Indonesia 's central bank said local banks should cooperate with fintechs and digital banks to restrict customer migration and improve their bargaining position . The findings follow a report from Bain & Co. that claimed global consumer banks face an uncertain future due to competition from digital banks , which offer online and mobile banking services , and fintechs , which have excellent customer loyalty and simple product systems .
Indonesia's central bank said local banks should cooperate with fintechs and digital banks to restrict customer migration and maintain their bargaining position. The comments follow a report from Bain & Co. that claimed global consumer banks face an uncertain future due to competition from digital banks, which offer online and telephone banking services, and fintechs, which have excellent user experiences and simple product systems.