KB Bank's 'KB Star Biz' Transaction Volume Rises More Than 50% Through August This Year

【Jakarta, Indonesia—Aulia Maulida Hamdani, correspondent】The transaction volume of KB Star Biz, the corporate digital banking platform operated by KB Kookmin Bank's Indonesian subsidiary (KB Bank), rose by more than 50% year on year through August this year.
According to local media reports on the 30th, KB Bank explained that transactions on its platform were increasing rapidly as corporate customers increasingly used KB Star Biz. In particular, the rise in new corporate customers signing up for the platform this year drove the growth in transactions.
Novita S. Jani, head of KB Bank's transaction banking division, said at a recent KB Bank press event, "Transaction volume on the KB Star Biz platform has increased by more than 50% year on year. The fact that several corporate customers newly began using the platform contributed to the growth."
The number of KB Star Biz activations also recorded double-digit growth. KB Bank believes that the growth of its corporate digital banking services is continuing, as both transaction volume and corporate customers' active use of the platform have expanded.
Novita, the division head, explained, "We expect the number of activations to continue rising. The current activation trend is also showing double-digit growth."
The expansion of digital transactions by corporate customers is also expected to contribute to growth in KB Bank's recurring income, a recurring revenue stream.
KB Bank expects the use of KB Star Biz and transaction volume to continue increasing through the end of the year. Novita, the division head, said, "Transaction trends have been positive so far, and we expect growth to continue through the end of the year." 

[email protected] Aulia Maulida Hamdani, correspondent Reporter