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Astra Financial, WeLab team up to launch new digital banking service in Indonesia

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Teddy Cambosa

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6 months ago

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Jakarta, Indonesia – Bank Jasa Jakarta (BJJ), owned by Astra Financial and WeLab since 2022, have announced the launch of Bank Saqu, a digital banking service, as a financial partner for individuals and SMEs in Indonesia with a solopreneur spirit.

The establishment of Bank Saqu aligns with BJJ’s vision to emerge as a leading retail and SME bank, anchored in robust ecosystems and integrated financial capabilities, propelling Indonesia’s digital economy forward.

The name “Bank Saqu” phonetically resembles ‘Bangsa-ku,’ translating to ‘my nation,’ symbolizing the aspiration to be the preferred financial service for the Indonesian populace. Additionally, ‘Saku,’ meaning ‘pockets,’ is a nod to one of the flagship features, emphasizing the commitment to cater to individual savings needs.

Bank Saqu is strategically designed to cater to the dynamic needs of the younger generation, particularly targeting solopreneurs in Indonesia. This demographic includes small business proprietors, freelancers, and even full-time employees engaged in side hustles. Eager to proactively explore avenues for growth, increased savings, expanded investments, or securing loans for productive endeavours, this segment aims to accomplish more in their future financial endeavours.

Suparno Djasmin, director of Astra and director-in-charge at Astra Financial said, “The presence of Bank Saqu is a manifestation of our aspirations to provide prime and leading financial services for the retail segment and SME and the welfare of society. This has complemented and strengthened the Astra Group’s financial services ecosystem, as well as supporting efforts to increase financial literacy and inclusion in Indonesia.”

Meanwhile, Simon Loong, founder and group CEO at WeLab, commented, “We are excited to see the launch of Bank Saqu, WeLab’s second digital bank in Asia, which aligns with the strategic focus on expanding our presence and delivering tech-driven financial services, having started in Hong Kong, and now Indonesia.”

He added, “We have greatly accelerated the delivery of this new digital bank system, from 18-24 months for most market players, to a record time of 6 months riding on our proven digital banking technology and know-how behind our first licensed digital bank in Hong Kong. Together with Astra, we look forward to leveraging our complementary strengths to propel the growth of Bank Saqu and contribute to the Indonesian banking industry digitalization.”

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Video Title Here: The Indonesian on-ground activation status

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Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.