Indosat Ooredoo Hutchison & Bank Saqu partner for digital inclusion in Indonesia

By Gloria Methri

Indosat Ooredoo Hutchison (IOH), the digital telco of Indonesia and Bank Saqu, has allied with Bank Saqu, the digital banking service offered by PT Bank Jasa Jakarta.

This collaboration aims to improve digital financial inclusion across the country by combining IOH’s extensive customer base with the unique needs of Bank Saqu’s clientele, of which 40% are solopreneurs seeking digital solutions.

Bank Saqu’s digital banking services have been integrated into the IOH apps, ensuring that users can access a wider range of financial solutions alongside their regular connectivity services. The integration not only streamlines user experience but also facilitates easier access to essential banking services. IOH’s customer insights and propensity models will be employed to tailor financial solutions to users’ needs, with a focus on enhancing accessibility while safeguarding user privacy.

This alliance represents a significant step in addressing the evolving needs of the digital economy in Indonesia. By leveraging the strengths of both IOH and Bank Saqu, the partnership is set to explore new opportunities to support financial inclusion and cater to the growing demand for digital banking solutions.

Ritesh Kumar Singh, director and chief commercial officer of Indosat Ooredoo Hutchison, stated, “Our innovative alliance with Bank Saqu is a testament to our commitment to delivering a world-class digital experience that empowers Indonesians. With the customers’ insights and propensity model, we can effectively reach the right users.”

Leo Koesmanto, president director of PT Bank Jasa Jakarta, shared, “We believe that cross-industry collaboration is crucial for advancing financial inclusion in Indonesia. As a financial partner, we are committed to helping individuals, especially solopreneurs, manage their finances with ease and witness their businesses flourish through tailored services that foster positive financial habits.”

The collaboration introduces innovative banking features to Indosat’s customers, encouraging responsible money management and effortless saving habits. One such feature is Tabung Matic, Indonesia’s first automatic savings tool. This round-up saver function seamlessly integrates with daily transactions, automatically rounding up purchases made via QRIS in the Bank Saqu app and storing the spare change in Saku Booster. This rewards pocket offers attractive interest rates of up to 10% per year, subject to terms and conditions.