The Rapid Flow of Information in the Digital Age Raise the Need for Financial Solutions that Help Communities Take Control of Their Financial Needs and Goals

Press Release / 24 July 2023

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Jakarta - 24 July 2023 - Amid this digital era, many productive generations, from the youngest such as Gen Z, Millennials, to Gen X, are exposed to information that is spreading so widely. Dissemination of information packaged in a short and fast way makes the information more attractive in the eyes of the public. This affects consumer behavior from previously looking for information by asking those closest to them, to using the internet and social media. This is supported by smartphone penetration which is already very high in Indonesia. According to data from the Badan Pusat Statistik (BPS) for 2022, 67.88% of Indonesia's population aged 5 years and over already own a smartphone. This percentage has increased compared to 2021 which is still 65.87%.

It doesn't just stop at seeking information, for decision making, the community is now positioning digital information gathering as a trusted source of reference. With so much and fast information being spread and received by people every day, those who do not have self-censorship skills will tend to have a short attention span or the amount of time spent concentrating is shorter.

This causes all information to be absorbed without being filtered first. Then there will be a possibility of wanting to compare their own condition with what they see on the internet and social media. As a result, people will make financial decisions such as buying things impulsively and in a hurry to the detriment of themselves in the future.

This concern was also expressed by several Indonesian public figures. Like Den Dimas, a content creator in the automotive sector, who argues that in choosing a vehicle, both four-wheeled and two-wheeled, there are many things that must be considered, starting from the purpose, selection of specifications, and carefulness in taking advantage of offers or discounts.

Then, there is also Agustinus Michel who is famous as @paksugus on TikTok. According to him, there is an expectation from parents that if you don't have a house, it means you haven't been successful, making the current generation even more pressured to buy property. Not only property, but the expectations of the current generation are also getting higher because they want to have an aesthetic and functional home.

Then from the leisure side, there is a lot of information about traveling or healing, although on the one hand it is quite encouraging because it shows an increase in public awareness about mental health but has the potential to make people want to travel without considering their financial condition. According to Jerome Polin, one of the well-known YouTubers, when traveling there are many things that must be balanced so overspending won’t happen while traveling. For example, if spending on activities is already expensive, then balance it with cheap food expenses. Therefore, Jerome argues, when traveling, you must be smart about managing your finances by taking advantage of promos or discounts.

Not only from the house, vehicle and traveling side, the pressure for parents to instill financial awareness in their children from an early age was also expressed by Caca Tengker who is a well-known psychologist. Caca kept trying to carry out parenting by making connections before the correction. That is, parents must be able to understand from the child's side first before giving limits as corrections. From here, new parents can instill an understanding of the difference between needs and wants in their children, so they don't live extravagantly.

There is another concern from Rius Vernandes, a content creator who often reviews flights using business class and first class. Rius often looks for ways to be able to travel comfortably and safely with his family by maximizing benefits in the form of miles & reward points.

All these needs and insights were discussed by these influencers together with PT Bank Danamon Indonesia Tbk (Danamon) at the DXPO Talks event, which was held at Central Park Mall, 20-23 July 2023. The theme was GROWING TOGETHER, which is also the theme for this year's anniversary, Danamon held DXPO by Danamon to showcase the company's product, service, and channel capabilities; and reaffirmed its commitment to become a one-stop financial solution provider for all customers' financial needs.

In various interesting discussion sessions with these influencers, Danamon offers solutions according to the needs and financial goals presented. Like the need to acquire a first vehicle, Danamon believes that it is important to choose the right, reliable and flexible financing partner.

Then there is the need to obtain properties that the younger generation wants, where Danamon provides insights that it is better for the younger generation to buy property from now on because property prices will always go up. Furthermore, from the traveling side, in addition to the solutions provided by Danamon through attractive promos on flight tickets, hotels and attractions, Danamon also provides insurance that ensures the comfort and safety of customers while traveling.

Answering the last concern, namely financial literacy from an early age in children, Danamon presents savings products that are tailored to the needs of your little one while he learns about basic finances from his father and mother, namely Danamon LEBIH Junior and Danamon LEBIH Youth.

Not only financial solutions, this bank, which has been established since 1956, also provides free entertainment from Tulus, a well-known Indonesian solo singer, for customers and mall visitors. The thousands of visitors who packed the Central Park Mall even exploded, causing the streets around the event to experience crowds from before evening until a few hours after the concert ended. The enthusiasm of the visitors was evident when Tulus began to bring his hits to the fans who were present at the Tribeca Park area, where he performed eight songs for the visitors. The audience also seemed amused by the performance of the singer of the song "Interaksi".

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