• About
  • Subscribe
  • Contact
Thursday, May 8, 2025
    Login
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
No Result
View All Result
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
No Result
View All Result
No Result
View All Result
Home Industry Verticals Finance & Insurance

Standard Chartered-Bukalapak combo to foster financial inclusion in Indonesia

FutureCIO Editors by FutureCIO Editors
January 16, 2021
Image supplied by Standard Chartered

Image supplied by Standard Chartered

Most successful eCommerce companies have a few common denominators: a broad portfolio of products and services, user friendly interface and equally good customer service policy, supported by an easy payment process. The addition of an intuitive recommendation engine will add to its stickiness. As exemplified by the likes of Amazon, Alibaba and Zalora, an eCommerce venture becomes successful when it is able to attract and sustain an ecosystem of participants – buyers and sellers facilitated by a supporting cast of logistics and financial services.

In Indonesia, one such company is eCommerce firm, Bukalapak. In just 10 years it has grown to become a platform for 13.5 million micro, small and medium enterprises serving 100 million users.

Arguably, it is this ecosystem that has attracted Standard Chartered Bank to form a partnership with Bukalapak. The collaboration will give Bukalapak access to nexus, the banking-as-a-service solution operated by SC Ventures, the Fintech arm of Standard Chartered.

In a press statement, StanChart listed the partnership to mean Bukalapak will be able to offer financial services to its users as well as the sellers/traders on the platform. It cited a Standard Chartered survey which claimed that the pandemic has become a catalyst for the growth of online financial activity, with 56% of Indonesian consumers now preferring to shop and make payments online.

It also noted that 80% of Indonesians also expect the country to go fully cashless by 2025. It is this prophesy that the partnership is keen to tap into.

What’s in it for

For StanChart, the partnership will give it potentially a broader market penetration in the local market.

For Bukalapak, it gains a digital banking platform with products tailored to the local, and a financial trading platform that can potentially ease trading among participating members on its ecosystem. It also avoids the expensive and time-consuming process of getting a banking license

Related:  Why VC is better than ICO
Tags: Bukalapakfinancial inclusionStandard Chartered Bank
FutureCIO Editors

FutureCIO Editors

No Result
View All Result

Recent Posts

  • Agentic AI-powered AppSec platform launched for the AI era
  • IDC forecasts GenAI alone will grow at a 59.2% CAGR
  • Dataiku brings new AI capabilities to create and control AI agents
  • Microsoft reveals the rise of a new kind of organisation in the AI era
  • St Luke’s ElderCare enhances data security and user experience with Juniper

Live Poll

Categories

  • Big Data, Analytics & Intelligence
  • Business Applications & Databases
  • Business-IT Alignment
  • Careers
  • Case Studies
  • CISO
  • CISO strategies
  • Cloud, Virtualization, Operating Environments and Middleware
  • Computer, Storage, Networks, Connectivity
  • Corporate Social Responsibility
  • Customer Experience / Engagement
  • Cyber risk management
  • Cyberattacks and data breaches
  • Cybersecurity careers
  • Cybersecurity operations
  • Education
  • Education
  • Finance
  • Finance & Insurance
  • FutureCISO
  • General
  • Governance, Risk and Compliance
  • Government and Public Services
  • Growth Strategies
  • Hospitality & Tourism
  • HR, education and Training
  • Industry Verticals
  • Infrastructure & Platforms
  • Insider threats
  • Latest Stories
  • Logistics & Transportation
  • Management Leadership
  • Manufacturing
  • Media and Telecommunications
  • News Stories
  • Operations
  • Opinion
  • Opinions
  • People
  • Process
  • Remote work
  • Retail & Wholesale
  • Sales & Marketing
  • Security
  • Tactics and Strategies
  • Technology
  • Utilities
  • Videos
  • Vulnerabilities and threats
  • White Papers

Strategic Insights for Chief Information Officers

FutureCIO is about enabling the CIO, his team, the leadership and the enterprise through shared expertise, know-how and experience - through a community of shared interests and goals. It is also about discovering unknown best practices that will help realize new business models.

Quick Links

  • Videos
  • Resources
  • Subscribe
  • Contact

Cxociety Media Brands

  • FutureIoT
  • FutureCFO
  • FutureCIO

Categories

  • Privacy Policy
  • Terms of Use
  • Cookie Policy

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Login to your account below

or

Not a member yet? Register here

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
Login

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Subscribe