Press Release: OJK Promotes Branchless Banking Program to Boost Financial Inclusion in West Sumatra

Dec 3 2016
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Financial Services Authority, Padang, December 3, 2016: The Financial Services Authority (OJK) has been carrying out various activities to push for Financial Inclusion program expansion, as part of the efforts to achieve the National Strategy for Financial Inclusion (SNKI) target—financial literacy rate of 75 percent by end of 2019.

At the Hajj Agus Salim Stadium, Padang, West Sumatra, on Saturday (Dec. 3, 2016), the OJK in collaboration with Bank Tabungan Pensiunan Nasional (BTPN) staged an event titled Elok Laku Pandai Manabuang to urge and encourage Padang and West Sumatra communities to save more money towards better future for their families.

"West Sumatrans are known as avid savers and they are potential customers for savings accounts, from which public funds can be channeled to local development projects," Chairman of OJK's Board of Commissioners, Muliaman D Hadad, said in his opening remarks for the event.

Now, it has been easier for the public to start saving money and grow their savings accounts because today there are many Laku Pandai (Branchless Banking in the Framework of Financial Inclusion) agents in many villages in far-flung corners of Indonesia, which so far have been beyond the reach of banking offices.

The OJK always encourages for more openings of Laku Pandai basic savings accounts (BSA) and more Laku Pandai agents, in line with the National Strategy of Financial Inclusion (SNKI) launched by the government in last November.

As of end of September 2016, total funds put into Laku Pandai BSA have amounted to IDR 93.79 billion, a fairly considerable figure given that the program has only run for about a year (since May 2015) and mostly captured low-income communities. 

The number of Laku Pandai agents as of September 2016 has reached 159,521 individuals and 968 entities, from 15 banks that participate in the Laku Pandai program. To increase the number of agents, the OJK will encourage the banks to offer incentives for existing as well as potential agents.

Bank Tabungan Pensiunan Nasional (BTPN), which has launched the Laku Pandai program under the name of BTPN WOW!, will also expand the program to other areas in order to increase the number of BSA, of BSA customers (to achieve the two-million-customer target) and of BSA agents (to reach the 100,000-agent target by the end of 2016), and to offer other banking services.

Banks that run the Laku Pandai program include BTPN, Mandiri Bank, BRI, BNI, BTN, BCA, Sinarmas Bank, the East Kalimantan Regional Development Bank, BRI Sharia, Sahabat Sampoerna Bank, the Regional Development Bank of West Java and Banten, the Central Java Bank, BTPN Sharia, Bukopin Bank and Danamon Bank.

The Elok Laku Pandai Manabuang event was attended by 2,000 participants, who mostly came from Padang City. Administrative and Bureaucratic Reform Minister Asman Abnur, West Sumatra Governor Irwan Prayitno, Andalas University Alumni Leaders and the university's rectorate officials were also present at the event.  

"We appreciate the Laku Pandai Program initiated by the OJK. The program is a breakthrough that has made it possible for banks to reach communities in remote areas, which have never enjoyed banking services. We expect the event will raise public awareness about the Branchless Banking Program, the Let's Save Money Movement, and BTPN Wow!, especially for those living in the West Sumatra province," BTPN Deputy President Director Ongki W. Dana said.

In West Sumatra, BTPN Wow! now has 2,681 agents and 42,193 customers. They are scattered across 13 areas, including Agam, Lima Puluh Koto, Padang Pariaman, Pesisir Selatan, Sijunjung, Solok, Tanah Datar, Bukittinggi, Padang, Padang Panjang, Pariaman, Payakumbuh and Solok. Moreover, nationwide, as of November 2016, BTPN Wow! has had a total of 2.5 million customers and 147,000 agents.



For more information:

Irwan Lubis, Deputy Commissioner for Banking Supervision III

Tel +62 21 2960 0000

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