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Financial Sector: Digital Banks Will Soon Become a Reality for Indonesians


Digital banks will soon become a reality for Indonesians. Chief Executive of Banking Supervision of Indonesia s Financial Services Authority (in Indonesian:
Otoritas Jasa Keuangan, or OJK) Heru Kristiyana recently confirmed that this supervisory agency is currently drafting regulations for the establishment of digital banks in Indonesia.
According to Kristiyana, the OJK will open opportunities for the establishment of digital banks in the following (three) ways:
· In the form of a (business) unit of an existing conventional bank,
· In the form of a conventional bank that is converted into a digital bank,
· A bank that is established as a digital bank since its inception. ....

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Indonesia to drive digital bank growth as Gojek, Sea move into fintech


With the
recent announcement that Indonesia’s Bank Jago will go fully digital, the trend
of digital banking is on track to open up financial services to populations
across the archipelago who have so far struggled to see benefits from
traditional banks.
Indonesia’s
Bank Jago is set to become the country’s first fully digitized bank. While the
bank will provide traditional services for accounts, deposits, loans and
investments, the bank will not have any physical branches or ATMs. Bank Jago
will provide services exclusively online.
In December
2020, the bank announced that it would expand its existing strategic
partnership with ride hailing service Gojek in order to collaborate on financial ....

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GIC reportedly buying 9% of Indonesia's Bank Jago to tap Digital Banking Business -Asian Wealth Management and Asian Private Banking


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