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Indonesia's Bank Raya aims to offer accounts to 10% of gig workers

CEO eyes Southeast Asian country's millions seeking to save and obtain loans

Bank Raya CEO Kaspar Situmorang sees opportunity in providing accounts and loans to Indonesia's growing army of gig workers. (Photo courtesy of Bank Raya)

JAKARTA -- Bank Raya, a subsidiary of state-owned Bank Rakyat Indonesia (BRI) is aiming to offer bank accounts to 10% of the country's growing coterie of gig, or informal, workers by 2024, its CEO told Nikkei Asia.

Southeast Asia's economy has been transformed in recent years by the rise of digital-focused startup companies including e-commerce giant Bukalapak and GoTo, which offers a super app that has generated millions of such workers. Many, however, are "underbanked," meaning they have trouble accessing financial services. And some fall into the "unbanked" population, those without any bank account.

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