Bank Saqu, an online banking service, was launched by PT Bank Jasa Jakarta (BJJ), which has been owned by Astra Financial and WeLab since 2022. Its aim is to become the preferred financial partner for individuals and SMEs in Indonesia.
Prijono Sugiarto, the President Commissioner of PT Astra International Tbk, was present at the Bank Saqu launch event. The Directors and Executives of Bank Jasa Jakarta, Astra, WeLab, Suparno Djasmin, Simon Loong, Founder & Group CEO of WeLab, Ernest Leung, Group COO, Leo Koesmanto.
According to Suparno Djasmin, Director of Astra and Director-in-Charge of the company:
“Bank Saqu’s existence reflects our commitment to providing high-quality financial services to the financial sector, SMEs, and societal well-being. This strengthens Astra Group’s financial services ecosystem and supports initiatives to enhance financial education and inclusion in Indonesia.”
Every new company within the Astra Group is expected to make a meaningful contribution to all stakeholders, as stated by Suparno Djasmin.
Furthermore, each product and action taken by the company aligns with Astra’s vision, particularly the idea of advancing prosperity alongside the nation. Astra Financial seeks partnerships with banks like Bank Saqu to enhance the well-being of the Indonesian populace.
Meanwhile, Simon Loong, the Founder and Group CEO of WeLab, mentioned:
“Bank Saqu, WeLab’s next online bank in Asia, is set to launch, in line with our strategic objective to expand our presence and provide technology-driven financial services, starting from Hong Kong and now in Indonesia.”
Bank Saqu Primarily Targets the Solopreneur Market
From BJJ’s perspective, Bank Saqu aims to become a sought-after Financial and SME Bank, founded on strong communities and integrated financial features, propelling Indonesia’s digital economy forward.
The name “Bank Saqu” phonetically resembles “Bangsa-ku,” meaning “my nation,” reflecting its aspiration to be the preferred financial service provider for the Indonesian people. It also incorporates “Saku,” meaning “pockets,” highlighting one of its flagship features related to savings pockets.
Bank Saqu specifically caters to the younger generation, especially solopreneurs in Indonesia, including small business owners, freelancers, and full-time professionals with side jobs.
This segment actively seeks ways to expand, save, invest, or utilize its resources for future success.
According to a study titled “Solopreneur: Indonesia’s New Economic Force — An Untapped Opportunity” conducted by Segarra Research Institute in 2023, it is estimated that there will be approximately 117 million solopreneurs by 2030, with 1 out of 3 Indonesians engaged in solopreneurship. This sector is expected to contribute to 36% of future GDP. However, solopreneurs often face challenges such as irregular income and complex financial management.