Jago Syariah app is designed to make its users’ life easier, by presenting sharia digital banking that provides features as advanced as those of conventional banks.
Jakarta, 2 February 2023 - Following the launch of its sharia-based application in February 2022, PT Bank Jago Tbk through its Islamic Banking Unit (Jago Syariah) has launched the Deposito Jago Syariah product using the mudharabah muthlaqah contract.
Jago Syariah constantly learns customer’s needs in financial planning. One of these needs is for investment products based on sharia principles that are also connected with the ecosystem which consists of various advanced digital platforms in Indonesia.
For that reason, Jago Syariah launched sharia deposits to answer the needs of people who want investment products with better yield, safety, and the same quality as conventional banking. With sharia deposit, customers have a choice of sharia products and services that can be customized and personalized according to each needs.
Waasi B. Sumintardja, Head of Sharia Business Bank Jago explained that every individual is unique, with different dreams, needs, and purposes. This is reflected from the survey held byJago Syariah to some of the users regarding the purpose of saving in a bank. The survey result shows that 67% of Jago Syariah’s customers are saving up for emergency funds, 57% for children's education, and 43% for pension preparation.
Based on that survey, Jago Syariah is aware of the high customer’s needs towards deposit products with a better yield, affordable, accessible, and can be monitored regularly. “The most important thing, they need a flexible deposit, especially in terms of the amount of funds that can be deposited. With this new innovation based on sharia principles, we would like to take our customers one step closer to reach a life filled with more blessings”, he said.
Waasi explained that customers can open a deposit account only in minutes through the app with a minimum placement from Rp 1 million. For emergency needs, customers can withdraw the sharia deposit early without penalty. Everything is done in one app, no need to come to the bank branch.tg.
During the deposit product launch, a financial expert, Rista Zwestika Reni, shared her experiences and discussed how simple it is to manage finances with time deposit. In her opinion, sharia deposits can be utilized for investment and emergency funds while still prioritizing sharia principles.
“Pandemic has taught a lot of things. The most valuable lesson is the need for emergency funds that should have been prepared in advance, so when a crisis comes, the emergency funds can save our finances. The emergency funds can be prepared in any form as long as it is liquid, easy to withdraw, and the investment does not depreciate easily.. Therefore, a deposit can be an option to prepare emergency funds,” she said.
Aiming to provide digital sharia products and services as advanced as conventional banking, Bank Jago launched Jago Syariah - a sharia life-centric finance solution and embedded in the ecosystem.
With Jago Syariah, customers are able to experience innovation and excellent features, such as Pockets with a wadiah contract and the integrated ability with other digital ecosystems, including Gojek and Bibit.
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About Bank Jago
Formerly known as PT Bank Artos Indonesia Tbk (Bank Artos) in 1992. After more than 27 years of serving the society with the conventional banking products, in 2019 Bank Artos entered a new era with which was marked by the entry of PT Metamorfosis Ekosistem Indonesia (MEI) and Wealth Track Technology (WTT) as the new controlling shareholders after acquiring Bank Artos shares MEI (37,65%) and WTT (13,35%).
After the Limited Public Offering (Penawaran Umum Terbatas/PUT) phase II, the total ownership of MEI and WTT was 41,49%. The entry of institutional investors, such as GIC Pte. and GoTo financial, strengthened Bank Jago in providing the best financial solutions by continuously innovating.
Bank Jago was developed as a strong and innovative tech-based bank ready to serve the needs of customers from retail market (consumer), Small and Medium-sized Enterprises (SMEs), as well as the mass market, through banking products and services that are embedded in ecosystems by optimizing technology. Bank Jago enhances the growth of millions through life-focused digital financial solutions.
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Marchelo
Corporate Communication
PT Bank Jago Tbk
