Digital wallet GoPay is teaming with Bank Jago, the technology bank from Indonesia, to work on more streamlined digital banking to help the vast number of unbanked and underbanked people in the country, a press release says.
Under the partnership, the Gojek application will enable customers to open a Jago bank account right away.
That will allow for more access to digital banking. The release notes that when the accounts are opened, GoPay Jago users won’t have to pay top-up fees when moving funds, which should add more convenience as well.
Hans Patuwo, CEO of GoPay, said the idea behind the partnership was to help bring more widespread banking access.
“Accelerating financial inclusion in Indonesia has been GoPay’s mission from day one, so today’s integration with Jago is a true game changer for us,” he said. “It marks a new phase in our efforts to bring digital financial services to more people, as we provide convenient access to banking for millions across the country and help them kickstart their financial planning journeys. We will continue to work with Jago and other financial institutions, leveraging our respective strengths to deliver a truly unique, frictionless financial management experience for consumers from all levels of society.”
The release notes that only 61.7% of Indonesians have a bank account, and cites a study by the Demographic Institute of the University of Indonesia that showed one in five GoPay users don’t have or use a bank account very often.
But the surveys found that digital services could be easier to use for those people.
PYMNTS reported earlier this year that Bank Jago, in partnership with Gojek, was working on making user profiles from tech data to make new finance products to help more specifically in various peoples’ lifestyles.
Jago CEO Kharim Indra Gupta Siregar said the daily lifestyles “can be information for us.”