GoTo can propel Bank Jago’s growth, but it has the incumbents to contend with

As ride-hailing firm Gojek and online marketplace Tokopedia join forces to create Indonesia’s largest tech ecosystem under the freshly-minted GoTo Group, Bank Jago is poised to emerge as one of the biggest benefactors of the merger.

Prior to the merger announcement earlier this week, the bank — 21.4% owned by GoTo via its fintech subsidiary GoTo Financial (PT Dompet Karya Anak Bangsa) — already announced a plan to integrate its digital banking services into the Gojek app.

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