PT Bank Jasa Jakarta (BJJ), owned by Astra Financial and WeLab since 2022, launched Bank Saqu, a digital banking service, as a financial partner for individuals and SMEs in Indonesia with a solopreneur spirit.
At the launch ceremony of Bank Saqu, it was “attended by Prijono Sugiarto, President Commissioner of PT Astra International Tbk. (Astra); Djony Bunarto Tjondro, President Director of Astra; Suparno Djasmin, Director of Astra; Simon Loong, Founder & Group CEO of WeLab; Ernest Leung, Group COO of WeLab; Leo Koesmanto, President Director of Bank Jasa Jakarta, as well as the Directors and Executives of Bank Jasa Jakarta, Astra and WeLab.”
Suparno Djasmin, Director of Astra and Director-in-Charge of Astra Financial said:
“The presence of Bank Saqu is a manifestation of our aspirations to provide prime and leading financial services for the retail segment and SME and the welfare of society. This has complemented and strengthened the Astra Group’s financial services ecosystem, as well as supporting efforts to increase financial literacy and inclusion in Indonesia.”
Suparno Djasmin explained that each new business “within the Astra Group expected to contribute optimally to all stakeholders.”
In addition, every step of the business unit is “always directed in accordance with Astra’s aspirations, namely, prosperity together with the nation. In the scope of Astra Financial such as Bank Saqu, Astra wants its presence to become a financial partner for the welfare of the Indonesian society.”
Meanwhile, Simon Loong, Founder and Group CEO of WeLab said:
“We are excited to see the launch of Bank Saqu, WeLab’s second digital bank in Asia, which aligns with the strategic focus on expanding our presence and delivering tech-driven financial services, having started in Hong Kong, and now Indonesia.”
Bank Saqu Targets the Solopreneur Segment
The launch of Bank Saqu is “in line with the vision of BJJ to become a preferred Retail and SME Bank, built on strong ecosystems and integrated financial functions, driving Indonesia’s digital economy forward.”
The name Bank Saqu itself phonetically “sounds like ‘Bangsa-ku’, meaning ‘my nation’ and reflecting the aspiration to be the financial service of choice for the Indonesian people, and also ‘Saku,’ meaning ‘pockets’ and relating to one of the flagship features of the saving pocket.”
Bank Saqu targets the younger generation, “especially solopreneurs in Indonesia, encompassing small business owners, freelancers, and even full-time employees juggling side hustles.”
This segment proactively seeks ways “to grow, save more, invest more, or even borrow for productive efforts, to achieve more in the future.”
According to the study “Solopreneur: Indonesia’s New Economic Force — An Untapped Opportunity” conducted by Segarra Research Institute in 2023, “it is estimated there will be around 117 million of solopreneurs by 2030, whereby 1 out of 3 Indonesians will engage in solopreneurship, contributing to 36% to future GDP. However, they often face challenges like inconsistent income and complicated financial management.”