Jakarta, 11 June 2024 - PT Bank Jago Tbk, together with the Financial Services Authority (OJK) and InvestorTrust media, organized a financial literacy and investment class at Bina Nusantara University on Tuesday (11/06/24), as part of a joint commitment to fostering a culture of wise financial management from an early age.
The speakers at the event that attended by dozens of students from various fields of study, featured Friderica Widyasari Dewi, Executive Head of Supervision of Financial Business Players’ Behavior, Education, and Consumer Protection at OJK, and Muhammad Pandu, Value Proposition Manager at Bank Jago.
During the session, Friderica expressed concern about the global phenomenon that has led young people to force lifestyles that do not align with their needs and abilities, such as fear of missing out (FOMO), belief in "you only live once" (YOLO), and fear of other people's opinions (FOPO).
"This phenomenon is also accompanied by a lack of knowledge and skills in managing finances wisely and correctly from an early age, which has led many young people to engage in illegal or fraudulent investments. That is why OJK invites all parties, especially financial service providers and educational institutions, to actively participate in improving financial literacy and inclusion in Indonesia," she explained.
Aligned with this, Bank Jago's Value Proposition Manager, Muhammad Pandu, provided training on financial literacy and encouraged students to honestly discuss their financial challenges.
Pandu identified four levels of financial maturity based on financial focus. The first level is financial security, ensuring financial stability to meet basic personal needs such as food, rent, or utilities.
The second level is financial resilience, having stronger financial resilience with income not only sufficient for daily needs but also emergency funds for unexpected events.
"The next level is financial control, where individuals have their own income and are no longer dependent on others, usually starting to build long-term savings," Pandu clarified.
The final level is financial freedom. “At this level, financial issues are generally resolved, there is a retirement fund, and one can bring happiness to those around them,” he elaborated.
"Therefore, concern for various financial issues faced by Indonesian society is the foundation for the emergence of Bank Jago as a technology-based bank embedded in the digital ecosystems," Pandu remarked.
According to him, everyone has their own problems and needs, and also their own way of managing finances. This is why the Jago App is designed to allow customers to easily and seamlessly design their own financial solutions, connected with the strength of the digital ecosystem, including Gopay, Gojek, Tokopedia, as well as Bibit and Stockbit for investments.
"Through unique features in the Jago and Jago Syariah apps, Bank Jago aims for its services and products to serve as digital financial solutions that are specifically designed to focus on the lives of the digital community," Pandu concluded.