Astra Financial and WeLab Launch Bank Saqu as an Innovative Digital Banking Service

20 Nov 2023

  • Astra Financial and WeLab, as shareholders, support PT Bank Jasa Jakarta in launching Bank Saqu to drive the growth and innovation in financial technology through digital banking services.
  • Bank Saqu emerges as a digital banking service that is designed to meet the needs of local individuals and SMEs with a solopreneur spirit.
  • According to a recent study "Solopreneur Study: Potential New Strengths of the Indonesian Economy", 1 in 3 Indonesians will become a solopreneur by 2030.
  • Bank Saqu provides an intuitive and versatile tool to help customers manage their money at ease. They can create up to 20 customized pockets for their side-hustles income and expenses.

Jakarta / Hong Kong – November 20, 2023PT Bank Jasa Jakarta (BJJ), owned by Astra Financial and WeLab since 2022, today 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.

WeLab 2nd Digital Bank - Bank Saqu Launched

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.”

“We have greatly accelerated the delivery of this new digital bank system, from 18-24 months for most market players, to a record time of 6 months riding on our proven digital banking technology and knowhow behind our first licensed digital bank in Hong Kong. Together with Astra, we look forward to leveraging our complementary strengths to propel the growth of Bank Saqu and contribute to the Indonesian banking industry digitalization,” Simon Loong added.

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.

First-in-Indonesia Savings Product that Harnesses the Power of Community

In the same occasion, Leo Koesmanto, President Director of Bank Jasa Jakarta, said "Our services are created to redefine how solopreneur should manage their money, both in personal and business. With multiple distinct pockets (Saku) within a single banking app, solopreneurs can strategically manage their finances, allocate resources, and witness their businesses flourish.”

Leo added that with local market insights and the extensive ecosystem coverage of Astra, both offline and online, along with the technological expertise brought by WeLab, Bank Saqu will have various unique advantages in the digital financial services landscape in Indonesia.

As the financial partner for the solopreneurs, Bank Saqu's goal goes beyond offering customized products to customers; it also focuses on financial education and providing a seamless experience to empower solopreneur-spirited individuals on their financial journey.

Some of Bank Saqu main features are:

  • Saku (pocket): An intuitive and versatile tool to help manage your money at ease. Create up to 20 customized pockets for your side-hustles income and expenses, day-to-day spending, savings, and financial goals.
  • Busposito (social savings product): First-in-Indonesia savings product that harnesses the power of community. Customers can drive up the interest rate in a fun way with their family, friends, or the whole Bank Saqu community. More people joining Busposito, means that everyone can earn higher rate of up to 7% p.a¹.
  • Tabungmatic (round-up saver): Effortlessly boost your savings, by turning on the Tabungmatic feature, to round up your purchases. Your round up QRIS payments will be rewarded in a Saku Booster to earn a higher interest rate, up to 10% p.a.¹ to effortlessly smash your savings goals (terms and conditions apply).
  • Rewarding Missions: Bank with Bank Saqu and be rewarded every step of the way. Complete a list of missions to earn rewards, e.g., account opening, BI-FAST transfers, pay with QRIS, referring friends and family, and earn up to Rp1 Million bonus cash per day² (terms and conditions apply).
  • Saku Booster (rewards pocket): A designated pocket to store all the cashback you earned from Bank Saqu and round-up savings, the cashback at Saku Booster can earn a higher interest rate of up to 10% p.a.¹ (terms and conditions apply)

¹ the above interest rate are applicable as of the date of this press release. For details, please refer to the relevant terms and conditions

² for details of reward mission, please refer to the relevant terms and conditions

Bank Saqu is now available for download through the Google Play Store and Apple Store. With just a few clicks, a Bank Saqu account can be created in minutes to start your innovative financial journey, boost savings and earn daily rewards immediately.


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About Astra Financial

Astra Financial is a brand within the financial services division of PT Astra International Tbk, with total assets amounting to Rp 166 trillion as of December 2022. Astra Financial has served over 24.7 million customers, supported by more than 29,000 employees and 910 networks throughout the archipelago. Operating across nine industries, Astra Financial manages 14 business entities, including Consumer Financing (FIFGROUP, ACC, and TAF), Insurance (Asuransi Astra and Astra Life), Heavy Equipment Financing (KAF and SANF), Fintech (MauCash), E-Money (AstraPay), Digital Ventures (MOXA and SEVA), Venture Capital (Astra Ventura), Pension Fund (Dana Pensiun Astra), and Banking (Bank Jasa Jakarta). For more information, please visit our website at

About WeLab

WeLab, a leading pan-Asian fintech platform, operates WeLab Bank as well as multiple online financial services with leading positions in Hong Kong, Mainland China, and Indonesia, with over 60 million individual users and over 700 enterprise customers. WeLab uses game-changing technology to help customers access credit, save money, and enjoy their financial journey.

Powered by proprietary risk management technology, patented privacy computing techniques, and advanced AI capabilities, WeLab offers mobile-based consumer financing solutions and digital banking services to retail individuals and technology solutions to enterprise customers.

WeLab operates in three markets under multiple brands, including WeLend, and WeLab Bank in Hong Kong, various business lines in Mainland China, Maucash and Bank Jasa Jakarta in Indonesia.

WeLab is backed by the most renowned investors including Allianz, China Construction Bank International, International Finance Corporation (a member of the World Bank Group), CK Hutchison’s TOM Group, and Sequoia Capital.

To learn more, please visit:, or follow WeLab on LinkedIn and Facebook

About Bank Jasa Jakarta

Established in 1984, Bank Jasa Jakarta focuses on serving the retail and Small and Medium-sized Enterprises (SME) segments. Bank Jasa Jakarta is a partnership between Astra Financial and WeLab. Through a spirit of collaboration, Bank Jasa Jakarta maintains a strong performance trajectory. The bank boasts an ATM network integrated into the Prima and Alto networks, spread across major cities in Indonesia, along with 13 subsidiary branch offices to serve customers. For further information, please visit the official Bank Jasa Jakarta website at

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