{
    "success": true,
    "data": {
        "id": 1915512,
        "msgid": "uob-banks-must-shift-focus-from-products-to-customer-needs-1786543101",
        "date": "2026-08-12 20:08:46",
        "title": "UOB: Banks must shift focus from products to customer needs",
        "author": "",
        "source": "ANTARA_ID",
        "tags": "",
        "topic": "Banking",
        "summary": "UOB Indonesia's Acting Head of Consumer Banking, Herman Soesetyo, stated that banks need to transition from a product-centric approach to becoming trusted financial advisors. He noted that increasingly complex customer expectations and diverse financial profiles, particularly among Indonesia's growing middle and affluent classes, require personalised solutions rather than one-size-fits-all products. This shift necessitates combining human expertise with data analytics and technology, while maintaining a hybrid model of physical branches for wealth management and expanded digital channels for transactions.",
        "content": "<p>The changing and increasingly complex needs of customers are pushing\nthe banking industry to shift from a product-based approach to services\nthat focus on individual customer needs, according to Acting Head of\nConsumer Banking at PT Bank UOB Indonesia, Herman Soesetyo. Herman noted\nthat public expectations of banking services have changed rapidly\ncompared to a few years ago, making an approach that offers the same\nproducts to various customer profiles less relevant. \u201cAt UOB, from a\nconsumer perspective, we see the customer more in terms of the client,\nnot just the product,\u201d Herman said during the UOB Media Editors Circle\n2026 in Jakarta on Wednesday. He explained that banking previously\ntended to be oriented towards providing products, with customers then\nchoosing from what was available. However, he believes banks now need to\nfirst understand the character and needs of customers before offering\nfinancial solutions. \u201cSo it\u2019s not that; we have shifted our focus more\ntowards client-centric segmentation rather than the product itself,\u201d he\nstated. This change is occurring alongside the growth of population\ngroups with increasingly diverse financial needs. Citing data from the\nCentral Statistics Agency (BPS) from September 2024, a UOB presentation\nshowed there are approximately 48.4 million middle-class residents, 1.3\nmillion affluent or high-income individuals, and more than 138 million\npeople in the aspiring middle class. The UOB ASEAN Consumer Sentiment\nStudy 2025 also indicated that three out of four Indonesian consumers\nsave more than 10 percent of their income each month, while 34 percent\nset aside 11 to 20 percent of their monthly earnings. According to\nHerman, the evolving financial needs and behaviours of the public mean\nit is no longer sufficient for banks to merely provide products; they\nmust also understand customer needs and offer appropriate solutions. \u201cSo\nfor banking, I would say that banking should probably position itself as\nwhat, actually? As a trusted financial advisor,\u201d he revealed. He noted\nthat this approach requires an understanding of each customer\u2019s persona\nand risk profile, especially when offering investment products. \u201cBecause\neach person is different if they want to become an investor, their\nprofiles are certainly different, and there is no product that can be a\none-size-fits-all,\u201d Herman said. The UOB presentation showed that the\nneed for financial guidance can cover asset allocation and risk\nmanagement, investment diversification, children\u2019s education, retirement\npreparation, and inheritance planning. UOB also sees rising expectations\nfor banks, ranging from the need for more detailed and specific\ninformation to the role of relationship managers as trusted advisors.\nThe needs of the affluent segment are also considered increasingly\ncomplex. To support this change, Herman said that increasing human\nresource capacity must be accompanied by the use of technology, data,\nand analytics so that services can be more tailored to customer needs.\nHe added that the development of service channels must also combine\nphysical and digital services. Branch offices still have a role, for\ninstance, in wealth management needs, while digital services need to be\ncontinuously expanded to cover various transaction and customer service\nrequirements.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/uob-banks-must-shift-focus-from-products-to-customer-needs-1786543101",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}