Strengthening its collaboration with the GoTo ecosystem, Bank Jago and GoTo Financial have launched banking services to assist GoBiz business partners in managing their finances more effectively.
Jakarta, 9 August 2022 - PT Bank Jago Tbk (Bank Jago) is expanding financial access for Indonesian society by providing access to business partners affiliated with the GoBiz application, a part of the GoTo Group, Indonesia's largest digital ecosystem with 15.1 million business partners. This financial access simplifies banking services for culinary business partners in GoBiz provided by Bank Jago. Through this collaboration, Bank Jago and GoTo Financial are facilitating convenience for business partners to manage their finances smoothly and conveniently.
Initially, several services that can be accessed include opening a Bank Jago account, managing business finances using the Jago Pocket feature, and accessing financial services in the Jago App more easily from the GoBiz application. The service, named Jago Merchant by Bank Jago, is launched to meet various needs of MSMEs in general and GoBiz business partners in particular, who can gain many benefits in managing their business finances.
"The main goal of this collaboration is to provide financial services with as much added value as possible for business players. We want to play an active role in accelerating Indonesia's digital economic growth and contributing to post-pandemic economic recovery, especially for the MSME, retail, and mass market segments," said Kharim Siregar, CEO of Bank Jago.
The collaboration between Jago and GoBiz applications stems from the shared aspirations of Bank Jago and GoTo Financial to enhance the growth opportunities for business players through financial solutions that focus on their lives. According to data from the Demography Institute of the Faculty of Economics and Business, University of Indonesia in 2021, one of the main benefits experienced by MSMEs from partnerships with GoFood is the ease of operational management through the GoBiz application.
GoBiz users can enjoy facilities such as free administrative fees, free cash withdrawals at all ATMs, easy transfers, and competitive savings interest rates. The collaboration of banking services in the Jago application with the GoBiz application is expected to provide more added value that can help the operational efficiency of business players.
Bank Jago observes that one of the challenges faced by business players in developing their businesses is good financial management. Yet, this plays a crucial role in the development of MSMEs. Some examples of challenges they face include separating business funds from personal funds and consolidating sales proceeds that are often spread across various accounts.
"Bank Jago always listens to the financial challenges faced by the community, including among MSMEs and merchants in the digital ecosystem. Therefore, we offer the Jago application, which can be a supporting tool for them to manage their business finances more easily, collaboratively, and innovatively all in one application. Hopefully, they will become more adept at managing finances and developing their businesses," said Vincent C. Soegianto, Head of Merchant Business at Bank Jago.
Novi Tandjung, Head of the GoTo Financial Merchant Platform, explained that from the beginning, GoTo Financial through GoBiz aspired to drive the growth of MSMEs, which are the backbone of Indonesia's economy. "Through the collaboration between Bank Jago and GoTo Financial, we aim to provide various additional conveniences to support the productivity of business players so that they can scale up their businesses. Initially, the collaboration in the Jago and GoBiz applications will be available to culinary business partners in GoBiz, and then can be expanded to a wider range of business partners within other GoTo Financial ecosystems."
In line with this collaboration, Bank Jago and GoBiz will conduct a series of online and offline educational programs to enhance the financial literacy of GoBiz business partners who are part of the GoFood Partner Community (KOMPAG).
In the future, the collaboration between Bank Jago and GoTo Financial will be further deepened to provide financial solutions that can further accelerate the growth of MSMEs in Indonesia.
"Today’s collaboration is just the beginning. We will continue to offer comprehensive solutions for MSMEs to develop their businesses. We are committed to continually offering various new services and features to complement financial management solutions so that MSMEs can scale up their businesses," concluded Kharim.
About Bank Jago
Specifically built as a tech-based bank embedded within Indonesia’s digital ecosystem, Bank Jago aspires to enhance the growth of millions through life-centric digital financial solutions. Bank Jago develops banking products and services, both conventional and sharia, that can be used by everyone, including retail (consumer), mass market, or micro, small and medium enterprises (MSME).
Bank Jago develops Jago App, which is designed to be embedded within various digital ecosystems, and can be customized and personalized so it can be compatible with their ecosystems, and also with the users’ personal needs. The collaborations with various ecosystems enable users to live their life more conveniently.
About GoTo Financial
GoTo Financial, as part of the GoTo group - the largest technology group in Indonesia, is committed to building the future digital economy to help individuals and businesses grow and contribute to financial inclusivity in Indonesia.
Designed for all segments of society, GoTo Financial provides various financial products and services through the GoPay electronic money service. For businesses of various industries and scales, ranging from MSMEs, startups, to corporations, GoTo Financial offers comprehensive business solutions through Midtrans - a leading payment gateway, Moka and GoBiz PLUS - the largest POS network in Indonesia, as well as the GoBiz, GoStore, and Selly platforms, which can enhance online business efficiency.
For further information, please contact:
Marchelo
Corporate Communication
PT Bank Jago Tbk
