Gojek-Backed Bank Jago Ties up With Mambu and Google Cloudby Fintech News Indonesia June 3, 2021
Bank Jago, a Gojek-backed Indonesian bank, has selected Mambu’s SaaS banking platform as its technology foundation as the bank begins its journey towards operating as a technology based-bank.
Mambu’s innovative, flexible and responsive digital banking platform will underpin Bank Jago’s service offerings, which will initially include everyday transactions and payments, with plans to branch out into SME lending.
Bank Jago said in a statement that it is the first organisation to benefit from the recently announced strategic partnership between Mambu and Google Cloud, which allows banks and financial institutions in countries like Indonesia, where banking data must remain ‘in country’, to operate in the cloud.
By implementing solutions from Mambu and Google Cloud, Bank Jago is able to swiftly introduce life-centric digital financial services to all its customers.
In December 2020, Gojek had invested US$160 million in order to increase its stake holdings from 4% to 22%, while Singaporean sovereign wealth fund GIC bought a 9% stake in the bank several months later.
Recently, Gojek had announced a US$18 billion merger with Tokopedia to form the GoTo Group.
“Mambu’s cloud banking platform and its partnership with Google Cloud offer the core banking solution that we are looking for and will allow us to focus on offering flexible cloud-based banking services to our customers,”
said Bank Jago President Director Kharim Siregar.
Megawaty Khie, Country Director for Google Cloud Indonesia, added
“People expect seamless, tailored experiences from their banking partners today, and we’re proud to partner with Mambu to support Bank Jago as they offer new services to meet the needs and demands of Indonesian customers.”
Featured image: Bank Jago