back Back

FinTech JULO launches JULO Cares to boost financial inclusion in Indonesia

By Gloria Mathias

December 26, 2023

  • APAC
  • APAC news
  • Credit Card
Share

JULO, JULO Turbo, Indonesia, FinTech, Credit Card, Instant Payments, Virtual credit Card, Cards management, Liquidity Management, Financial Platform, Online Payments Platform, Digital Payments, Instant Digital payments, Credit Card payments, Rewards, Indonesia news, FinTech news, Indonesia FinTech News, APAC News, Forever Credit, JULO Cares, Insurance Platform, Indonesia, APAC JULO, an Indonesian peer-to-peer financial technology company, has launched JULO Cares, an insurance cover embedded within the core JULO digital credit solution.

This benefit launched under the JULO Cares platform provides ongoing device protection to users when they avail of JULO’s digital credit. Under JULO Cares, the JULO Protect+ service enables insurance access through the utilisation of digital credit.

The general insurance penetration rate in Indonesia is low at 2.75 % and the Indonesian government aims to increase this to 3.2% by 2027, according to the Indonesia Financial Services Authority. Lack of literacy and the affordability of insurance premiums are the primary reasons for this low penetration.

Chief Business Officer of JULO Group, Nimish Dwivedi stated, “We aim to add a layer of insurance inclusion to financial inclusion. With JULO Cares, we provide a unique gadget protection cover to our valued users. This embedded insurance cover gets auto-activated as part of the transaction flow itself when customers are using JULO’s digital credit. Once activated, this cover protects their existing smartphone against all forms of device damage, ranging from dropping their phone by accident to incidents of phone theft. With this protection, we aim to ensure that our valued customers never lose access to their JULO app.”

“JULO Cares offers unique and helpful benefits to our customers. This also includes an Accident Protection Cover, in partnership with the Indonesia Social Security Agency for Employment. We are committed to continuously expanding our range of protection options under the JULO Cares platform,” said CEO & co-founder of JULO, Adrianus Hitijahubessy.

Throughout 2023, JULO has been launching various products and features to empower underbanked and unbanked individuals in Indonesia. These include JULO Turbo, a product that provides instant credit from download to disbursement in just 5 minutes, and JULO Education, which provides education financing across any school, any college, and any online course in Indonesia.

“Through JULO Cares, we want to give our valued customers not just financial benefits but peace of mind,” added Nimish.

Previous Article

December 26, 2023

5 FinTech funding rounds reported in Europe in December 2023

Read More
Next Article

December 26, 2023

LAB Group brings automated digital onboarding to Ironbark Asset Management

Read More








IBSi Daily News Analysis

digital wallets

March 01, 2024

APAC

Banking Sector and regulatory framework: addressing India’s growing demand for secure lockers

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 01, 2024

Hecto Financial eases cross-border transactions with new solution

Read More

March 01, 2024

Marqeta & AffiniPay team to launch SMB credit card solution

Read More

March 01, 2024

AsiaVerify & Visa to bolster digital payments and banking in APAC

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023