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Standard Chartered and Bukalapak Launch Digital Banking Service

The Fintech Times are reporting on the collaboration of Bukalapak and Standard Chartered Bank to launch a digital banking platform in Indonesia. Called BukaTabungan, the service boasts its paperless onboarding process delivering accounts in five minutes.

BukaTabungan combines Bukalapak’s all-commerce platform and the technology of nexus, a banking-as-a-service (BaaS) solution powered by Standard Chartered.

The Fintech Times goes on to say that Bukalapak, which currently serves 6.8-million online merchants through its marketplace, first announced a strategic partnership with Standard Chartered in January 2021. They revealed plans to launch innovative offerings in efforts to advance their focus on digital banking, and widen financial inclusion to the country’s underbanked segment.

Andrew Chia, Cluster CEO, Indonesia and ASEAN Markets (Australia, Brunei, and the Philippines), Standard Chartered, said: “This partnership will advance the digital banking services landscape and technology ecosystem; particularly through the adoption of nexus, our banking-as-a-service solution.

“We hope the services offered by BukaTabungan will be well received by everyone in Indonesia, bringing us closer to achieving our shared mission of improving financial inclusion for all Indonesians,” say The Fintech Times.

Victor Lesmana, President, Commerce & Fintech at Bukalapak, added: “BukaTabungan will be an interesting product because now, everyone in Indonesia within all levels of society will be able to access world-class digital banking services seamlessly and securely.

Business owners now also have access to financial services to support their business from a reputable financial institution. We are very excited because this is in line with our mission to support the growth of MSMEs in Indonesia and continue to expand financial inclusion across the country. Our greatest appreciation to Standard Chartered for the trust and shared passion in this collaboration.”

Opening an account with BukaTabungan uses automation and security technologies employing artificial intelligence, biometric facial recognition and E-KTP (Indonesia’s biometrics-enabled ID programme) validation.

Until the end of October 2022, BukaTabungan users can also enjoy several promotional offers, including bonus interest of up to seven per cent on savings, direct cashback worth IDR 100,000-for each successful account opened, a special referral programme for Bukalapak users, and special discounts for Bukalapak and Mitra Bukalapak users.

 

Source: The Fintech Times

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Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

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Ridwan Jasin Zachrie

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Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

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Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

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