Heaptalk, Jakarta — Fintech startup Superbank partnered with ride-hailing Grab to provide integrated digital banking services. These services assist Grab users and partners in opening accounts, saving, and using these accounts as payment methods directly in the Grab application.
In more detail, the integration between Superbank and Grab applications provides several features, including:
- Account opening without additional apps: this account can be linked as a payment method in the Grab app for various services, such as GrabFood, GrabBike, GrabCar, GrabExpress, and GrabMart. With this feature, the account registration process is faster and more efficient, and it can reduce the storage usage on users’ phones.
- 6% annual interest: Users who open accounts through the Grab app can earn yearly interest on their savings, which can be withdrawn at any time. This scheme gives users the opportunity to save more efficiently and profitably.
- Super discount and dine-out discount: Superbank offers a super discount of 75% for GrabFood and GrabBike as well as exclusive dine-out discounts for GrabFood users who use Superbank at renowned merchants in over 1,000 locations.
“We are excited to see how people can easily open accounts, save, and make payments directly through the Grab app. This feature supports our mission to transform banking in Indonesia with innovative and secure financial solutions. We believe that the presence of Superbank in Grab can simplify access to banking services and support them in managing their finances,” President Director of Superbank, Tigor Siahaan.
In addition to the above features and offers, Superbank is also gradually offering Pinjaman Atur Sendiri (PAS) to selected Grab users. PAS is an unsecured digital that can be applied for within minutes, with flexible credit limits and terms, as well as transparent interest and fee information for customers.
Supported by several parties in the industry, including Grab, EMTEK Group, Singtel, and KakaoBank, this startup continues to integrate cutting-edge technology in financial services into its products and offerings. Previously, Superbank introduced Celengan by Superbank, the first innovative savings product in Indonesia that allows customers to save small amounts daily automatically with a high interest rate of 10% per year, complementing the main savings and Saku by Superbank.
With this innovative services, this digital banking company recorded an increase in net interest income (NII) of US$6.8 million, (around Rp111.94 billion) in Q1 2024, growing around 71.08% compared to the same period last year of US$3.9 million, approximately Rp65.43 billion.
Nevertheless, the company still posted a loss of US$6.4 million, equivalent to Rp105.06 billion in Q1 this year. The company’s loss tripled to around 203.97% on an annual basis compared to the same period the previous year amounting to US$2.1 million, Rp34.56 billion.
“Superbank’s high savings interest offer at 6% per year is expected to help the community. This aligns with our mission to sustainably make a broader positive impact through technological innovation and economic empowerment. The presence of Superbank is expected to promote financial inclusion in Indonesia.” Country Managing Director of Grab Indonesia, Neneng Goenadi, said.
