Benchmarking the operational efficiency of digital banks in Indonesia: A data envelopment analysis (DEA) approach to digital banks listed on the Indonesian stock exchange, 2021–2025

Abstrak

Digital transformation has reshaped the business model of Indonesia's banking industry through the rise of technology-based digital banks. Amid the growth of third-party funds (TPF), assets, and operational activity, efficiency is a key indicator of the success of this transformation. This study analyzes the efficiency of digital banks listed on the Indonesia Stock Exchange during 2021–2025 using Data Envelopment Analysis (DEA) with the Banker, Charnes, and Cooper (BCC) input-oriented model under the intermediation approach. Inputs are third-party funds, total assets, and operating expenses; outputs are financing and operating income. The analysis covers five digital banks over five years (25 decision-making units). A robustness check using the BCC output-oriented model tests the consistency of results. Bank Aladin Syariah, Allo Bank, Bank Amar, and Bank Jago consistently lie on the efficient frontier, while Bank Neo Commerce was inefficient only in 2021 (score 0.85) before reaching full efficiency from 2022. The two orientations yield a highly consistent efficiency pattern, reinforcing the reliability of the findings. The study contributes empirically to the digital bank efficiency literature through benchmark, reference-set, lambda, slack, and projection analyses.

Kata kunci

• benchmarking
• data envelopment analysis
• digital bank
• efficiency
• intermediation