SINGAPORE, Nov. 20, 2018 /PRNewswire/ -- Cloudera, Inc.
(NYSE: CLDR), the modern platform for machine learning and
analytics optimized for the cloud, today announced that PT. Bank
Rakyat Indonesia (Persero) Tbk (BRI), one of the largest
state-owned banks in Indonesia,
has deployed Cloudera Enterprise to harness the power of their data
to deliver better services to its customers and accelerate
financial inclusion in Indonesia.
By powering its big data platform with Cloudera, the financial
institution has expanded its customer base and enhanced its fraud
detection capability through machine learning.
Click to tweet: @Cloudera partners with @Bank_BRI_ID on
data-driven journey to boost growth, accelerate financial inclusion
and enhance fraud detection through #machinelearning [bit.ly]
Founded in 1895, BRI specializes in microfinance loans and
serves approximately 30 million retail clients through more than
4,000 branches, units and rural service posts in Indonesia. To further grow its business, the
bank needed to harness the full value of their customer data to not
only retain existing customers but also acquire new ones.
With the huge amount of customer data gained over the years, the
bank set out on a mission to digitalize its operations by deploying
a modern data management platform that was scalable, secure and
compliant. By replacing its legacy system with Cloudera Enterprise,
the bank was able to analyze five years' worth of historical data
and use the derived insights to improve its credit scoring system.
The insights derived also revealed a deeper understanding of its
customers' behavior. Armed with this knowledge, BRI is now able to
drive more sales by cross-selling and upselling services that are
most relevant to individual existing customers.
BRI has always been committed to the Indonesian government's
2020 Go Digital Vision and has focused on accelerating the rate of
financial inclusion in Indonesia. Previously, BRI distributed
loans in traditional models which are often time-consuming and
require a lengthy process. This was an impediment in driving the
rate of financial inclusion. By adopting a data-driven approach and
applying machine learning, BRI has increased the uptake of digital
loans and improved the productivity level of processing credit
loans by up to 50%, reducing processing time from two weeks to two
days. According to the Global Findex Database 2017 report, almost
50% of the adults in Indonesia now
own a bank account, reflecting the progress the nation has made in
boosting financial inclusion. And BRI aims to further narrow this
financial inclusion gap by providing greater access to their loans
with the introduction of an app.
To address the mounting concerns around data security from both
regulators and consumers, BRI has also recently embarked on a pilot
project to enhance its fraud detection system. Cloudera Data
Science Workbench is being used to develop a machine learning model
for fraud detection by leveraging data from multiple data sets. The
model will be deployed and served in real-time by utilizing HBase
as its backend data store. With the newly developed fraud detection
system, BRI will be able to process and detect fraud in real time
by highlighting anomalies found in the stream of events coming from
multiple customer touch points such as ATMs and internet banking
portals.
"We are committed to delivering services that continually
address customer demands while reducing risks," said Indra Utoyo,
Director of IT and Operations, BRI. "Cloudera's secure, scalable
and compliant platform has empowered us to analyze our massive
volume of data, which subsequently enabled us to make
insights-driven decisions that helped reduce churn, increase wallet
share, and better prevent fraud. We also chose Cloudera due to its
strong reference in the Indonesian market and the strong technical
support provided by its local and global teams."
"To stay ahead of the competition, banks need analytics and
machine learning to gain a comprehensive understanding of their
customers in order to deliver more personalized offerings, comply
with regulations, and reduce risks," said Mark Micallef, Vice President for Asia Pacific and Japan, Cloudera. "We are pleased to help BRI
capture new growth opportunities and address complex business
challenges."
About PT. Bank Rakyat Indonesia (Persero), Tbk
PT
Bank Rakyat Indonesia (Persero) Tbk (BRI) engages in the provision
of general banking services. The firm operates through the
following segments: Micro, Retail, Corporate, Others, and
Subsidiaries. The Micro segment offers banking services to
individual customers and micro-entrepreneurs. The Retail segment
serves individual customers and small and medium entrepreneurs by
providing banking services, deposit products, and commercial or
consumer loans. The Corporate segment provides special loans, cash
management, and other loan facilities to state-owned enterprises
and non-state owned enterprises companies. The Subsidiaries segment
focuses on shariah banking services, agribusiness, and remittances
provided by the company subsidiaries. The company was founded by
Aria Wiriatmaja on December 16, 1895
and is headquartered in Jakarta,
Indonesia. For more information on BRI, log on to
https://bri.co.id.
About Cloudera
At Cloudera, we believe that data can
make what is impossible today, possible tomorrow. We empower people
to transform complex data into clear and actionable insights. We
deliver the modern platform for machine learning and analytics
optimized for the cloud. The world's largest enterprises trust
Cloudera to help solve their most challenging business problems.
Learn more at www.cloudera.com.
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