Bank Raya

What Bank Raya does

Bank Raya (legal name: PT Bank Raya Indonesia Tbk; IDX ticker AGRO) is the digital banking subsidiary of BRI Group, one of Indonesia's largest state-owned banks. Founded in 1989 and headquartered in Jakarta, the company operates a digital-first banking platform through its flagship Raya App (available on Google Play and Apple App Store), complemented by a network of 25+ Community Branches and BRI Group's wider distribution including 250,000+ BRILink agents. As of June 2025, Bank Raya served over 1.05 million app users with total credit of Rp7.3 trillion and digital loans outstanding of Rp2.6 trillion.

The product portfolio is anchored on the multi-wallet 'Saku' system—Saku Bujet (budgeting), Saku Pintar (automated savings), Saku Jaga (emergency fund), Saku Bareng (group savings up to 300 members), and Saku Bisnis (business finance)—alongside a lending suite (Pinang Flexi up to Rp25M, Pinang Flexi Extra, Pinang Maksima, Pinang Performa, Pinang Dana Talangan up to Rp200M), Raya Paylater (BNPL up to Rp5M), QRIS Bisnis (merchant acceptance), the Virtual Debit Visa card, and Uang Saku for children aged 10-16. Core technology includes e-KYC with face recognition, digital signatures with QR-code verification, an Open API (Raya Open API) for embedded finance integrations, AI-driven fraud and credit-risk scoring, and a personalized recommendation engine powering the Raya Poin loyalty program.

Bank Raya's revenue model centers on net interest income from its loan portfolio (personal, business, and digital lending) plus fee-based banking services from transfers, payments, and transaction-based charges across the Raya App ecosystem. Customer segments span individual consumers, UMKM (250,000+ SRC merchants and broader small-business owners), corporate clients (via embedded-finance platforms like Gaji.id with 600+ companies and 95,000 employees), children and families, and the BRI agent ecosystem. Distribution combines self-serve mobile onboarding (4-minute account opening), Community Branches, and BRI's BRILink agent network, making Bank Raya effectively a digital bank overlay on Indonesia's largest banking distribution footprint.

Name

Bank Raya

Legal name

PT Bank Raya Indonesia Tbk

Website

https://bankraya.co.id

Company type

Public

Founded year

1989

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Bank Raya (IDX: AGRO) is the digital banking subsidiary of BRI Group, operating the Raya App and 25+ Community Branches in Indonesia to serve over 1.05 million individual consumers, UMKM merchants, and corporate clients with multi-wallet Saku accounts, digital loans, QRIS payments, and embedded finance products.

Ownership category

akta.pro rank

Product category

Digital Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211), Credit Card Issuing (52221), Credit Card Issuing (522210), Sales Financing (52222)

SIC

National Commercial Banks (6021), Finance Services (6199)

akta.pro primary industry

Credit Cards & Revolving Credit (FSABAAAC)

akta.pro secondary industries

A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF), QR Code Payments Wallets (FSAMAEAC), BNPL Card / Virtual Card Programs (FSAKACAC), BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG)

Keywords

• Digital banking services
• Consumer lending
• Small business financing
• Mobile payments
• Savings accounts

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Interest Income from Loans: Bank Raya generates revenue primarily through interest income on its loan portfolio, including personal loans (Pinang Flexi), business loans (Pinang Maksima, Pinang Performa), and digital lending products. As of June 2025, total credit stood at Rp7.3 trillion with digital loans outstanding of Rp2.6 trillion.
2. Fee-based Banking Services: Transaction fees, service charges, and other banking service fees from the Raya App ecosystem including transfers, payments, and other financial transactions.
3. Digital Banking Services: Revenue from various digital banking products and services offered through the mobile platform including savings accounts, current accounts, and deposit products.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Bank Raya is a digital bank under BRI Group that delivers personal and small-business financial services through the Raya mobile app, including multi-pocket savings accounts (Saku products), unsecured personal and business loans (Pinang series), QRIS merchant payments, buy-now-pay-later, a children's wallet (Uang Saku), a virtual Visa debit card, and embedded finance APIs. It serves over 1.05 million app users and Rp7.3 trillion in total credit as of June 2025, distributed digitally and through 25+ Community Branches plus BRI's BRILink agent network.

Product overview

Bank Raya is a digital bank within the BRI Group offering a comprehensive digital banking ecosystem through its unified Raya App platform. The product portfolio centers on 'Saku' (pocket) accounts for flexible financial management: Saku Raya (core management), Saku Bujet (budgeting), Saku Pintar (automated savings), Saku Jaga (emergency funds), Saku Bareng (group savings up to 300 members), and Saku Bisnis (business finances). Lending products include Pinang Flexi, Pinang Flexi Extra, Pinang Maksima, Pinang Performa, and Pinang Dana Talangan for various customer segments. Payment solutions include QRIS Bisnis, Raya Paylater, and Kartu Virtual Debit Visa. Additional offerings include Uang Saku (children's digital wallet), Raya Poin loyalty program, and API integration capabilities for embedded finance partnerships. The bank operates 25 Community Branches across Indonesia alongside its digital-first approach.

Differentiator

Problem solved

Functional benefit

Brands

• Saku Raya: Digital savings account with multiple sub-products (Saku Bujet, Saku Pintar, Saku Jaga, Saku Bareng, Saku Bisnis) for various financial management needs
• Pinang Flexi
• Raya Paylater
• Uang Saku
• QRIS Bisnis

Products and services

• Saku Raya (Digital Savings Suite)

Quantifiable outcome

• Digital loans grew 79.2% yoy to Rp2.6 trillion as of June 2025
• +3 more outcomes

Named customers4 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

Integration3 records

AI capability5 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Gaji.idcoreStrategic or Co-development Partner · 30 January 2026Bank Raya partnered with Gaji.id (an HR solution platform under Konimex Group) to provide embedded finance services including Digital Saving and Pinang Flexi. Gaji.id serves 600+ companies with approximately 95,000 employees. The integration allows Gaji.id users to open Bank Raya accounts and access financing directly within the Gaji.id app without switching applications. Bank Raya also offers promotions including Rp15,000 cashback for customers topping up Digital Saving with minimum Rp200,000.
• VisacoreTechnology or Integration · 26 October 2025Bank Raya and Visa launched a virtual debit card within the Raya App. The virtual Visa debit card enables online transactions domestically and internationally on e-commerce, online transportation platforms, and various online platforms. Features include online limit management, quick card blocking, 3D Secure In-App authentication, and extra PIN verification through the Raya App.
• PT SRC Indonesia Sembilan (SRC)coreStrategic or Co-development Partner · 28 August 2025Bank Raya partnered with PT SRC Indonesia Sembilan (part of PT HM Sampoerna Tbk) to provide productive loans for SRC merchants. SRC has 250,000+ merchants across Indonesia. Bank Raya offers digital productive loans with maximum plafond of Rp100 million, adjustable based on merchant business turnover. The partnership supports Bank Raya's strategy to reach broader markets through digital product advantages.
• DinomarketminorChannel Partner/ Reseller/ DistributorDinomarket serves as the redemption partner for Bank Raya's loyalty program, Raya Poin. Users can redeem their points for vouchers, coupons, and prizes through the Dinomarket platform. The partnership includes periodic auction events (Lelang Raya Poin) where users can bid using their accumulated points.

Scale indicators10 records

Recent moves5 records

Expansion highlights4 records

Emerging players

• Kredivo: Indonesian digital credit and BNPL fintech providing paylater and personal loans. Competes with Raya Paylater and Pinang Flexi in the unsecured consumer credit segment with similar target customers.
• KoinWorks: Indonesian peer-to-peer lending and SMB financing platform. Comparable as a digital lending alternative for UMKM and individual borrowers in the same market segment.
• Akulaku: Indonesian BNPL and consumer fintech platform operating across Southeast Asia. Comparable in the BNPL and digital consumer lending space where Raya Paylater competes.

Direct peers

• Jenius (Bank BTPN): Digital banking service from Bank BTPN (part of SMBC Group) serving Indonesian consumers with multi-pocket savings, e-money, and digital lending. Closely comparable mobile-first digital bank targeting similar customer segments in Indonesia.
• Bank Jago: Indonesian digital bank listed on IDX, offering digital savings, payments, and lending via mobile app. Direct competitor in the same Indonesian digital retail banking segment targeting consumers and UMKM with similar embedded finance and ecosystem strategies.
• Blu by BCA: Digital banking app from Bank Central Asia (BCA), Indonesia's largest private bank. Comparable as a subsidiary-led digital bank leveraging parent bank's brand and distribution to acquire Indonesian digital banking customers.
• SeaBank Indonesia: Indonesian digital bank from Sea Group (Shopee ecosystem) offering high-yield savings and integrated e-commerce payments. Directly comparable digital-first bank leveraging a large ecosystem for customer acquisition in Indonesia.
• LINE Bank by Hana Bank: Digital bank joint venture between LINE and Hana Bank in Indonesia. Comparable digital-only bank offering savings, transfers, and lending products to Indonesian consumers via mobile app.

Broad incumbents

• ShopeePay (Now PayLater by Shopee): E-wallet and BNPL service from Sea Group/Shopee Indonesia. Comparable as a digital wallet and consumer credit provider integrated into a major Indonesian e-commerce ecosystem.
• GoPay (GoTo Financial): Indonesia's largest e-wallet from GoTo, embedded in the Gojek super-app. Comparable digital payment and consumer finance platform with broader scope but overlapping QRIS and consumer finance offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCnpbUrNPUQOHleOIIvhCG_g/featured
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/pt-bank-raya-indonesia-tbk
• Instagraminstagram.com/bankraya
• TikToktiktok.com/@bankraya.id
• Xx.com/BankRaya

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Bank Raya