In 2020, Ongki W. Dana needed a strategy to scale the innovative digital banking activities of PT Bank Tabungan Pensiunan Nasional Tok (BTPN) in Indonesia. BTPN started as a small bank that focused on serving military and civil servant pensioners, but it became known for its innovation after a private equity partner bought a stake in 2008. After innovating and scaling successfully in microfinance, BTPN decided to go digital, and in 2015 it created an in-house start-up called Jenius. The traditional bank had leapfrogged to become one of the forerunners in Indonesian digital consumer banking. But the first-mover advantage was fast eroding, and after a merger with Sumitomo Mitsui Banking Corporation (SMBC) Indonesia in 2019, BTPN had entered a new phase. Now that digital financial services were accelerating due to the COVID-19 pandemic, Dana wished to reflect on how to take Jenius forward. Was the in-house start-up model the best choice for digital innovation, or would the large incumbent banks digitalize faster