WeLab Digital Bank Unit in Indonesia Reached A Million Customers

WeLab Digital Bank Unit in Indonesia Reached A Million Customers

by June 3, 2024

Bank Saqu, the Indonesian digital bank developed through a strategic partnership between WeLab and Astra Financial, has achieved a milestone of one million customers within six months of its launch. This rapid growth underscores the increasing demand for digital banking solutions in Indonesia.

Launched in November 2023 and operated by PT Bank Jasa Jakarta, Bank Saqu targets explicitly young entrepreneurs, small business owners, and freelancers.

The WeLab digital bank unit saw impressive user adoption rates, with over half a million new customers within the first three months of its operation. It has now doubled that number, reaching one million customers.

Bank Saqu offers a range of features designed to meet its customers’ unique financial management needs. Users can open up to 20 customised sections within the app, allowing for tailored financial management.

Additionally, the bank introduced ‘Busposito,’ a social savings product that encourages community engagement to increase savings interest rates.

Bank Saqu’s success reflects its commitment to providing cutting-edge digital banking services and its role in fostering financial inclusion in Indonesia. As the bank continues to grow, it remains dedicated to meeting the evolving needs of its customers and driving further innovation in the digital banking sector.

Featured image credit: Edited from FreePik