Standard Chartered has partnered with Bukalapak to launch innovative offerings to further advance its focus on digital banking.
Hosted on the nexus platform, a banking-as-a-service solution by Standard Chartered’s SC Ventures unit, the Bank will work with Bukalapak to expand access to financial services for consumers across the market, potentially positively impacting the lives of more than 200 million people in Indonesia.
Together they will offer an array of innovative financial services through Bukalapak’s ecosystem, Bringing innovation in financial and e-commerce services in Indonesia. With Bukalapak’s extensive coverage of 100 million users and 13.5 million sellers, the collaboration will boost financial inclusion and further support Indonesia’s digital economic growth.
A recent survey by Standard Chartered revealed the pandemic has acted as a catalyst for the growth of online financial activity, with over half of global respondents using more online services in a post-pandemic world. Additionally, 80% of Indonesians also expect the country to go fully cashless by 2025.
Andrew Chia, Cluster CEO, Indonesia & ASEAN Markets (Australia, Brunei & the Philippines), Standard Chartered, said:
“Our inaugural partnership with Bukalapak reaffirms Standard Chartered’s commitment to grow our footprint locally. We are confident that our partnership with one of Indonesia’s first tech unicorns and leading e-commerce players will enable us to co-create a solution that drives financial inclusion in Indonesia.”
Rachmat Kaimuddin, CEO Bukalapak, said:
“Our strategic partnership shows the trust and confidence from Standard Chartered on Bukalapak’s mission and commitment to create impact across Indonesia. Commerce and financial services are crucial aspects of the well-being of society, thus, the partnership increases our spirit to create A Fair Economy in Indonesia. With a strong global banking network and prestigious financial service business, Standard Chartered participation in Bukalapak will further strengthen our current strong group of shareholders and strategic partners.”
