FinTech: Indonesian Bank Jago To Implement Mambu’s SaaS Banking In The Google Cloud

June 4, 2021 | FinTech, News
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Bank Jago is the first organization to implement Mambu banking after the latter’s partnership with Google Cloud.

SaaS cloud banking platform Mambu announced Wednesday that PT Bank Jago Tbk (Bank Jago) (IDX: ARTO) an Indonesia-listed bank, has become its first customer in that country. Bank Jago, which is embarking on a path to become a technology-based bank, will implement its SaaS banking platform on the Google Cloud. (Mambu)

Mambu banking platform, the cloud and financial inclusion

Bank Jago will use the SaaS banking platform for all its services including daily transactions and later, SME lending.

Recently, Mambu and Google Cloud entered a strategic partnership to offer cloud-based banking.

“Now that our strategic partner Google Cloud has made cloud banking a reality in Indonesia, we expect to see great progress made in the region in a very short space of time,” said Myles Bertrand, Managing Director, APAC, Mambu. “According to the World Bank, less than half of all Indonesian adults currently have a bank account, so we expect that Bank Jago’s digital offerings will help to enhance financial inclusion within the region.”

“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.

Gojek stake

In December, Indonesian ride-hailing giant Gojek bought an 18.02% stake in Bank Jago for $160 million, increasing its stake to 22.16%.

“A technology-based bank like Bank Jago will strengthen Gojek’s ecosystem and also open wider access to digital banking services for Indonesians,” Gojek Co-CEO Andre Soelistyo said at the time.

Related Story:  SaaS Banking Platform Mambu Is First Off The Block With A Shariah Version

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