Abstract :

The cash management industry is becoming significantly intense from both banking and non-banking institutions as they keep innovating and offering advanced solutions to meet and cater to the dynamic business of the customers. This study was conducted to explore the strategic initiatives that can be formulated for PT. Bank Negara Indonesia (BNI) to strengthen its position as a transactional bank through the optimization of its cash management solutions, specifically focusing on BNIDirect. The analysis was carried out by understanding the nature of the competition and assessing the position of BNI in terms of cash management solutions relative to its competitors. The study used a qualitative method based on the interview with the key executive management and the literature review related to marketing and business strategy to uncover valuable insight and best practices that can strengthen the positions of BNI as a transactional bank. The research concludes that by addressing and overcoming the challenges that impacted cash management solutions, BNI can solidify its market position and achieve sustainable growth in the competitive cash management industry.

---

Keywords :

7P’s marketing mix, Generic Porter Strategy, PESTEL Analysis, Porter's Five Forces, Transactional Banking, VRIO analysis.

---

References :

1. Insider Intelligence, 2022, The future of retail, mobile, online, and digital-only banking technology in 2022. Available from The future of retail, mobile, online, and digital-only banking technology in 2022 [Accessed on June 2022]
2. Kotler, P., Kartajaya, H., dan Setiawan, I. (2016), Marketing 4.0: Moving from Traditional to Digital. Jakarta: Wiley
3. Shapiro, B.P. and Bonoma, T.V. 1990, ‘How to segment industrial markets’, in R.J. Dolan (ed.), Strategic Marketing Management, Cambridge, MA: Harvard Business School Press.
4. Kęstutis RĖKLAITIS, Lina PILELIENĖ. 2019, Principle Differences between B2B and B2C Marketing Communication Processes, Management of Organizations: Systematic Research, vol.81, no.1, 2019, pp.73-86. Available from:  https://doi.org/10.1515/mosr-2019-0005
5. Ales Chmelar.2013, Transaction Banking: Respecting its role in the real economy. Belgium: European Credit Research Institute.
6. Smith, W.R. 1956, ‘Product differentiation and market segmentation as alternative marketing strategies’, Journal of Marketing, July, 3–8.ss
7. Arif A. Khan.2022, Open Banking: Evolving Global Landscape and Opportunities for Sustainable Growth. India: International Journal of Research in Engineering, Science and Management.
8. S.Sankar, Keerthana.S, Mr.Bino Mathew, Dr. B. Nimalathasan. 2021, A Study On Effective Cash Management System Performance In Abc Techno Labs India Private Limited. India : Ilkogretim Online.
9. Swain, C.D. 1993, ‘Competitive benchmarking’, in D. Bernhardt (ed.), Perfectly Legal Competitor Intelligence, London: Pitman Publishing.
10. co.id, 2023, Menggerakkan Ekonomi Indonesia Maju, BNI Fokus Go Global, Go Digital, Go Green 2023. Available from Menggerakkan Ekonomi Indonesia Maju, BNI Fokus Go Global, Go Digital, Go Green – Promo | BNI [Accessed on October 5th, 2023]
11. co.id, 2023, BNI Dorong 7 Strategi Transformasi 2023. Available from BNI Dorong 7 Strategi Transformasi 2023 – Berita | BNI [Accessed on October 1st, 2023]
12. com,2022, Erick Thohir Ajak Generasi Muda Wujudkan Indonesia Emas 2045. Available from: Erick Thohir Ajak Generasi Muda Wujudkan Indonesia Emas 2045 (jpnn.com)