JAKARTA - BTPN Wow!, a banking product developed by PT Bank BTPN Tbk (BTPN), has obtained international recognition through the 2020 Schwab Foundation Awards.
A sister organization of the World Economic Forum, the Schwab Foundation for Social Entrepreneurship (the Schwab Foundation) conferred the Award to Hadi Wibowo for his contribution to the development of BTPN Wow! during his term as Head of Branchless Banking 2017-2019. Hadi now serves as the President Director of PT Bank BTPN Syariah Tbk, a sharia subsidiary of Bank BTPN.
BTPN Wow! is a low-cost financial product that offers savings, loan, and payment services to unbanked persons, especially those living in rural areas. The product’s development is in line with the Financial Services Authority’s (OJK) branchless banking program, “Laku Pandai.”
“BTPN Wow! aims to support low-income households that have no access to the banking system, to help them meet their individual and business needs,” said Hadi in a statement to the Schwab Foundation
BTPN Wow! has served more than 6.7 million customers through around 290,000 agents and has raised approximately Rp 140 billion in deposits since its launch in March 2015. (LM)