Platforms Featured Southeast Asia

Gojek’s Bank Jago investment a move in Indonesia’s financial inclusion

Jakarta, Indonesia – Technology group Gojek has announced its investment to technology-based Bank Jago as part of a strategic partnership for Indonesia’s accelerated financial inclusion.

Within the partnership, Gojek and Bank Jago aim to bring digital banking closer to users through Gojek’s payment platform GoPay. Users can now open a Bank Jago account and manage it through the Gojek app. The partnership will also act as a model through which Gojek will go on to partner with other banking institutions to support them in reaching more customers.

For Gojek CEO Andre Soelistyo, the newly-forged partnership is a strategic move to get banks working for the superapp, hence leveraging Gojek’s purpose to be an accessible financial platform for Indonesians.

“Our partnership with Jago marks the latest milestone in our drive to reduce daily friction for users and improve their lives through technology. It is a key part of our strategy and will underpin the growth and sustainability of our business in the long term. Jago’s tech-based banking solutions will supercharge Gojek’s ecosystem offerings and facilitate access to banking services for the mass market, thereby supporting our common vision to accelerate financial inclusion in Indonesia,” Soelistyo stated.

The investment, made through Gojek’s financial and investment arm, would mean that 22% of Bank Jago will be held by Gojek.

On the other hand, Bank Jago’s president director Kharim Siregar, expressed high hopes for the new partnership, as it complements the Bank’s broad expertise to Indonesian financial needs.

“We believe that this strategic collaboration – between a tech-based bank like Bank Jago and a Super App like Gojek – is the first of its kind in Indonesia and Southeast Asia and represents a new way to spur growth in digital economies. As a bank designed with an open API, we will go on to work with multiple digital ecosystems to reach a wider audience and drive our aspiration to enhance the finances of millions of people through digital financial solutions,” said Siregar.

Technology Featured Southeast Asia

Fintech KiplePay, local holdings Digital Perak team up for cashless transaction in Perak state

Perak, Malaysia – In a move towards a cashless society in the Malaysian state of Perak, Malaysian fintech startup KiplePay and local holdings Digital Perak recently collaborated for the development of a unified payment platform for cashless convenience among citizens and merchants for their government and business transactions.

For the initial phase, citizens can pay for their availed services within the locality through the Digital Perak web portal. Services include training courses, co-working space, computer lab, and office service rental on local multimedia hub Hub Innovasi and Multimedia (HiM). They can also pay for services such as asset booking, quit rent and summon payment with agencies, municipal councils, and other Government Linked Companies (GLC) within the state.

As for businesses, those that are registered under S.M.A.R.T Niaga@Perak, Digital Perak’s program for trading items locally, may now provide cashless transactions for in-store and online transactions. Merchants may also use KiplePay’s merchant app for in-store transactions, while online transactions are processed through theKipleBiz Unified Payment platform. Said platform will support multiple gateway payment services, including online banking, e-wallet, and debit/credit card.

“Today’s collaboration with KiplePay is part of our effort towards achieving the aspiration of the national policy on Industrial Revolution 4.0 to automate all services of the state government via the internet. A seamless transition is important as it involves all stakeholders in the state and this will set the benchmark for digital transformation agenda for the businesses and government services,” said Meor Rezal Fitri bin Dato’ Dr Hj Meor Redwan, chief executive officer of Digital Perak