Jago

What Jago does

Jago (PT Bank Jago Tbk, IDX:ARTO) is an Indonesia-licensed, OJK- and BI-supervised digital bank headquartered in Jakarta. Originally incorporated in 1992 as PT Bank Artos Indonesia Tbk in Bandung, the bank was acquired by MEI and WTT in 2019, listed on the Indonesia Stock Exchange, and rebranded as Bank Jago in 2020 following a 22.16% strategic investment by Gojek/GoPay. It operates three product brands: Aplikasi Jago for conventional retail banking, Aplikasi Jago Syariah for sharia-compliant banking (under a separate Sharia Business Unit with DSN MUI-compliant contracts), and Jago Bisnis, a web-based platform serving SMEs with multi-account controls, bulk transfers, and payroll.

The bank's technology is built on a mobile-first architecture (iOS/Android apps, plus a web business platform) with biometric authentication (fingerprint, Face ID, liveness check), video-call and KTP KYC for remote account opening, and partner-facing APIs that embed Jago accounts natively into Gojek/GoPay, Tokopedia, Bibit, Stockbit, and BFI Finance. The signature product is the "Kantong" (Pocket) system, allowing up to 60 sub-accounts per user for savings, spending, locked deposits, foreign currency (USD/SGD/EUR/JPY/AUD), joint/sharing pockets, RDN investor accounts, and gifting. Lending products include Jago Dana Cepat (unsecured installment loans) and Dana Siaga (revolving credit); payments span QRIS, international Visa debit, GPN, and BI-FAST/RTOL/SKN/RTGS transfers.

Jago generates revenue primarily through net interest income (FY2025: Rp2.1 trillion, +59% YoY) on its Rp24.3 trillion loan book, plus fee-based income (+57% YoY) from transfers, QRIS, cards, and partner cross-sell. Deposits stood at Rp25.9 trillion (+38% YoY), customer deposits fund most of the balance sheet, with a $100 million UOB-arranged syndicated term loan added in December 2025 to diversify funding. The bank reported Rp2.9 trillion in total operating income and Rp276 billion in net profit (more than double Rp129 billion in 2024) on 18.2 million KYC-verified customers, supported by six branches and embedded distribution across Indonesia's leading super-apps.

Name

Jago

Legal name

PT Bank Jago Tbk

Website

https://jago.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

251–500 employees

Short description

Jago (PT Bank Jago Tbk, IDX:ARTO) is an Indonesia-licensed digital bank offering up to 60-account Pocket-based retail, sharia, and SME banking embedded across Gojek, Tokopedia, Bibit, and Stockbit to 18.2 million customers.

Ownership category

akta.pro rank

Product category

Digital Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Account & Balance Services (Operating accounts, statements, eBAM) (FSABAIAD)

akta.pro secondary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Digital banking services
• Mobile banking app
• Sharia banking
• Consumer lending products
• SME digital banking

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Net Interest Income (NII): Interest income from lending activities (Jago Dana Cepat, Dana Siaga, and other credit products) minus interest paid on deposits. 2025 NII grew 59% year-on-year, driven by expansion of loan balances. This is the primary revenue driver.
2. Fee-based Income: Transaction fees from interbank transfers (BI-FAST, RTOL, SKN, RTGS), QRIS payments, card transactions, account management, and cross-sell revenue from partner integrations (e.g., Bibit RDN fees, GoPay top-up fees). 2025 fee income grew 57% year-on-year. Additional fees include foreign currency transaction fees, bulk transfer fees for business customers, and card replacement/administration fees.
3. Sharia Banking Revenue (Jago Syariah): Revenue from sharia-compliant products including mudharabah profit-sharing on deposits and financing activities using musyarakah/mudharabah contracts. Profit-sharing competitive rate of 16.21% nisbah equivalent to ~5% per annum on sharia deposits.

Pricing tiers

Go-to-market motion2 records

Distribution channels10 records

Marketing channels15 records

Core offering

Jago operates a fully digital bank providing consumer and SME banking through the Jago and Jago Syariah mobile applications and the Jago Bisnis web platform. Customers open accounts remotely via video call or biometric KYC and access up to 60 sub-account 'Kantong' (Pockets) for savings, spending, locked savings, deposits, foreign currency, investments, charity, and shared group finances, plus unsecured installment lending (Jago Dana Cepat), revolving credit (Dana Siaga), QRIS payments, and interbank transfers.

Product overview

Jago (PT Bank Jago Tbk) is an Indonesia-based digital bank offering a multi-product digital banking platform organized into three main brands: Aplikasi Jago (conventional retail banking), Aplikasi Jago Syariah (Sharia-compliant banking), and Jago Bisnis (business banking web platform). The core Aplikasi Jago and Jago Syariah products center around the 'Pocket' (Kantong) system, allowing users to create up to 60 sub-accounts per app for savings, spending, deposits, investments, and specialized purposes. Lending products include Jago Dana Cepat (unsecured installment loans) and Dana Siaga (flexible credit line via current account). Payment capabilities include QRIS, international Visa debit cards, GPN domestic cards, and bank transfers via BI-FAST/RTOL/SKN/RTGS. The ecosystem extends via API integrations with GoPay, Bibit, Stockbit, and BFI Finance. A tiered account level program (Jagoan levels) unlocks benefits such as free transfer quotas and e-wallet top-ups. The company also operates Jago Bisnis, a web-based platform for business customers providing multi-account management, bulk transfers, and consolidated financial views.

Differentiator

Problem solved

Functional benefit

Brands

• Jago Syariah: Islamic banking product line operating under Sharia principles, offering savings, transactions, and investments compliant with Sharia law.
• Jago Bisnis

Products and services

• Aplikasi Jago Primary mobile banking application for Jago's conventional retail banking services. Enables remote account opening via video call and KTP, up to 60 Pocket (Kantong) sub-accounts, BI-FAST/RTOL/SKN/RTGS transfers, QRIS payments, international Visa debit card issuance, time deposits, RDN investment account opening, spending analysis, automated planning, and JagoID for peer-to-peer transfers. Targeted at Indonesian retail and mass-market consumers.
• Aplikasi Jago Syariah Sharia-compliant mobile banking variant using Wadiah Yad Dhamanah contracts for Pockets (savings and spending) and Mudharabah Muthlaqah for Deposito Syariah. Provides up to 60 Sharia Pockets, QRIS, international Visa debit, GoPay integration, and RDN investment access aligned with Islamic banking principles and DSN MUI fatwas. Targeted at Muslim Indonesian consumers seeking interest-free, profit-sharing banking.
• Jago Bisnis Web-based digital banking platform for business customers (UMKM and SMEs). Provides multi-account management, tiered authorization controls, bulk transfers including payroll, user management, and consolidated real-time cash flow monitoring across all business accounts. Sold directly via jagobisnis.com with self-registration and supported by dedicated hotline, WhatsApp, and email channels.
• Jago Dana Cepat Collateral-free unsecured installment loan product offered directly through the Jago app to selected customers for consumptive financing needs. Loan limits are determined by the bank and repayment is in installments. Loan disbursements increased significantly following the April 2021 digital platform launch.
• Dana Siaga (Riplay) Current account (Giro) pocket with a flexible revolving credit limit using bank whitelisting. Customers can repay in full at the end of the period or through scheduled installments. Available to selected customers only and cannot be used as a shared or locked Pocket.
• Deposito (Time Deposit Pocket) Time deposit pocket offering competitive interest rates up to 6% per annum with no penalty for early withdrawal and prorated interest upon redemption. Users can set their own tenure and open or cash out the deposit entirely from the app. Also offered as Deposito Syariah using Mudharabah Muthlaqah contract.
• Kartu Debit Visa Internasional International Visa debit card accepted worldwide for online and offline transactions and ATM cash withdrawals. Standard card limit is Rp50,000,000 per transaction and per day; the Digital Pro Card variant raises this to Rp200,000,000 per transaction. Contactless-enabled with limits raised to Rp3,000,000 per transaction and Rp5,000,000 per day (default, up to Rp10,000,000 maximum) effective 28 July 2026.
• Kartu Debit Jago GPN Domestic debit card operating on the GPN (Gerbang Nasional Pembayaran) national payment network, enabling ATM withdrawals and transactions within Indonesia.
• GoPay Tabungan by Jago Joint product with GoTo Financial combining GoPay e-money functionality with Jago banking. Displays GoPay balance within the Jago app, enables GoPay top-up from any Jago Pocket, earns 1.5% per annum interest with no balance minimum or maximum. Also available as GoPay Tabungan Syariah. Targeted at users of the Gojek ecosystem.

Quantifiable outcome

• Net profit more than doubled in 2025 to 276 billion rupiah ($16.3 million), a 115% increase from 129 billion rupiah in 2024.
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability2 records

Feature10 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• PT KSEI (Indonesia Central Securities Depository)minorStrategic or Co-development Partner · 1 January 2024Bank Jago was appointed as RDN Administrator and Payment Bank by PT KSEI for the period 2024–2029, enabling the bank to serve as custodian and settlement agent for securities transactions.
• UNEP FI (United Nations Environment Programme Finance Initiative)minorStrategic or Co-development Partner · 1 August 2023Bank Jago partnered with UNEP FI to develop a sustainable finance framework and formally committed to the Principles for Responsible Banking. Collaboration aims to advance ESG standards and sustainable finance practices within the bank's operations.
• TokopediacoreChannel Partner/ Reseller/ Distributor · 1 January 2023Jago, Jago Syariah, and GoPay Tabungan by Jago can be used to pay for shopping on Tokopedia. Transactions via Jago pockets capped at Rp7,000,000 per transaction and Rp12,000,000 daily. Visa debit card payments on Tokopedia use Jago-set limits up to Rp50,000,000.
• Rumah ZakatminorStrategic or Co-development Partner · 1 January 2023Bank Jago collaborated with Rumah Zakat in March 2026 to support post-disaster reading interest recovery for children in Aceh, demonstrating commitment to social impact through the Jagoan Baca literacy program.
• BibitcoreTechnology or Integration · 1 January 2020Jago and Bibit collaborate to enable mutual fund investments directly through the Jago app. Users can open RDN accounts and invest in mutual funds with free top-up. Over 1 million Jago customers connected to Bibit were reported in 2023. Bibit partnership provides investment product cross-sell without additional account switching.
• StockbitcoreTechnology or Integration · 1 January 2020Jago and Stockbit partnership enables stock investing through the Jago app. RDN (Customer Fund Account) can be opened within hours via Stockbit integration. Jago x Stockbit promo offers bonus rewards for first-time stock investors. Partnership includes joint marketing campaigns and fee-free RDN account opening.
• Gojek / GoPay / GoTo FinancialcoreStrategic or Co-development Partner · 1 January 2019Gojek (through GoPay) entered as a non-controlling strategic investor with 22.16% ownership. GoTo Financial partnership enables GoPay Tabungan by Jago and GoPay Tabungan Syariah by Jago — combining e-money and banking. Integration with GoBiz app allows Jago services within the GoTo merchant ecosystem. Gojek is also the anchor ecosystem partner for Jago's digital banking services, with GoPay Tabungan offering 1.5% p.a. interest with no balance limit.

Scale indicators9 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Bank Neo Commerce (BNC): Indonesian digital bank listed on IDX (BBYB) targeting retail and SME customers via a mobile-first app. Directly comparable to Jago as a publicly listed, ecosystem-driven Indonesian digital bank competing for the same mass-market and SME deposits and lending.
• Jenius (Bank BTPN): Digital banking service from Bank BTPN (part of SMBC Group) offering pocket-based savings, payments, and lending to Indonesian consumers. Closely comparable to Jago in mobile-first UX, life-centric savings features, and Indonesian mass-market targeting.
• SeaBank Indonesia: Indonesian digital bank backed by Sea Group, distributed via Shopee and other Sea ecosystem apps. Highly comparable to Jago in its embedded-distribution model (Shopee parallels Gojek) and rapid-deposit-growth playbook, but operates at larger scale.
• Blu by BCA Digital: Digital bank from Indonesia's largest private bank (BCA) targeting young, digital-savvy consumers with mobile-first accounts and lifestyle integrations. Comparable as a domestic digital bank competitor, though backed by BCA's deposit franchise and brand rather than a super-app ecosystem.

Emerging players

• Bank Aladin Syariah: Indonesian digital sharia bank focused on retail and SME sharia products. Comparable to Jago's Jago Syariah variant as a competitor in the underpenetrated Indonesian digital sharia banking segment.
• Krom Bank Indonesia (formerly Bank KEB Hana): Indonesian digital bank focused on SME lending and integrated finance. Comparable to Jago as an Indonesian digital bank pursuing SME/UMKM credit, though with a more credit-led rather than deposit-led strategy.

Regional players

• TMRW by UOB: UOB's regional digital banking proposition active across ASEAN including Indonesia. Comparable as a mobile-first digital bank competing for the same Indonesian retail and SME segments, with the added backing of a regional banking group and UOB's recent $100M syndicated term loan to Jago.

Broad incumbents

• KakaoBank: South Korea's leading mobile-first digital bank, distributed via the KakaoTalk super-app with strong consumer lending and deposit franchises. Comparable to Jago as a reference benchmark for embedded-distribution digital banking economics, though at much greater scale and in a different regulatory environment.
• WeBank: China's largest digital bank, backed by Tencent and embedded inside WeChat. Comparable to Jago as a global benchmark for super-app-distributed digital banking, particularly for the consumer lending, deposit, and SME monetization playbooks Jago is pursuing.
• Digibank by DBS: Regional digital banking proposition from DBS operating across Southeast Asia including Indonesia. Comparable as a broader incumbent digital bank competing for the same Indonesian retail/SME segments, with deeper capital and a regional product roadmap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/jadijago
• YouTubeyoutube.com/channel/UCCERkTTAEhe9xNGG05RC7_A
• Facebookfacebook.com/JadiJagoOfficial
• LinkedInlinkedin.com/company/pt-bank-jago-tbk
• Instagraminstagram.com/jadijago
• TikToktiktok.com/@jadijago

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jago