Deputy Commissioner Senior Advisor of the Human Resources Operational Directorate at the Financial Services Authority (Otoritas Jasa Keuangan, or OJK), Anto Prabowo, has earned a Doctoral degree from the Doctoral Program in Economics (PDIE) at the Faculty of Economics and Business (FEB) of Universitas Sebelas Maret (UNS) Surakarta. Anto Prabowo successfully defended his dissertation entitled “Bank Performance in Indonesia in the Era of Digitalization and Consumer Protection with Structural Equation Modeling Approach” in front of the examining board chaired by the Acting Rector of UNS, Dr. Chatarina Muliana, S.H., S.E., M.H.

The Public Examination of the Doctoral Promotion in Economics at FEB UNS was held at Konimex Hall, Building 4 FEB UNS, on Monday (April 22, 2024). Acting as the Chair of the Promotors Team, Prof. Wimboh Santoso, S.E., M.Sc., Ph.D., with Promotor 1, Prof. Drs. Djoko Suhardjanto, M.Com. (Hons)., Ph.D., Ak; and Promotor 2, Prof. Irwan Trinugroho, S.E., M.Sc., Ph.D. The Examination Board consisted of Dr. Chatarina Muliana, S.H., S.E., M.H. as the chair; then Dr. Atmaji, M.M.; Tastaftiyan Risfandy, S.E., M.Sc., Ph.D.; Dr. Hidajat Hendarsjah, S.Si., M.M.; Prof. Dr. Rahmawati, M.Si., Ak.; and Prof. Dr. Mamduh M. Hanafi, MBA. (as external examiner from UGM).

To the promotors and examiners, Anto Prabowo stated that consumer protection has strengthened since the 2008 crisis, and digitalization in the banking sector has become inevitable. Both are progressing together, making it an intriguing area for researchers to examine the relationship between them, their connection to company size, and the influence of these two variables on financial and digital performance.

“There is still limited research on the influence between the mentioned variables. Digital banking services through digital ecosystem orchestration and consumer protection are two strategic issues in the banking industry over the past decade. However, comprehensive studies that discuss the relationship between consumer protection and ecosystem orchestration are still very limited,” Anto Prabowo explained.

Therefore, Anto Prabowo was interested in writing a dissertation titled “Bank Performance in Indonesia in the Era of Digitalization and Consumer Protection with Structural Equation Modeling Approach.” The aim of this research is to examine the influence of bank size on consumer protection and digital ecosystem orchestration and their impact on financial and digital performance in the banking industry in Indonesia.

“This research is expected to fill the theoretical and empirical gaps in the complex influence of variables in the study, thus answering the main research question: ‘Is there an influence between company size on consumer protection and digital ecosystem orchestration, and their influence on financial and digital performance, including the two-way relationship between the intended performances?'” Anto Prabowo added.

This study examined the influence of bank size on consumer protection and digital ecosystem orchestration and their impact on financial and digital performance in the case of commercial banks in Indonesia using Structural Equations Modeling (SEM) method. This quantitative approach obtained several important conclusions. First, bank size has a very strong and significant positive effect on consumer protection and digital ecosystem orchestration. Second, consumer protection does not have a significant positive or negative effect on digital ecosystem orchestration. Third, consumer protection has a positive and significant effect on financial and digital performance. Fourth, digital ecosystem orchestration does not have a significant positive effect on financial performance, but it has a very strong and significant positive effect on digital performance. Fifth, financial performance has a very small and not significant positive effect on digital performance. Digital performance has a positive and relatively large effect on financial performance, but it is still not significant. Then, sixth, bank size has a significant indirect positive influence statistically on financial and digital performance through the mediation of consumer protection and digital ecosystem orchestration variables.

At the end of the Public Examination of the Doctoral Promotion, the Chair of the Examination Board, Dr. Chatarina Muliana, S.H., S.E., M.H., announced that Anto Prabowo graduated cum laude with a Cumulative Grade Point Average (GPA) of 3,81 in 3,3 years of study. “Anto Prabowo is the 173rd doctoral graduate of PDIE FEB UNS,” Dr. Chatarina said.

The Chair of the Promotors Team, Prof. Wimboh Santoso, S.E., M.Sc., Ph.D., congratulated Anto Prabowo for completing his doctoral studies. Prof. Wimboh advised Anto Prabowo not to stop learning after completing his doctoral studies. “Stay productive, never stop learning,” Prof. Wimboh said. HUMAS UNS