JAKARTA, Indonesia—March 1, 2023—Amazon Web Services (AWS), an Amazon.com, Inc. company, today announced that Indonesia's first publicly-listed all-commerce company Bukalapak built the BukaTabungan digital banking service with international banking group Standard Chartered on AWS. To bring financial services to unbanked Indonesians and businesses, Standard Chartered’s banking-as-a-service (BaaS) solution nexus enables digital platforms like ecommerce, social media, or ride-hailing companies, to offer customers financial products such as debit cards and savings accounts under their brand name. Using the breadth and depth of AWS, including storage, containers, and databases, BukaTabungan provides convenient digital banking access to Bukalapak's more than 110 million users. With AWS, BukaTabungan connects to Indonesia’s national Kartu Tanda Penduduk Elektronik (E-KTP) biometrics-enabled identification program, allowing customers to open a bank account online in as quickly as five minutes with no paperwork required.
Indonesia’s ecommerce industry is growing 22% annually, but only 23% of Indonesians have access to banking or financial services. To help deliver financial services that seamlessly connect with its online and offline platforms, Bukalapak needed to build BukaTabungan on agile, secure, and scalable cloud infrastructure. Standard Chartered nexus built a data repository using Amazon Simple Storage Service (Amazon S3), an object storage service, to centrally store terabytes of structured and unstructured data, including customer transaction and account information. With Amazon Relational Database Service (Amazon RDS), which makes it easy to set up, operate, and scale a relational database in the cloud, Standard Chartered nexus uses data from the repository, including customers' financial history and eligibility, to provide quick and easy access to financial services through BukaTabungan with Bukalapak. For example, BukaTabungan users can easily apply for various financial services and use them to purchase from Bukalapak's platform. By leveraging the AWS Asia Pacific (Jakarta) Region, Standard Chartered nexus makes it easy for Bukalapak to meet data residency requirements, with high resiliency, low latency and even greater fault tolerance.
“With AWS, Standard Chartered nexus is delivering innovative and accessible solutions to companies like Bukalapak, introducing critical financial services to Indonesia's unbanked people,” said Mathias Faure, chief technology officer at Standard Chartered nexus. “Launching BukaTabungan on AWS gives customers easy access to digital banking services to help more Indonesians prosper, and helps Bukalapak create a more seamless e-commerce experience.”
“The financial services sector in Southeast Asia is rapidly growing, with more companies like Bukalapak offering digital banking services to help Indonesians access financial services,” said Gunawan Susanto, country manager at AWS Indonesia. “As Indonesia's e-commerce industry grows, easy-to-implement solutions like the BukaTabungan digital banking service are crucial to the success of financial inclusion across the country. With the AWS Region in Jakarta, Standard Chartered can store data here in Indonesia while benefitting from world-class infrastructure with the highest security standards.”
About Amazon Web Services
Since 2006, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 99 Availability Zones within 31 geographic regions, with announced plans for 12 more Availability Zones and four more AWS Regions in Canada, Israel, New Zealand, and Thailand. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com
About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.
About BUKA (Bukalapak.com)
BUKA is a group of technology-based companies and a technology super-enabler for Indonesia's Micro, Small and Medium Enterprise (MSME) transformation and various business verticals. Serving more than 110 million users and over 22 million Indonesian MSMEs through various solutions, and as the first publicly-listed Indonesian technology company, BUKA focuses on using technology to enable digital lifestyles for both Indonesian MSMEs as well as Indonesians in general, across numerous verticals from marketplace, finance, fintech, offline to online, merchant solutions and procurement. Utilizing technology innovation for Indonesian consumers and businesses, BUKA is a tech enabler and fuel of Indonesia's digital transformation engine.
About Standard Chartered nexus
Standard Chartered nexus is a white-label plug and play Banking-as-a-Service (BaaS) solution powered by Standard Chartered. Our vision is to redefine the banking experience for customers globally by digitally marrying ecosystems to banks. By creating a BaaS business model embedding financial products directly on mass digital ecosystems such as e-commerce platforms, telcos and ride-hailing apps, customers can enjoy easy access to financial services such as digital savings accounts, personal loans, and other targeted financial solutions that were previously not available to them.
Standard Chartered nexus has enabled new business models and new revenue streams for Standard Chartered, becoming the first international bank in Singapore to provide BaaS. Staying ahead of the curve and embracing new business models in line with the Bank’s innovation and digitisation strategy helps us anticipate and embrace the fast-evolving nature of financial services. Standard Chartered nexus clinched 3 awards within 5 months of going live in 2022, including 2nd place in the Singapore Fintech Awards 2022.