Innovation Strategies for Islamic Bank Remittances in the Digital Ecosystem: A Study on Bank Muamalat Banda Aceh Branch Office

Abstract

Product innovation within the digital ecosystem is crucial for enhancing the quality of banks. To achieve this, certain steps are required by banks to ensure that innovations are implemented smoothly. One of the bank products that can be innovated is remittance services. Remittance services in banks involve the transfer of money from within the country to abroad or from abroad to the country using foreign currencies. The objective of this study is to understand the strategic steps taken by Bank Muamalat KCU Banda Aceh in innovating remittance services within the digital ecosystem. This study employs a descriptive qualitative research method that systematically, factually, and accurately defines the facts and data collected by the researcher, utilizing techniques such as data reduction, data presentation, and drawing conclusions through interviews and documentation. The findings of this study show that Bank Muamalat KCU Banda Aceh's steps in remittance innovation consist of strategy formulation, strategy implementation, and strategy control for remittance innovations in the digital ecosystem from start to finish.