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Indonesia to drive digital bank growth as Gojek, Sea move into fintech


With the
recent announcement that Indonesia’s Bank Jago will go fully digital, the trend
of digital banking is on track to open up financial services to populations
across the archipelago who have so far struggled to see benefits from
traditional banks.
Indonesia’s
Bank Jago is set to become the country’s first fully digitized bank. While the
bank will provide traditional services for accounts, deposits, loans and
investments, the bank will not have any physical branches or ATMs. Bank Jago
will provide services exclusively online.
In December
2020, the bank announced that it would expand its existing strategic
partnership with ride hailing service Gojek in order to collaborate on financial ....

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