ILLUSTRATION. DANA, one of the largest digital wallet services in Indonesia, has used HERE’s location services to power its financial inclusion services in Indonesia.
KONTAN.CO.ID – HERE Technologies, a leading location data and technology platform, today announced that DANA, one of the largest digital wallet services in Indonesia, has used HERE’s location services to power its financial inclusion services in Indonesia.
Indonesia has the third largest population in the world after China and India[[i]]for the population who do not have traditional bank accounts or access banking services, or who are often described as bankless, even though the pandemic has accelerated the adoption and adoption of digital financial services. To support the economic recovery, the Indonesian government launched the National Strategy for Financial Inclusion[[ii]]or SNKI, which aims to be 90% financially inclusive by 2024.
As a growing financial technology company in Indonesia, DANA strives to provide the Indonesian people with a trusted digital payment platform where business partners and consumers can transact securely and conveniently. To do this, the DANA platform uses the HERE Geocoder and Reverse Geocoder API (Application Programming Interface) to reach users – especially those in rural areas by offering a better experience to their users. HERE’s API technology also enables DANA partners to deliver digital offerings that are more efficiently designed according to their users.
Vince Iswara, Co-Founder and CEO of DANA Indonesia said: “We are always striving to use our inclusive financial technology platform to drive national economic growth. Therefore, we have combined our lifestyle-based finance application with the HERE platform to ensure that we also reach a large segment of the Indonesian unbanked population, as well as those who already have a bank account but do not yet have access to other financial products (underbanked ) and allow Indonesians to conduct transactions more smoothly.”
HERE Geocoding API technology provides precise geo-coordinates of known addresses, places, localities or administrative regions in over 100 countries and regions. Additionally, the reverse geocoding feature allows HERE DANA users to find the closest address by using coordinates or by selecting a location point on the in-app map.
In the last four years, DANA has reached more than 110 million users with an average of 10 million transactions per day. With the help of HERE Technologies, the financial technology company hopes DANA’s growth will be positive and more inclusive thanks to the rise of location-based transactions.
Abhijit Sengupta, Senior Director and Head of Business for Southeast Asia and India at HERE Technologies, said: “We are proud that HERE Location Services are supporting DANA in strengthening financial inclusion in Indonesia and laying a strong foundation for sustainable economic growth for the country to accomplish. Location data is firmly embedded in our daily activities and with the digital ecosystem currently thriving in Indonesia and Southeast Asia, there is still a great opportunity for businesses to use location information to bridge the financial inclusion gap in Indonesia.”
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