Stanchart, Indosat target unbanked Indonesians with launch of Straight2Bank Wallet

Visual of the launch

Standard Chartered Bank Indonesia (Stanchart) of UK is partnering with a local cellular operator PT Indosat Tbk (ISAT), unit of Qatar firm Ooredoo Group, to launch Straight2Bank Wallet for corporate clients in the country, taking advantage of the growing popularity of cashless payment mechanism in the country.

Straight2Bank Wallet will facilitate the distribution of money transactions for those employees of a company who have no certain bank account. The Straight2Bnk Wallet holders will receive the funds electronically through their Indosat ‘Dompetku’ mobile wallets.

“The bank’s corporate clients can now make cashless payments to both banked and unbanked individuals via the Straight2Bank digital banking platform,” Alexander Rusli, president director & CEO of Indosat said in a press conference.

He added the new payment system is aimed at corporate clients of Stanchart such as the organisation, multinational corporations, financial institutions and companies’ fast moving consumer good.

Michael Sugirin, head of transaction banking of Stanchart commented, that the collaboration will help improve access to financial services in the country where more than 60 per cent of Indonesian people do not have a bank account.

Gautam Jain, global head of client access and product development at Standard Chartered added the partnership will enable corporate clients in Indonesia to connect more efficiently with their customers and beneficiaries, and in the process, find further financial inclusion in the country. 

The Straight2Bank Wallet is also available in Kenya, Nigeria, Tanzania, Zambia, Pakistan, Bangladesh, the Philippines and Thailand, with further roll-outs in the pipeline for other countries in Asia, Africa and the Middle East. 

Dompetku has partnerships with Alfamart, Alfamidi, Dan+Dan, Lawson, Indomaret, 7Eleven, Kereta Api Commuter Jakarta, PadiTrain, PadiAir, CityPass, Genflix, keretaapiku.com, FoodPanda, Dinomarket, Elevenia,  Dreamers Radio and Alfaonline for online services.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.