As the first integration between an on-demand platform and a digital bank in Indonesia, the collaboration will increase access to banking services and accelerate financial inclusion for the unbanked in the country.
Jakarta, Indonesia, November 26, 2021 / PRNewswire / – GoPay, a digital wallet and payment solutions platform under GoTo Financial, and Bank Jago, a Indonesiapublicly traded tech bank, today announced a new service integration that will allow the Indonesian public to open a Jago bank account directly from the Gojek app. This integration between an on-demand platform and a digital bank is the first of its kind in Indonesia, and provide convenient access to digital banking services to the country’s millions of unbanked and underbanked consumers.
The service is available to all consumers in Indonesia with a verified GoPay account and the Gojek app, with no fees or minimum balance required to open a Jago bank account. Once their accounts are opened, GoPay Jago users will not have to pay any additional fees when transferring funds between GoPay and Jago, giving them more benefits and convenience in managing their finances.
With only 61.7% of Indonesians having a bank account, GoPay, and Jago’s latest integration represent a significant opportunity for both companies to bring digital banking to more people and drive financial inclusion. This is corroborated by a recent study by the Demographic Institute of the University of Indonesia (LDUI), which showed that one in 5 GoPay users currently do not have or are not actively using a bank account. At the same time, consumers are increasingly ready to use financial services, with 1 in 4 GoPay users interested in opening a bank account through GoPay, according to the same study.
The integration completes a feature launched earlier this year, which allows Jago users to connect their Jago pockets to the Gojek app and make cashless payments for Gojek services like transportation, food, bill payment, etc. Together, this means that GoPay Jago users can now enjoy a completely seamless experience in payments and financial management.
Hans patuwo, CEO of GoPay, said: “Accelerating financial inclusion in Indonesia has been GoPay’s mission since day one, so today’s integration with Jago is a real change for us. This marks a new phase in our efforts to bring digital financial services to more people, as we provide convenient access to banking services to millions of people across the country and help them start their financial planning journey. . We will continue to work with Jago and other financial institutions, leveraging our respective strengths to deliver a truly unique and frictionless financial management experience to consumers at all levels of society. “
Kharim Siregar, CEO of Bank Jago, said, “Jago aims to enhance the growth of millions of people through life-centric digital financial services, and our collaboration with GoPay is tangible proof of that commitment. By linking our app – which makes money management simple, innovative, and collaborative – with GoPay Broad Reach, we can deliver new benefits and an improved experience to consumers, enabling them to complete transactions quickly, easily and securely. security in the Gojek ecosystem. With this integration between GoPay and Jago, consumers can now open a Jago account through the Gojek app as well as using their Jago pockets as a source of funds to pay for various daily necessities. “
GoPay is a leading digital wallet and payment solutions platform aimed at improving lives and promoting financial inclusion through South East Asia. It is part of GoTo Financial, the payments and financial services arm of indonesia largest technology group, GoTo.
GoPay was first created in Indonesia in 2015 as a digital wallet. Since then, it has grown to become a gateway to a wide range of financial products and services, helping millions of Indonesians access digital banking, micro-loans, investments, and insurance. In 2019, Gojek via GoPay was included in Fortune’s “Change The World” list.
In 2021, as part of a first collaboration of its kind in Indonesia, GoPay and Bank Jago have introduced a new service integration that allows users to directly open a Bank Jago account through the Gojek app, providing Indonesians with access to digital banking services and increased convenience in financial management.
About Banque Jago
Bank Jago was established in Bandung in 1992 under the name PT Bank Artos Indonesia (Bank Artos). After serving its clients for over 27 years with conventional banking products, Bank Artos entered a new era in 2019 by having PT Metamorfosis Ekosistem Indonesia (MEI) and Wealth Track Technology Limited (WTT) as new controlling shareholders after having acquired 37.65 shares of Bank Artos. % (MEI) and 13.35% (WTT).
After phase II of the limited public offering (PUT), the total ownership of MEI and WTT amounts to 41.49%. The arrival of institutional investors – Gojek, through its payments and financial services arm GoTo Financial, and GIC Pte – also strengthens Bank Jago’s portfolio of innovative financial solutions.
Through banking products and services integrated into a technology-powered ecosystem, Bank Jago aspires to be a strong and innovative technology bank, ready to meet the needs of individuals (consumers), small and medium enterprises (SMEs) and the mass. Market segments.
 GoTo Financial and Gojek are part of GoTo Group, Indonesia’s largest technology group combining on-demand services, e-commerce and financial services.
 A user can verify their GoPay account in a few simple steps. A verified account, called GoPay Plus, allows users to access additional benefits.
 National Financial Inclusion Council. Financial inclusion survey 2020.
 Jago’s Pockets functionality allows customers to manage their savings and spending by creating pockets of funds for different purposes, such as daily necessities, vacation savings, shopping, etc. These pockets can also be created to share savings and expenses with family and friends.