Indosat Ooredoo Hutchison and Bank Saqu have formed a groundbreaking partnership to advance digital financial inclusion across Indonesia.
· The alliance combines Indosat’s broad customer base and Bank Saqu’s digital banking services.
· Bank Saqu’s services are integrated into Indosat’s mobile apps to make financial solutions more accessible.
· The collaboration focuses on serving solopreneurs and addressing Indonesia’s digital financial gap.
In a move set to transform digital financial inclusion, Indosat Ooredoo Hutchison (IOH), a leading Indonesian telecommunications provider, and Bank Saqu, a digital banking service of PT Bank Jasa Jakarta, have partnered to provide enhanced financial services. By providing Bank Saqu’s innovative banking services to IOH’s large customer base, the two organisations aim to providedigital-first financial solutions to Indonesia’s underserved population, especially solopreneurs and small businesses.
Leveraging digital yynergies for financial access
This partnership aims to close the financial gap by providing a seamless mobile banking experience . IOH's inclusion of Bank Saqu's services in its apps guarantees that customers can easily access a variety of financial tools.
Through customer data insights, the partnership hopes to make financial products and services specific to individuals' needs and expenditure . The personalised service can help customers manage their money more effectively while promoting healthy financial behaviour.
Tackling Indonesia's digital and financial gap
Even with Indonesia's large and young population, the penetration of the internet is only 78%, restraining access to financial services in digital form. On top of this, 80% of the population of Indonesia is either underbanked or unbanked, making it impossible for many to effectively join the digital economy. IOH's partnership with Bank Saqu aims at overcoming these challenges by providing affordable banking services and increasing financial literacy with the help of technology.
One of the standout features brought about by this collaboration is Tabung Matic, which automatically rounds up users' Quick Response Code Indonesia Standard (QRIS) transactions to the nearest rupiah and locks away the loose change in a high-interest savings account. This
feature drives improved money management and assists users in saving without any additional effort.
This partnership puts Indonesia on the right track to wideningfinancial accessibility, especially as solopreneurs are expectedto reach 117 million by 2030. With Indonesia progressing towards a digital age, initiatives such as these will go a long way to bridging the country’s financial inclusion gap .