Hosted on the nexus platform – a BaaS solution by the bank’s innovation and venture arm SC Ventures, the partnership will see Standard Chartered provide digital financial services to Bukalapak’s customer base of more than 100 million users and 13.5 million sellers. Standard Chartered Bank Indonesia, the nexus platform offers banking-as-a-service features similar to a white label banking service which partners can offer under their own brand.
The collaboration aims to boost financial inclusion in Indonesia and further support the country’s digital economic growth. A recent survey by Standard Chartered revealed the pandemic has acted as a catalyst for the growth of online financial activity, with over half of global respondents using more online services in a post-pandemic world. Additionally, 80% of Indonesians also expect the country to go fully cashless by 2025.
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