Jalin Strengthens the Cash Management Ecosystem with JETS, a Digital Solution for the Future of Cash Handling

Amid the rapid digitalization of financial services, the demand for cash management in Indonesia continues to grow significantly. In 2023, the circulation of physical currency reached IDR 1.101 trillion, marking the highest level in the past five years. This increase was predominantly driven by cash in public circulation, which grew by 9% YoY, while cash held by banks declined by -2% YoY. This phenomenon reflects the persistent reliance on cash transactions, particularly in the post-COVID-19 era, which has altered consumer behavior and payment preferences.

Despite the advancement of digital payment systems, Automated Teller Machines (ATMs) remain relevant in meeting society’s cash needs. However, ATMs are expected to shift their role to become cash points, functioning not only as machines for banking transactions but also as key distribution points in a more integrated cash management system. Additionally, the increasing adoption of Cash Recycle Machines (CRMs), which are gradually replacing ATMs, enhances the optimization of cash points, enabling more efficient cash deposits and withdrawals while reducing the need for cash supply from banks to ATMs/CRMs.

In response to these challenges, PT Jalin Pembayaran Nusantara (‘Jalin’), a subsidiary of the Danareksa State-Owned Enterprise (SOE) Holding part of  introduces the Jalin Enterprise Transactional System (JETS), a digital platform designed to optimize real-time cash management for banking, retail, and cash-handling industries. JETS serves as a solution that enhances efficiency, accuracy, and transparency in cash management across Indonesia.

JETS offers various advanced features tailored to meet the needs of the industry for systematic and data-driven cash management. The system enables real-time cash monitoring, records cash inflows and outflows, and provides insights based on currency denominations, year of issuance, and physical condition of banknotes. Additionally, it assists financial institutions in accurately projecting future cash needs to prevent shortages or excess reserves.

With its reconciliation feature, ensuring consistency between bank ledger records (General Ledger/GL) and physical cash in circulation, JETS also automates and schedules cash pickup operations from retail businesses, banks, and cash management service providers (PUR). Moreover, the system optimizes ATM cash replenishment to ensure timely and precise fund availability while providing accurate, data-driven cash position reports for strategic decision-making.

With the adoption of JETS, the financial industry in Indonesia can benefit from enhanced operational efficiency and effectiveness. Real-time information on cash availability and conditions allows banks and cash managers to make informed decisions. Accurate ATM/CRM cash replenishment forecasting minimizes cash shortages and prevents inefficient overstocking. The system also optimizes cash distribution, ensures efficient resource utilization, and reduces risks associated with delays, errors, and fraud, which have been persistent concerns in the cash management industry.

JETS represents Jalin’s commitment to delivering a solution that not only meets current demands but also contributes to building a modern, efficient, and secure cash management ecosystem. With this system, Indonesia’s financial industry is better prepared to face future challenges while ensuring cash transactions remain well-regulated and transparent.

As part of a broader initiative to support financial service digitalization, JETS aligns with Jalin’s vision of realizing The National Digital Highway. With increasingly integrated payment and cash management systems, Indonesia is poised to advance towards a more inclusive and competitive financial ecosystem in the digital era.

For more information about this service, please contact us via email at corporate@jalin.co.id.