Standard Chartered, Bukalapak launch new digital banking service in Indonesia

Jakarta, Indonesia – Global financial services Standard Chartered and Indonesian e-commerce company Bukalapak have announced the launch of a new digital banking service in Indonesia named BukaTabungan. The new digital banking service aims to serve the underbanked segment in Indonesia.

BukaTabungan, which is offered on the Bukalapak platform, will offer services inclusive, easy, and secure banking for the Bukalapak ecosystem which consists of more than 110 million users and 20 million registered businesses. This service also supports completely digital, face-to-face registration.

Through offering its banking access, BukaTabungan also aims to support business continuity and development of micro-small and medium enterprises (MSMEs) that constitutes 97% of the Indonesian workforce, where many of them do not have access to formal financing services and are still recovering from the impacts of COVID-19.

In addition, the collaboration between Bukalapak and Standard Chartered is strengthened by the strong commitments between said parties to a common vision to bridge the financial inclusion gap and promote sustainable impact in developing regions in the country.

Victor Lesmana, president of commerce and fintech at Bukalapak, said, “We are very enthusiastic about this partnership because it supports our mission of supporting the growth of MSMEs in Indonesia and continuing to expand financial inclusion across the country. We convey our greatest appreciation to Standard Chartered for their trust and passion for this collaboration.”

Meanwhile, Andrew Chia, cluster CEO of Indonesia and ASEAN markets at Standard Chartered, “We are proud to partner with Bukalapak to present BukaTabungan as one of the first digital banking services in Indonesia, which combines Bukalapak’s e-commerce ecosystem with the e-commerce banking expertise from Standard Chartered.”