The current pandemic conditions have forced the informal sector workers to be more creative in seizing available opportunities. The informal sector houses various occupations, from online motorcycle taxi drivers (ojek), resellers or dropshippers of online stores, to freelance content creators making their living via YouTube, Instagram, TikTok, and many others. These workers usually work on a freelance basis, with many of them relying on online platform as the main source of income.

Bank Raya was established with a vision to empower gig economy in Indonesia by enhancing digital infrastructure. Let’s take a look at the definition of gig economy and the type of jobs that can be categorized as gig economy jobs.

The Covid-19 pandemic that engulfed the world has forced the public to be more open-minded toward the use of digital payment for daily necessities. Inevitably, there is a demand for micro, small and medium enterprises or MSMEs to quickly adapt to the new normal by implementing digital payment systems.

PT Bank Raya Indonesia Tbk opened its first community branch in Cirebon, West Java, on 15 November 2021. The opening ceremony was attended by the Head of the Financial Services Authority (OJK) Office in Cirebon Mohammad Fredly Nasution, Head of the Representative Office of Bank Indonesia in Cirebon Bakti Artanta, President Director of Bank Raya Kaspar Situmorang, Director of Finance and Operations of Bank Raya Arif Wicaksono, and Commissioner of Bank Raya Rina Sa’adah, along with local leaders and stakeholders.

The Indonesian financial industry is in the midst of a fast-growing digitalization. This has the potential to increase financial inclusion for the unbanked and underbanked population in Indonesia. To achieve this potential, there has to be collaboration between banks and financial technology (fintech) companies in order to ensure growth of the ecosystem.

Fresh from its rebranding on 1 November 2021, PT Bank Raya Indonesia Tbk has implemented some significant changes, especially relating to the company’s vision and mission statements.

The new vision for Bank Raya is to be the Best Digital Bank for Agri and Beyond by Becoming House of Fintech and Home for Gig Economy. Bank Raya has also aligned its company missions to the new vision.

Effective on 27 September 2021, PT Bank Rakyat Indonesia Agroniaga Tbk officially changed its name into Bank Raya. President Director of BRI Agro Kaspar Situmorang stated that the rebranding is in line with its plan to transform its business model into a digital bank.

“This aligns with our commitment to transform the image of BRI Agro, previously connected to agriculture or a palm oil bank, into a full orientation as a digital bank,” he said.