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Lender backed by Gojek and GIC to offer banking services through mobile app in Indonesia in March

Bloomberg3/5/2021 8:36 AM GMT+08  • 3 min read
Lender backed by Gojek and GIC to offer banking services through mobile app in Indonesia in March
Bank Jago went from obscurity to Indonesia’s fourth most-valuable listed bank in recent months.
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Bank Jago will begin offering some banking services via mobile app this month before extending full-fledged products including loans, securing early-mover advantage in Indonesia’s booming digital banking industry.

The lender, which received fresh capital from ride-hailing and payments giant Gojek and Singaporean sovereign wealth fund GIC Pte, will then embed its services on Gojek’s platform this year, President Director Kharim Siregar and Commissioner Anika Faisal said in a joint interview from Jakarta. That would let Gojek’s tens of millions of users instantly open a bank account with Jago and manage their finances via the Gojek app.

“We really foresee the change in the lifestyle through the phones,” Siregar said. Digital banking “needs to be easy, fast and secure. Whoever can do this well will come out as leaders. We want to be in that leadership position.

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