Six Priority Banking Services Preferred by Affluent Customers in Indonesia
Priority banking services are increasingly becoming a necessity for affluent customers in Indonesia, driven by rising demands for asset management, investment, cross-border transactions, and premium lifestyle services.
Priority banking services are no longer solely for daily transactions but have become integral to wealth management and more complex financial needs. Affluent customers typically require access to investment products, wealth management, cross-border transactions, and financial support for education and international travel.
Thus, priority banking services are increasingly relevant, particularly through personalised service, Relationship Managers, investment access, and digital and global support.
When selecting a priority bank, customers consider factors such as the quality of Relationship Manager services, wealth management product access, digital banking convenience, international networks, and privileges supporting lifestyle and mobility needs.
The best priority banking services are not solely determined by bank size or premium service status, but by their ability to provide services tailored to affluent clients’ financial needs and profiles.
Key Criteria for Choosing Priority Banks
Priority banking services are evolving alongside growing affluent customer demands for asset management, investment, and global transactions. Selecting the best priority bank now requires considering broader aspects beyond minimum balance requirements. Customers increasingly weigh service quality, investment access, and digital support when choosing a bank. Key criteria for priority banking services include:
Minimum Managed Assets
Banks have varying requirements for priority services, ranging from Asset Under Management (AUM), Fund Under Management (FUM), to combined savings and investment balances. Major Indonesian banks typically set a minimum of Rp1 billion for priority banking segments.
Relationship Manager and Personalised Service
Relationship Managers (RMs) are a key factor in priority services. Beyond administrative assistance, RMs provide financial solutions tailored to clients’ risk profiles and needs.
Investment Access and Digital Banking
Priority customers typically require access to investment products such as mutual funds, bonds, foreign currency, and bancassurance. Digital services are also increasingly needed for portfolio monitoring and flexible transactions.
Privileges and Global Support
Privileges such as airport lounges, travel facilities, and global service access add value to priority banking. Cross-border transaction and global investment needs drive banks to strengthen international services for affluent clients.
Recommended Priority Banking Services in Indonesia
Several Indonesian banks are strengthening their priority banking services to meet growing affluent customer demands for asset management, investment, and global transactions. Each bank offers unique services and approaches, from wealth management and digital services to international transaction facilities. Below are priority banking services preferred by affluent customers in Indonesia:
Mandiri Prioritas
Bank Mandiri’s Mandiri Prioritas service targets customers with a minimum Fund Under Management (FUM) of Rp1 billion, including savings, deposits, current accounts, and investment products.
The service leverages an extensive domestic network and financial products for asset management needs. Mandiri Prioritas suits customers requiring widespread domestic service access.
DBS Treasures
DBS Treasures offers wealth management with a minimum managed funds of Rp1 billion, providing investment access, multi-currency transactions, and international transfers for domestic and global needs.
The digital service via digibank app supports 24/7 investment, foreign exchange transactions, and multi-currency deposits.
Additionally, customers can access international transfers, travel, wellness, and education facilities across Asia.
DBS Treasures’ strength lies in advisory services, global investment access, and digital capabilities.
BNI Emerald
BNI Emerald is BNI’s wealth management service for clients with a minimum Asset Under Management (AUM) of Rp1 billion, targeting affluent customers with personalised investment and asset management needs.
The service includes access to investment products like mutual funds, bonds, and bancassurance, along with Dedicated Relationship Managers and holistic advisory. BNI Private caters to clients with over Rp15 billion in managed funds.
BCA Prioritas
BCA Prioritas is a premium service widely used by domestic clients. BCA operates an invitation-only system with a minimum average portfolio of Rp1 billion in savings and investments.
The service’s strengths include an extensive domestic transaction network, service comfort, and widely recognised daily transaction convenience among Indonesian customers.
UOB Privilege Banking
UOB Privilege Banking targets clients with minimum managed funds of Rp1 billion through investment, insurance, and personal banking services.
UOB’s strength lies in its Southeast Asian regional network, supporting cross-border financial needs for affluent customers.
CIMB Preferred or CIMB Private Wealth
CIMB Niaga offers CIMB Preferred and CIMB Private Wealth services targeting affluent and high net worth customers.