Opening a bank account does require careful consideration as it has a big impact on everyday life. It would be quite a hassle, for example, when you want to print a passbook but have to wait for a bank branch to open during operating hours. But, it doesn’t have to be a hassle anymore if you have switched to or have an account at a digital bank.
Security in Digital Banking
Before knowing the various conveniences that can be enjoyed by opening an account with a digital bank, some of you may be wondering about the security in digital banking. How secure is a digital bank?
Digital banks, in contrast to traditional banks, only have very few branches or maybe no branches at all. But, you don't need to worry about the security of transactions in digital banking.
"In Indonesia, regulators do not distinguish between digital and non-digital banks. If you call yourself a bank, then it is definitely regulated by the Financial Services Authority (OJK). All products and technology used by banks must obtain permission from the OJK," said Bank Jago Head of Treasury Yoyo Cahyadi.
Customer Protection: As a digital bank, is Bank Jago guaranteed by LPS?
Bank Jago is an LPS guarantee participant. So, you can rest easy saving money at Bank Jago because LPS guarantees what you save at Bank Jago (such as savings and deposits) up to a maximum of Rp2 billion per customer, as long as the interest rate does not exceed the guaranteed interest rate. Click here to find out the interest rate guaranteed by LPS.
In other words, the amount of customer savings guaranteed by LPS applies not only to conventional banks, but also digital banks. Apart from that, as a bank customer, you are obliged to meet the requirements so that your savings at the bank are guaranteed in addition to the requirements for the amount of the savings.
How is digital bank security system like?
If you open an account at Bank Jago, a digital bank in Indonesia, you can enjoy worry-free transactions through the Jago application. The Security & Control feature in the Jago application relies on advanced technology that prioritizes layers of security, whether you top up your e-Wallet, shop online or offline, transfer money, pay routine or recurring bills and complete various other transactions.
Two-factor authentication and biometric authentication are among the sub-features that you can take advantage of. You can also set transaction notifications, transaction limits and register devices connected to your Jago account to avoid suspicious or unwanted activities.
You can read the complete sub-features of Jago’s Security & Control here.
In addition to the technological sophistication that provides protection and a sense of security when making transactions provided by digital banking, you can also maintain the security of your account and be aware of fraudulent techniques of skimming, social engineering as well as phishing and malware attacks.
3 Main Conveniences Offered by Jago, a Digital Bank in Indonesia
1. 24/7 access
Being able to use banking services at anytime and from anywhere is one of the greatest conveniences that can be enjoyed when opening a digital bank account.
You can create a Jago account in minutes directly from the application if you have provided the required documents. Sunday, midnight, whenever you want, you can create it right away. It's different from traditional banks where you have to stop by a branch, which means you have to wait for the operational hours.
"By having an account at a digital bank such as Bank Jago, the bank branch is on the customer's smartphone. In other words, customers can take the bank branch anywhere they go. Every time you want to make a transaction, you just have to log into the Jago application on your smartphone," Yoyo explained.
In addition, with Jago, you can download e-Statements, make transfers and check savings balances anytime and anywhere directly from the application, which will certainly save your precious time. Other transactions such as topping up e-Wallets and creating visa debit cards can also be done directly from the application.
2. Helpful features
Digital banking offers a variety of helpful features that can enrich your experience in managing finances.
Jago presents a feature called the Pocket that makes budgeting easy and practical. You can separate funds for various needs into their respective Pockets. For savings, Jago allows you to create up to 20 Saving Pockets. Meanwhile for expenses such as daily necessities, snacks, transportation and bill payments, you can create 20 Spending Pockets. And, the nice thing is, each Pocket has its own account number, which is free of monthly admin fees.
Another example of a feature in Jago that can be of great help in managing expenses is the Spend Analysis. Each expense will be recorded automatically and can be grouped into their respective categories. At the end of the month you can see the total expenses as a whole or per category without you manually taking note of each expense again.
3. Control over money
Another convenience that you can experience by having a digital bank account like Jago is control over money the way you want it. If you want to move money from one Pocket to another, you can do it quickly, without having to go to an ATM.
You can also easily activate or block the Jago Visa Debit Card from the application without the need to get in touch with customer service. To ensure that your savings grow every month, you can use the Auto-Budgeting feature that is available in each Saving Pocket.
Save and Spend the Way You Want with Jago
Jago with all the conveniences offered can help you manage your finances more easily, control your expenses better and take advantage of features that are not available when you access traditional banking services. Jago is also the practical solution in the midst of busyness and various daily routines.
Ready to Manage Finances with Jago? Register for a Jago Bank Account Directly via the Jago application
Without needing to stop by Bank Jago, you can immediately register to have a Jago account via the Jago application. Make sure your internet connection is stable and all necessary documents such as personal identification (KTP) have been prepared. At any time and from anywhere, you can register with Bank Jago. Jago customer service is available 24/7 to help you if you experience problems.
