Jakarta, 30 May 2024 – Bank Saqu, a digital banking service from PT Bank Jasa Jakarta, continues to innovate to provide excellent service to its customers. In collaboration with Big Alpha, a data-based financial information and content provider, Bank Saqu today held an Unfiltered Live discussion #5: From Manual to Automatic, Indonesia Rebuild Saving Habits, which aims to encourage all Indonesians to re-build the habit of saving.
Bank Saqu is aware of the phenomenon of Indonesian people who have difficulty saving, but they still spend money. This is also called the phenomenon of dissaving, which is a condition in which a person spends more money than their income, so they take advantage of other sources, such as savings or debt. This phenomenon is in line with a survey found by Bank Indonesia which recorded a savings to income ratio in November 2023, a significant decrease of 15.4% compared to the pre-pandemic period in November 2019 of 19.8%. The increasing financial needs make people have to erode their savings so that there is a trend of decreasing the number of savings.
Deputy Chief Representative of Bank Indonesia DKI Jakarta, Musni Hardi K.A., appreciated Bank Saqu for educating the public through this discussion and its support for economic growth through the digitalization of the payment system, especially QRIS.
"The performance of QRIS in Jakarta also shows satisfactory results. In 2024, until April, the acceleration of QRIS will continue to be reflected in the accumulated transaction volume of 462.55 million. This achievement was supported by QRIS business actors who reached 5.31 million, up 16% from the previous year (12% national share) and spread throughout the DKI Jakarta area. In addition, as of April 2024, QRIS users increased by 118,328 or grew 34.14% (yoy) with a total of 5.78 million users. The inclusivity of non-cash payment systems, especially QRIS, is spread across several segments of business types. The majority of QRIS merchant distribution is in micro businesses and small businesses," he explained.
Marcella Pravinata, Head of Go To Market of PT Bank Jasa Jakarta said, "The habit of transactions through QRIS is an opportunity for Bank Saqu to innovate and help build people's saving habits. Through the Tabungmatic feature, the first automatic savings feature in Indonesia, customers can manage their finances more easily, fun and beneficially."
In the Tabungmatic feature, change from every transaction using QRIS in the Bank Saqu application will be converted into savings stored in Saku Booster with a saving incentive of 10% per year with applicable terms and conditions.
"Customers have proven the convenience of Tabungmatic, where the adoption of Bank Saqu customers' automatic saving habits has increased almost 3 times. Besides innovative features, Bank Saqu also offers appealing incentives like a draw for Scoopy motorcycles to encourage people to save more. In the future, Bank Saqu will continue to develop products and services to make it easier for people to access safe, fun and beneficial financial services," added Marcella.
Senior Economist & Researcher, Poltak Hotradero, said, "Savings are crucial on both ends, for the government and individuals alike. The amount of savings drives the country's economy, where the circulation of money in Indonesia determines GDP. For individuals, savings provide flexibility capital, allowing those who have savings to have more flexibility than those who do not. For instance, someone facing life choices like quitting or changing jobs can step forward more prepared."
The same thing was also expressed by Ferry Irwandi, Co-Founder of Malaka Project & Content Creator, "Like lifestyle, saving has a strong psychological foundation. The hardest thing about saving is to start it and have the discipline that will make it a habit. Therefore, assistance is needed in the form of incentives or financial services that can help someone build a saving habit," he explained.
To take advantage of the Tabungmatic feature, customers only need to activate the feature in the Bank Saqu application. Then, determine the desired rounding value starting from IDR 5,000, IDR 10,000 and IDR 50,000. With this feature, the more transactions using Bank Saqu's QRIS, indirectly customers will also save more often.