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Bank Saqu Helps Solopreneurs in Indonesia as It Aims to Be the ‘Nation’s Go-to Financial Platform’

Bank Saqu, a digital banking service, has been launched by PT Bank Jasa Jakarta (BJJ), the Indonesian-based bank to service individuals and SMEs: focusing on money management and long-term savings.

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 solopreneurs by 2030. One out of three Indonesians will engage in solopreneurship, contributing 36 per cent to future GDP. However, they often face challenges like inconsistent income and complicated financial management. In light of this, BJJ, owned by Astra Financial and WeLab since 2022, has released Bank Saqu.

Bank Saqu targets the younger generation, especially solopreneurs in Indonesia. This encompasses small business owners, freelancers, and even full-time employees juggling side hustles. The segment is proactively seeking ways to grow, save more, invest more, or even borrow for productive efforts, to achieve more in the future. As a result, Bank Saqu offers more than just customised products, it focuses on financial education and empowers solopreneur-spirited individuals on their financial journey.

Phonetically sounding like ‘Bangsa-ku’, meaning ‘my nation’ in Indonesian, Bank Saqu’s launch is in line with BJJ’s target of becoming the nation’s go-to financial service platform. There is a further play on words too, as ‘saku’ means ‘pockets’ reflecting one of the flagship features the platform offers.

Leo Koesmanto, president director of Bank Jasa Jakarta
Leo Koesmanto, president director of Bank Jasa Jakarta

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. Furthermore, with multiple distinct pockets (Saku) within a single banking app, solopreneurs can strategically manage their finances, allocate resources, and witness their businesses flourish.”

Bank Saqu will have various unique advantages in the digital financial services landscape in Indonesia added Koesmanto. Especially with local market insights and the extensive ecosystem coverage of Astra, both offline and online. Not to mention the technological expertise brought by WeLab.

Bank Saqu main features

The product has launched with five main features:

  1. Saku (pocket): An intuitive and versatile tool to help manage your money at ease. Create up to 20 customised pockets for your side-hustles income and expenses, day-to-day spending, savings, and financial goals.
  2. 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 seven per cent p.a.
  3. Tabungmatic (round-up saver): 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 per cent p.a. to beat your savings goals (terms and conditions apply).
  4. 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 day (terms and conditions apply).
  5. Saku Booster (rewards pocket): A designated pocket to store all the cash back you earned from Bank Saqu and round-up savings, the cashback at Saku Booster can earn a higher interest rate of up to 10 per cent p.a. (terms and conditions apply).
Bank Saqu launch ceremony

The launch ceremony of Bank Saqu 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 and group CEO of WeLab
  • Ernest Leung, group COO of WeLab
  • Leo Koesmanto, president director of Bank Jasa Jakarta

Directors and executives of Bank Jasa Jakarta, Astra and WeLab were also in attendance.

Successful partners in the launch

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 is 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.

Simon Loong, founder and group CEO of WeLab
Simon Loong, founder and group CEO of WeLab

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. It aligns with the strategic focus on expanding our presence and delivering tech-driven financial services. Especially 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 six months riding on our proven digital banking technology and know-how 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. Furthermore, we want to contribute to the Indonesian banking industry’s digitalisation,” Loong added.


  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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