ecosystems are characterized by their focus on local
interactions, resources, and needs. The goal is to drive economic growth, community
development, and sustainability by leveraging local resources, talents, and expertise.
A hyperlocal business model, also known as a micro market focuses on the needs
of local consumers geographically, so that it can fill the gap between demand and
supply with an efficient supply chain or vendor and meet consumer demand by selling
what they need. Technically, a hyperlocal business model is an online business model
that serves customer needs on demand, which is fulfilled through a local ecosystem.
(Raskind et al., 2019).
In other words, customers use a platform or service aggregator that obtains the
requested product locally and delivers it to a location according to their respective
geographies. Grocery shopping, food delivery, healthcare, and many other services have
been packaged in one hyperlocal e-commerce platform. The sales proposition of the
hyperlocal business model can deliver quality products and services very quickly. The
use of digital platforms makes it easy for customers to monitor the entire process and
track shipments in real-time. (David, 2011).
MSMEs as Hyperlocal Ecosystem Actors
MSMEs (Micro, Small, and Medium Enterprises) play an important role in
building a Hyperlocal Ecosystem. In the context of business, hyperlocal refers to
businesses that operate at the local level and are very close to customers and the
surrounding environment, so they have an important role in economic stability in
Indonesia. According to the Central Statistics Agency, MSME business actors in
Indonesia in 2023 will reach 66 million with a Gross Domestic Income (GDP)
contribution of 61% with a nominal value of IDR 9,580 trillion and can absorb around
117 million workers (97%) of the total workforce.
In Indonesia, the criteria for MSMEs are determined based on the level of
business capital. Based on the Regulation of the Minister of Cooperatives and SMEs
Number 2 of 2021, MSMEs are divided into three categories based on the size of their
business capital, namely:
1. Micro: Micro Business is a productive business owned by an individual and/or an
individual business entity that meets the criteria for a micro business with an asset
capital of up to IDR 50,000,000 (fifty million Rupiah), without taking into account
the land and building where the business is located.
2. Small: A small business is a productive economic business that is able to stand on its
own, and can be carried out by individuals or business entities that meet the criteria
for small businesses with an asset capital of up to Rp 500,000,000 (five hundred
million Rupiah), without taking into account the land and buildings where the
business is located.
Jadid Pratama Yuga Nugraha, Erma Suryani
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5226
3. Medium: Medium Business is a business with a business capital of more than Rp
500,000,000 (five hundred million Rupiah) to Rp 10,000,000,000 (ten billion
Rupiah), without taking into account the land and building where the business is
located.
Then, MSMEs can become key actors in the Hyperlocal Ecosystem, because:
1. Connection with Local Communities: MSMEs are often more connected to local
communities than large corporations. They understand the needs and preferences of
local customers better and can tailor their products and services accordingly.
2. Local Economic Empowerment: By supporting MSMEs, the local economy is
strengthened. MSMEs often employ workers from the local community, thereby
increasing employment opportunities and purchasing power in the region.
3. Product and Service Innovation: MSMEs tend to be more flexible and can respond
quickly to changing market needs. They can test new products and services locally
before expanding into larger markets.
4. Improving Local Sustainability: MSMEs that operate locally tend to be more
concerned about the sustainability of the environment and local communities. They
can choose to use local raw materials, support local producers, and practice
environmentally friendly business practices.
5. Collaboration with Others in the Ecosystem: MSMEs can work closely with local
governments, non-profit organizations, and other businesses in the hyperlocal
ecosystem to build mutually beneficial partnerships. For example, they can join a
local entrepreneurship training program or organize a joint promotional event.
6. Encourages Creativity and Entrepreneurship: MSMEs are often a place for local
entrepreneurs to develop new ideas and create jobs for the local community. Support
for MSMEs can encourage the growth of creativity and entrepreneurship at the local
level.
Thus, MSMEs play a very important role in shaping a strong and sustainable
Hyperlocal Ecosystem. Appropriate support for MSMEs can help boost the local
economy, strengthen communities, and encourage innovation at a very local level.
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5226
3. Medium: Medium Business is a business with a business capital of more than Rp
500,000,000 (five hundred million Rupiah) to Rp 10,000,000,000 (ten billion
Rupiah), without taking into account the land and building where the business is
located.
Then, MSMEs can become key actors in the Hyperlocal Ecosystem, because:
1. Connection with Local Communities: MSMEs are often more connected to local
communities than large corporations. They understand the needs and preferences of
local customers better and can tailor their products and services accordingly.
2. Local Economic Empowerment: By supporting MSMEs, the local economy is
strengthened. MSMEs often employ workers from the local community, thereby
increasing employment opportunities and purchasing power in the region.
3. Product and Service Innovation: MSMEs tend to be more flexible and can respond
quickly to changing market needs. They can test new products and services locally
before expanding into larger markets.
4. Improving Local Sustainability: MSMEs that operate locally tend to be more
concerned about the sustainability of the environment and local communities. They
can choose to use local raw materials, support local producers, and practice
environmentally friendly business practices.
5. Collaboration with Others in the Ecosystem: MSMEs can work closely with local
governments, non-profit organizations, and other businesses in the hyperlocal
ecosystem to build mutually beneficial partnerships. For example, they can join a
local entrepreneurship training program or organize a joint promotional event.
6. Encourages Creativity and Entrepreneurship: MSMEs are often a place for local
entrepreneurs to develop new ideas and create jobs for the local community. Support
for MSMEs can encourage the growth of creativity and entrepreneurship at the local
level.
Thus, MSMEs play a very important role in shaping a strong and sustainable
Hyperlocal Ecosystem. Appropriate support for MSMEs can help boost the local
economy, strengthen communities, and encourage innovation at a very local level.
Increasing Revenue with New Source Engine Community-based (hyperlocal) business in the
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5227
Figure 1
Micro Business Flow Diagram
Characteristics of MSMEs Based on Market Strategy
The characteristics of MSMEs based on sales strategies can vary depending on
various factors, including the industry, target market, and business model adopted.
According to Hadion (2020) in his book entitled "E-commerce: Concepts and
Applications", there are seven basic types of e-commerce with different characteristics,
which are as follows:
1. Business-to-business (B2B)
B2B is e-commerce that includes all transactions, both electronic transactions of
goods and services carried out between companies. This business process is the largest
e-commerce because consumers are a group that runs a business, such as distributors,
resellers, and others.
2. Business-to-consumer (B2C)
B2C is a business process that sells products or services to individuals with end
consumers. Businesses with a B2C model are usually operated by traditional retail trade
and then managed with the help of websites, as well as other online stores.
3. Consumer-to-consumer (C2C)
C2C is a type of business where e-commerce transactions are carried out between
individuals and other individuals. This type of business is usually sold by consumers to
other consumers through e-commerce platforms, such as Tokopedia, Bukalapak, and
others
4. Consumer-to-business (C2B)
C2B is a type of business in which e-commerce transactions are carried out by
consumers or individuals offering products or services to businesses. For example,
freelancers who offer services to companies.
5. Business-to-administration (B2A)
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5227
Figure 1
Micro Business Flow Diagram
Characteristics of MSMEs Based on Market Strategy
The characteristics of MSMEs based on sales strategies can vary depending on
various factors, including the industry, target market, and business model adopted.
According to Hadion (2020) in his book entitled "E-commerce: Concepts and
Applications", there are seven basic types of e-commerce with different characteristics,
which are as follows:
1. Business-to-business (B2B)
B2B is e-commerce that includes all transactions, both electronic transactions of
goods and services carried out between companies. This business process is the largest
e-commerce because consumers are a group that runs a business, such as distributors,
resellers, and others.
2. Business-to-consumer (B2C)
B2C is a business process that sells products or services to individuals with end
consumers. Businesses with a B2C model are usually operated by traditional retail trade
and then managed with the help of websites, as well as other online stores.
3. Consumer-to-consumer (C2C)
C2C is a type of business where e-commerce transactions are carried out between
individuals and other individuals. This type of business is usually sold by consumers to
other consumers through e-commerce platforms, such as Tokopedia, Bukalapak, and
others
4. Consumer-to-business (C2B)
C2B is a type of business in which e-commerce transactions are carried out by
consumers or individuals offering products or services to businesses. For example,
freelancers who offer services to companies.
5. Business-to-administration (B2A)
Jadid Pratama Yuga Nugraha, Erma Suryani
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5228
B2A is a digital business that includes all digital transactions carried out online
between government agencies and public administration.
6. Consumer-to-administration (C2A)
C2A is a digital business that includes all electronic-based transactions carried out
by individuals with public administration services, such as business models that offer
payments in the fields of education, taxes, health insurance payments, ticket payments,
and other programs.
7. Online-to-offline (O20)
O2O is a type of digital business that can attract customers from online channels
to physical stores, so this business model can integrate e-commerce and physical retail
shopping.
The object of research in this study is a community-based business model
(Hyperlocal Ecosystem) with MSME segment actors because BRI Bank is a bank with a
customer base of more than 20 million MSME segment customers. Therefore, the
control of the ecosystem in the micro - ultra micro-segment needs to be strengthened
which aims to assemble the ecosystem from within Bank BRI customers to connect and
transact between Bank BRI customers. (Rietjens, 2014).
Ecosystem Centric Approach as One of the Mastery Strategies in Micro
Ecosystems
Bank BRI's current vision as The Most Valuable Banking Group in Southeast
Asia & Champion of Financial Inclusion in 2025, especially in the micro segment by
increase growth and expand its business reach through expanding market share and
developing a new business ecosystem by prioritizing Ecosystem Centric. The
ecosystem-centric approach is a strategy that puts the ecosystem at the center of
attention in efforts to master it. In the context of micro-ecosystems, this approach
focuses on a deep understanding of the relationships between elements in the ecosystem
and how these interactions can be utilized to achieve specific goals, such as accelerating
the mastery of rural savings-based CASA sourced from territorial ecosystems,
commodities, and transactions which are grouped as follows:
Table 2
Ecosystem Type
Territorial
Ecosystem
Commodity
Ecosystem
Transaction Ecosystem
1. Business
Cluster
2. Community/
Communal
3. Residential
Area
1. Manufacturer
2. Collector
3. Expedition
1. Traditional Market
2. Sarpras Providers
3. Culinary Center
Source: Personally Processed
Identifying Ecosystem Potential Through Micro Payment Ecosystem
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5228
B2A is a digital business that includes all digital transactions carried out online
between government agencies and public administration.
6. Consumer-to-administration (C2A)
C2A is a digital business that includes all electronic-based transactions carried out
by individuals with public administration services, such as business models that offer
payments in the fields of education, taxes, health insurance payments, ticket payments,
and other programs.
7. Online-to-offline (O20)
O2O is a type of digital business that can attract customers from online channels
to physical stores, so this business model can integrate e-commerce and physical retail
shopping.
The object of research in this study is a community-based business model
(Hyperlocal Ecosystem) with MSME segment actors because BRI Bank is a bank with a
customer base of more than 20 million MSME segment customers. Therefore, the
control of the ecosystem in the micro - ultra micro-segment needs to be strengthened
which aims to assemble the ecosystem from within Bank BRI customers to connect and
transact between Bank BRI customers. (Rietjens, 2014).
Ecosystem Centric Approach as One of the Mastery Strategies in Micro
Ecosystems
Bank BRI's current vision as The Most Valuable Banking Group in Southeast
Asia & Champion of Financial Inclusion in 2025, especially in the micro segment by
increase growth and expand its business reach through expanding market share and
developing a new business ecosystem by prioritizing Ecosystem Centric. The
ecosystem-centric approach is a strategy that puts the ecosystem at the center of
attention in efforts to master it. In the context of micro-ecosystems, this approach
focuses on a deep understanding of the relationships between elements in the ecosystem
and how these interactions can be utilized to achieve specific goals, such as accelerating
the mastery of rural savings-based CASA sourced from territorial ecosystems,
commodities, and transactions which are grouped as follows:
Table 2
Ecosystem Type
Territorial
Ecosystem
Commodity
Ecosystem
Transaction Ecosystem
1. Business
Cluster
2. Community/
Communal
3. Residential
Area
1. Manufacturer
2. Collector
3. Expedition
1. Traditional Market
2. Sarpras Providers
3. Culinary Center
Source: Personally Processed
Identifying Ecosystem Potential Through Micro Payment Ecosystem
Increasing Revenue with New Source Engine Community-based (hyperlocal) business in the
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5229
Micro Payment Ecosystem is a system that allows small transactions to occur
electronically, in the context of digital payments. The integration of literacy and
inclusion activities into this ecosystem can produce a strong micro-business ecosystem.
At Bank BRI, the role of the Mantri is very important in supporting the development of
micro-businesses, especially in the context of economic empowerment of rural
communities or remote areas. As an embedded entity, the role of Mantri in the micro
business ecosystem becomes deeper than just an individual function. The following are
the Micro Ecosystems owned by Bank BRI:
Figure 2
Bank BRI Micro Ecosystem
Source: Ecosystem Mastery Guidance
Hyper Collaboration emphasizes collaboration that is more than just ordinary
cooperation, where all parties are actively involved in sharing ideas, resources, and
responsibilities to achieve a common goal.
Sales and Implementation
Sales and implementation are two important stages in the sales and use cycle of a
product. Sales includes the process of persuasion and transactions, while
implementation focuses on implementing a product or service within a customer
environment.
Both must be elaborated and done effectively to ensure overall success in
providing solutions to customers.
After Sales and Ecosystem Engagement
Sales and Ecosystem Engagement focuses on nurturing a positive relationship
with customers after a product or service has been sold. After Sales includes all
activities that are carried out after a product or service is sold to a customer.
Additionally, it aims to ensure that customers are satisfied with their purchases, build
trust, and maintain customer loyalty. Ecosystem Engagement encompasses how
companies engage with the broader ecosystem around them, including customers and
related communities. Ecosystem engagement aims to create added value for customers,
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5229
Micro Payment Ecosystem is a system that allows small transactions to occur
electronically, in the context of digital payments. The integration of literacy and
inclusion activities into this ecosystem can produce a strong micro-business ecosystem.
At Bank BRI, the role of the Mantri is very important in supporting the development of
micro-businesses, especially in the context of economic empowerment of rural
communities or remote areas. As an embedded entity, the role of Mantri in the micro
business ecosystem becomes deeper than just an individual function. The following are
the Micro Ecosystems owned by Bank BRI:
Figure 2
Bank BRI Micro Ecosystem
Source: Ecosystem Mastery Guidance
Hyper Collaboration emphasizes collaboration that is more than just ordinary
cooperation, where all parties are actively involved in sharing ideas, resources, and
responsibilities to achieve a common goal.
Sales and Implementation
Sales and implementation are two important stages in the sales and use cycle of a
product. Sales includes the process of persuasion and transactions, while
implementation focuses on implementing a product or service within a customer
environment.
Both must be elaborated and done effectively to ensure overall success in
providing solutions to customers.
After Sales and Ecosystem Engagement
Sales and Ecosystem Engagement focuses on nurturing a positive relationship
with customers after a product or service has been sold. After Sales includes all
activities that are carried out after a product or service is sold to a customer.
Additionally, it aims to ensure that customers are satisfied with their purchases, build
trust, and maintain customer loyalty. Ecosystem Engagement encompasses how
companies engage with the broader ecosystem around them, including customers and
related communities. Ecosystem engagement aims to create added value for customers,
Jadid Pratama Yuga Nugraha, Erma Suryani
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5230
expand market reach, and strengthen a company's position in a specific industry or
market.
Both of these concepts are critical to building sustainable relationships with
customers and business ecosystems. By focusing on after-sales and ecosystem
engagement, companies can create long-term value and differentiate themselves from
their competitors.
BRI Ecosystem Integration
Ecosystem integration begins with business clusters or fostered villages or UMI
agent partners, where they are given an empowerment or financial literacy education.
To make this easier, BRI has prepared various products to make it easier to educate
customers on financial literacy, as illustrated in the following diagram:
Figure 3
BRI Micro Ecosystem Integration
Source: Ecosystem Mastery Guidance
The diagram illustrates that the strategies used in this economic and business
context are to identify or create new sources of economic growth or company growth.
The ecosystem which includes brilliant villages, the cluster of my life, Umi agent
partners, pawnshops, and PNM are given MSME empowerment programs with the
Linkumkm program. Linkumkm is a digital platform provided by Bank BRI to support
Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. Through this program,
MSME actors can access various services and information to develop their businesses,
such as:
1. Financing: One of the financing offered for MSMEs is with Kupedes loans (People's
Business Credit) because the Kupedes application process is relatively simple and
fast, making it easier for MSME actors to get access to flexible financing and
financing because of the choice of tenor and loan amount that is tailored to the needs
and capabilities of MSMEs.
2. Marketing: The means owned by Bank BRI to promote MSME products or services
through digital platforms, one of which is Localoka. Localoka is an online platform
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5230
expand market reach, and strengthen a company's position in a specific industry or
market.
Both of these concepts are critical to building sustainable relationships with
customers and business ecosystems. By focusing on after-sales and ecosystem
engagement, companies can create long-term value and differentiate themselves from
their competitors.
BRI Ecosystem Integration
Ecosystem integration begins with business clusters or fostered villages or UMI
agent partners, where they are given an empowerment or financial literacy education.
To make this easier, BRI has prepared various products to make it easier to educate
customers on financial literacy, as illustrated in the following diagram:
Figure 3
BRI Micro Ecosystem Integration
Source: Ecosystem Mastery Guidance
The diagram illustrates that the strategies used in this economic and business
context are to identify or create new sources of economic growth or company growth.
The ecosystem which includes brilliant villages, the cluster of my life, Umi agent
partners, pawnshops, and PNM are given MSME empowerment programs with the
Linkumkm program. Linkumkm is a digital platform provided by Bank BRI to support
Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. Through this program,
MSME actors can access various services and information to develop their businesses,
such as:
1. Financing: One of the financing offered for MSMEs is with Kupedes loans (People's
Business Credit) because the Kupedes application process is relatively simple and
fast, making it easier for MSME actors to get access to flexible financing and
financing because of the choice of tenor and loan amount that is tailored to the needs
and capabilities of MSMEs.
2. Marketing: The means owned by Bank BRI to promote MSME products or services
through digital platforms, one of which is Localoka. Localoka is an online platform
Increasing Revenue with New Source Engine Community-based (hyperlocal) business in the
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5231
that facilitates local MSMEs to market their products digitally to consumers. Local
MSMEs can market their products online through the Localoka platform, allowing
them to reach a wider market within and outside their region. Then, local MSMEs
get the opportunity to increase their visibility among consumers looking for local
products.
The role of integrating this ecosystem will become a New Source of Growth for
Bank BRI and produce a community-based business framework (hyperlocal business) as
a new source engine business so that BRI's business can grow and be sustainable so that
it can increase BRI's revenue.
Business Model Canvas Hyperlocal Ecosystem Prototype
From the results of the study carried out, it can be implemented in the form of an
ecosystem-based business model prototype at Bank BRI. The prototype is presented in 4
frames consisting of 3 building blocks (Customer Segments, Customer Relationship,
and Channel, Next is the infrastructure frame consisting of 3 building blocks (Key
Activities, Key Resources, and Key Partnership), the offered frame consists of building
blocks value proposition and the last is the finance frame consisting of 2 building blocks
(cost structure and revenue streams) which are depicted in the following diagram
(Figure 4)
Figure 4
Business Model Canvas Hyperlocal Ecosystem
Source: Personal Processed
Customer Segments
In the context of the Hyperlocal Ecosystem, Customer Segments will
be very focused on the characteristics and needs of the local community
itself, as MSMEs (Micro, Small, and Medium Enterprises) can be a very
significant customer segment. Not only do they become customers, but they
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5231
that facilitates local MSMEs to market their products digitally to consumers. Local
MSMEs can market their products online through the Localoka platform, allowing
them to reach a wider market within and outside their region. Then, local MSMEs
get the opportunity to increase their visibility among consumers looking for local
products.
The role of integrating this ecosystem will become a New Source of Growth for
Bank BRI and produce a community-based business framework (hyperlocal business) as
a new source engine business so that BRI's business can grow and be sustainable so that
it can increase BRI's revenue.
Business Model Canvas Hyperlocal Ecosystem Prototype
From the results of the study carried out, it can be implemented in the form of an
ecosystem-based business model prototype at Bank BRI. The prototype is presented in 4
frames consisting of 3 building blocks (Customer Segments, Customer Relationship,
and Channel, Next is the infrastructure frame consisting of 3 building blocks (Key
Activities, Key Resources, and Key Partnership), the offered frame consists of building
blocks value proposition and the last is the finance frame consisting of 2 building blocks
(cost structure and revenue streams) which are depicted in the following diagram
(Figure 4)
Figure 4
Business Model Canvas Hyperlocal Ecosystem
Source: Personal Processed
Customer Segments
In the context of the Hyperlocal Ecosystem, Customer Segments will
be very focused on the characteristics and needs of the local community
itself, as MSMEs (Micro, Small, and Medium Enterprises) can be a very
significant customer segment. Not only do they become customers, but they
Jadid Pratama Yuga Nugraha, Erma Suryani
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5232
may also be part of a local business network. Here are some examples of
MSME customer segmentation in a hyperlocal ecosystem:
1. MSME owners: Micro, small, and medium business owners in the area
are the main customer segments. They need a variety of services and
products to support their business operations, such as raw materials,
financial services, marketing, information technology, and others.
2. Local Cooperatives: Local cooperatives or MSME associations can also
be an important customer segment. They may be looking for services or
products to support their members, such as training, co-marketing, or
supply chain management.
3. Suppliers and Service Providers: MSMEs can also be customers to other
suppliers and service providers in the community, such as local
manufacturers, logistics providers, marketing agencies, or technology
providers.
4. Industry Associations: This segment includes associations or
organizations that represent a specific industry or sector within a local
community. They may seek support to increase the competitiveness and
growth of MSMEs in their industry.
Segmentation of MSME customers in the hyperlocal ecosystem is very
important to support the growth and sustainability of local businesses. By
understanding the needs and challenges faced by MSMEs in these
communities, stakeholders can develop relevant and effective solutions to
support local economic development.
Channel
In supporting the growth and sustainability of local businesses, Bank
BRI has channels or platforms that can meet and answer challenges, so that
this can ensure that products and services can be effective, such as BRILink
Agents which currently have reached 800,000 Agents spread throughout
Indonesia and include the PARI and Localoka applications, so that it is an
effective strategy to reach various customer segments in the hyperlocal
ecosystem.
Customer Relations
MSMES needs to build strong relationships with its customers in a
hyperlocal ecosystem through a strategic approach to interacting with
customers and ensuring their satisfaction. Strategies that can be done are:
1. Gathering: MSMEs can build direct relationships with customers through
face-to-face interactions in physical stores or at local events. Introducing
yourself, listening to customer needs, and providing personalized service
will help build customer trust and loyalty.
2. Relevant Content and Communication: Sending relevant and valuable
content to customers via email, social media, or newsletters can help
maintain a connection with customers. This could be information about
new products, usage tips, or local news and events.
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5232
may also be part of a local business network. Here are some examples of
MSME customer segmentation in a hyperlocal ecosystem:
1. MSME owners: Micro, small, and medium business owners in the area
are the main customer segments. They need a variety of services and
products to support their business operations, such as raw materials,
financial services, marketing, information technology, and others.
2. Local Cooperatives: Local cooperatives or MSME associations can also
be an important customer segment. They may be looking for services or
products to support their members, such as training, co-marketing, or
supply chain management.
3. Suppliers and Service Providers: MSMEs can also be customers to other
suppliers and service providers in the community, such as local
manufacturers, logistics providers, marketing agencies, or technology
providers.
4. Industry Associations: This segment includes associations or
organizations that represent a specific industry or sector within a local
community. They may seek support to increase the competitiveness and
growth of MSMEs in their industry.
Segmentation of MSME customers in the hyperlocal ecosystem is very
important to support the growth and sustainability of local businesses. By
understanding the needs and challenges faced by MSMEs in these
communities, stakeholders can develop relevant and effective solutions to
support local economic development.
Channel
In supporting the growth and sustainability of local businesses, Bank
BRI has channels or platforms that can meet and answer challenges, so that
this can ensure that products and services can be effective, such as BRILink
Agents which currently have reached 800,000 Agents spread throughout
Indonesia and include the PARI and Localoka applications, so that it is an
effective strategy to reach various customer segments in the hyperlocal
ecosystem.
Customer Relations
MSMES needs to build strong relationships with its customers in a
hyperlocal ecosystem through a strategic approach to interacting with
customers and ensuring their satisfaction. Strategies that can be done are:
1. Gathering: MSMEs can build direct relationships with customers through
face-to-face interactions in physical stores or at local events. Introducing
yourself, listening to customer needs, and providing personalized service
will help build customer trust and loyalty.
2. Relevant Content and Communication: Sending relevant and valuable
content to customers via email, social media, or newsletters can help
maintain a connection with customers. This could be information about
new products, usage tips, or local news and events.
Increasing Revenue with New Source Engine Community-based (hyperlocal) business in the
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5233
3. Assistance in Local Communities: MSMEs can strengthen relationships
with customers by being an active part of the local community. This can
include participating in community events, supporting local social or
charitable initiatives, or collaborating with other local businesses.
Key Activities
It is an activity that can be carried out daily to achieve a value
proposition. In this case, the key activities are transactions which include
selling, buying, and paying. Then, providing bailout facilities to MSMEs so
that they can help overcome financial challenges and support business
growth. Providing literacy, understanding, and knowledge possessed by
MSME owners about financial, management, and business operational
aspects. Improving the literacy of MSME customers is very important to
help manage their business more effectively, improve sustainability, and
maximize growth opportunities.
Key Resource
It is a resource to support activities in business operations, such as
micro marketing which is an effective approach because MSMEs have
limited resources and are more suitable for targeting smaller and segmented
markets. Then the IT team creates features that can help MSMEs in
marketing their products, as well as assistance from the agency business.
Key Partnership
It is a collaboration with a third party to strengthen the project that is
being undertaken, such as with customers as commodity ecosystem actors,
wholesalers, and entrepreneurs. Then, it is supported by the collaboration of
BRI's internal teams such as Team Ecosystem, MBD Division, IT Agile
team, KRD Division, Legal Division, Compliance Division, ALM Division,
ORD Division, DRD, PPM Division, and PT SAU. Collaboration with third
parties, especially in the context of MSMEs, can be a very beneficial
strategy to expand business reach, increase brand visibility, and offer added
value to customers.
Cost Structure
Cost Structure is a series of costs associated with running a business. It
covers all types of costs that a company needs to incur in the process of
producing, distributing, and selling products. In this context, Bank BRI itself
has incurred the following costs:
1. Operating Costs: costs associated with running the day-to-day operations
of the business, administrative costs, and promotional costs.
2. Marketing and Sales Expenses: This includes all costs associated with
marketing, promoting, and selling a product or service. This can include
advertising costs, sales promotions, packaging costs, and distribution
costs
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5233
3. Assistance in Local Communities: MSMEs can strengthen relationships
with customers by being an active part of the local community. This can
include participating in community events, supporting local social or
charitable initiatives, or collaborating with other local businesses.
Key Activities
It is an activity that can be carried out daily to achieve a value
proposition. In this case, the key activities are transactions which include
selling, buying, and paying. Then, providing bailout facilities to MSMEs so
that they can help overcome financial challenges and support business
growth. Providing literacy, understanding, and knowledge possessed by
MSME owners about financial, management, and business operational
aspects. Improving the literacy of MSME customers is very important to
help manage their business more effectively, improve sustainability, and
maximize growth opportunities.
Key Resource
It is a resource to support activities in business operations, such as
micro marketing which is an effective approach because MSMEs have
limited resources and are more suitable for targeting smaller and segmented
markets. Then the IT team creates features that can help MSMEs in
marketing their products, as well as assistance from the agency business.
Key Partnership
It is a collaboration with a third party to strengthen the project that is
being undertaken, such as with customers as commodity ecosystem actors,
wholesalers, and entrepreneurs. Then, it is supported by the collaboration of
BRI's internal teams such as Team Ecosystem, MBD Division, IT Agile
team, KRD Division, Legal Division, Compliance Division, ALM Division,
ORD Division, DRD, PPM Division, and PT SAU. Collaboration with third
parties, especially in the context of MSMEs, can be a very beneficial
strategy to expand business reach, increase brand visibility, and offer added
value to customers.
Cost Structure
Cost Structure is a series of costs associated with running a business. It
covers all types of costs that a company needs to incur in the process of
producing, distributing, and selling products. In this context, Bank BRI itself
has incurred the following costs:
1. Operating Costs: costs associated with running the day-to-day operations
of the business, administrative costs, and promotional costs.
2. Marketing and Sales Expenses: This includes all costs associated with
marketing, promoting, and selling a product or service. This can include
advertising costs, sales promotions, packaging costs, and distribution
costs
Jadid Pratama Yuga Nugraha, Erma Suryani
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5234
3. Product or Service Development Costs: For MSMEs involved in the
development of new products or services, product or service development
costs need to be considered in the cost structure.
4. Research and Development (R&D) Expenses: Costs for research and
development activities related to product or service innovation.
Revenue Stream
Revenue Streams are a source of revenue or cash flow generated by a
business from the sale of products or services to customers. In the context of
MSMEs, revenue streams are very important because they are the main
source of income that supports business continuity. The following are the
Revenue Streams obtained by Bank BRI in managing the Hyperlocal
Ecosystem:
1. Fee-Based Income: Refers to the income earned from services that are
charged or fees to customers in exchange for certain services or benefits
provided. Some examples of fee-based income in the context of MSMEs
include:
1) Service Fee: A fee charged to customers for certain services provided
by MSMEs, such as consultation fees, shipping fees, or additional
service fees.
2) Subscription Fee: Revenue from monthly or annual subscriptions
charged to customers to access a particular service on an ongoing
basis.
3) Registration or Join Fee: The fee charged to customers to register or
join a platform, program, or service offered by MSMEs.
2. Revenue from Transactions: Revenue earned from the sale of products or
services to customers by way of transactions. Some examples of revenue
transactions in the context of MSMEs include:
1) Product Sales: Revenue from the sale of physical or digital products to
customers.
2) Services or Services: Revenue from the sale of services or services
provided to customers, such as consulting, repair, or installation
services.
3) Transaction Fees: Revenue from transaction fees charged to customers
as part of the payment process, such as credit card fees or funds
transfer fees.
Results of Piloting New Business Model
From the results of the Business Model Canvas in 4.8 which was
implemented in the bank's new business model, a report on the increase in
fee-based income on the channel that is a transaction tool was obtained. This
is by the application where the channel is the main transaction medium or
can be called a closed-loop transaction. In it, there are core channels such as
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5234
3. Product or Service Development Costs: For MSMEs involved in the
development of new products or services, product or service development
costs need to be considered in the cost structure.
4. Research and Development (R&D) Expenses: Costs for research and
development activities related to product or service innovation.
Revenue Stream
Revenue Streams are a source of revenue or cash flow generated by a
business from the sale of products or services to customers. In the context of
MSMEs, revenue streams are very important because they are the main
source of income that supports business continuity. The following are the
Revenue Streams obtained by Bank BRI in managing the Hyperlocal
Ecosystem:
1. Fee-Based Income: Refers to the income earned from services that are
charged or fees to customers in exchange for certain services or benefits
provided. Some examples of fee-based income in the context of MSMEs
include:
1) Service Fee: A fee charged to customers for certain services provided
by MSMEs, such as consultation fees, shipping fees, or additional
service fees.
2) Subscription Fee: Revenue from monthly or annual subscriptions
charged to customers to access a particular service on an ongoing
basis.
3) Registration or Join Fee: The fee charged to customers to register or
join a platform, program, or service offered by MSMEs.
2. Revenue from Transactions: Revenue earned from the sale of products or
services to customers by way of transactions. Some examples of revenue
transactions in the context of MSMEs include:
1) Product Sales: Revenue from the sale of physical or digital products to
customers.
2) Services or Services: Revenue from the sale of services or services
provided to customers, such as consulting, repair, or installation
services.
3) Transaction Fees: Revenue from transaction fees charged to customers
as part of the payment process, such as credit card fees or funds
transfer fees.
Results of Piloting New Business Model
From the results of the Business Model Canvas in 4.8 which was
implemented in the bank's new business model, a report on the increase in
fee-based income on the channel that is a transaction tool was obtained. This
is by the application where the channel is the main transaction medium or
can be called a closed-loop transaction. In it, there are core channels such as
Increasing Revenue with New Source Engine Community-based (hyperlocal) business in the
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5235
BRILink, Pari Application, and Localoka as super apps for territorial
control.
Conclusion
The results of this research resulted in a community-based business framework
(hyperlocal business) as a new source business engine business in addition to BRI's
business as usual as an effort to continuously improve BRI's revenue yield. Strategies to
achieve continuous improvement through Micropayment, Micro Lending, and B2B
service offerings in hyper-local ecosystem applications to improve the sustainability of
local businesses. Micropayments in the Hyperlocal Ecosystem offer payment solutions
for micro business customers to digitize payments on the BRI Marketplace platform, so
it is targeted at wet market traders to enable cashless transactions in the ecosystem.
Then Micro Payment is a series of innovative payment solutions for micro-merchants
including QRIS-based payments, and mPOS-based transactions, with the potential to
integrate with existing offerings such as Strawberry Bill, and Strawberry Cashier to
expand the value proposition beyond transaction-based services.
The next approach is Micro Lending which is a microloan offering for players in
the marketplace ecosystem that is prioritized to help with funding purchases (e.g. loans
for farmers to buy agri supplies), such as personalized transaction-based loan offerings
for ETB micro customers, seamless customer journey for pre-approved micro-loans,
flexible payments with the option to reduce payments from marketplace transactions as
Loan Repayment, an option for non-pre-approved customers to start applying for loans
on the mobile application and a user-friendly loan account management feature to view
transactions and loan history.
Open Banking era
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5235
BRILink, Pari Application, and Localoka as super apps for territorial
control.
Conclusion
The results of this research resulted in a community-based business framework
(hyperlocal business) as a new source business engine business in addition to BRI's
business as usual as an effort to continuously improve BRI's revenue yield. Strategies to
achieve continuous improvement through Micropayment, Micro Lending, and B2B
service offerings in hyper-local ecosystem applications to improve the sustainability of
local businesses. Micropayments in the Hyperlocal Ecosystem offer payment solutions
for micro business customers to digitize payments on the BRI Marketplace platform, so
it is targeted at wet market traders to enable cashless transactions in the ecosystem.
Then Micro Payment is a series of innovative payment solutions for micro-merchants
including QRIS-based payments, and mPOS-based transactions, with the potential to
integrate with existing offerings such as Strawberry Bill, and Strawberry Cashier to
expand the value proposition beyond transaction-based services.
The next approach is Micro Lending which is a microloan offering for players in
the marketplace ecosystem that is prioritized to help with funding purchases (e.g. loans
for farmers to buy agri supplies), such as personalized transaction-based loan offerings
for ETB micro customers, seamless customer journey for pre-approved micro-loans,
flexible payments with the option to reduce payments from marketplace transactions as
Loan Repayment, an option for non-pre-approved customers to start applying for loans
on the mobile application and a user-friendly loan account management feature to view
transactions and loan history.
Jadid Pratama Yuga Nugraha, Erma Suryani
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5236
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Ramdani, Opi, & Kamal, Mustafa. (2023). Corporate Governance and Shariah Non-
compliance Risk: The Case of Islamic Banks in Indonesia. Jurnal Akuntansi Dan
Keuangan Islam, 11(1, April), 49–79.
Raskind, Ilana G., Shelton, Rachel C., Comeau, Dawn L., Cooper, Hannah L. F.,
Griffith, Derek M., & Kegler, Michelle C. (2019). A review of qualitative data
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Military Studies (pp. 129–141). Routledge.
Teece, David J. (2010). Business models, business strategy, and innovation. Long
Range Planning, 43(2–3), 172–194.
Indonesian Journal of Social Technology, Vol. 5, No. 11, November 2024 5236
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