SayaKaya Officially Launches, Presenting Differentiation from Other Investment App
The opportunity for wealthtech players to work on the Indonesian market is still promising. The ratio of investors in the capital market to the total population of Indonesians is still far from that of neighboring countries.
Even so, it needs a prominent differentiation in order to be able to attract new users from the targeted target. SayaKaya is a new player playing in the wealthtech application with the mutual fund asset class as its initial offering.
The reason the company entered the mutual fund asset class is none other than the increase in the number of mutual fund investors by 55% yoy to 4.93 million people as of June 2021.
This startup is part of the Sucor Group, which has business units in securities (Sucor Sekuritas) and investment managers (Sucor Asset Management). In terms of status at OJK, it has been registered as APERD since October 2021.
Within the group itself, the digital platform that has been presented is SPOT (Sucor Personal Online Trading) as a share trading platform owned by Sucor Sekuritas.
Optimistic About SayaKaya
The entry of investment companies into digital platforms is certainly an interesting thing, considering that they have to compete with startups that are more adaptive and agile in innovating.
However, SayaKaya CEO Jessica Wijaya expressed his optimism about the added value that SayaKaya offers. SayaKaya is a part of Sucor by taking the value of Sucor, namely prioritizing investment education and providing a WOW experience.
“This value makes SayaKaya prioritize easy-to-absorb and fun education to improve literacy, and provide a WOW experience for users while investing,” Jessica said when contacted by DailySocial.id, Wednesday (26/1).
He said that today’s young generation still has a relatively low level of financial literacy, even though they are already tech-savvy. Quoting from OJK, those aged 18-25 years only have a literacy rate of 31.1%, while those aged 25-35 years have a slightly higher literacy rate, which is 33.5%.
Therefore, the age group of 18-45 years is the main target targeted by SayaKaya. More or less the same target as other wealthtech players.
“Therefore, SayaKaya is here not only to be a means of buying and selling mutual fund products, but also to provide education to improve investment literacy so that Indonesian people avoid fraudulent investments, and become more aware of preparing pension funds or emergency funds through investment.”
He continues as a differentiation compared to other players, there are several points that he excels in from Saya Kaya. First, in terms of curated mutual fund products, with the aim that new users who are new to the investment world don’t have to worry about choosing which product is best for them.
SayaKaya’s Target in the Future
So far, SayaKaya has owned more than 20 mutual fund products, the majority of which are conventional and sharia mutual funds. These products come from several investment managers who have shown consistent good performance, such as Sucor Asset Management, Trimegah Asset Management, and Syailendra Capital.
This product can be purchased starting from IDR 100 thousand, even though the plan is to make it much easier to access it to IDR 10 thousand.
According to him, this type of mutual fund has the convenience of asset diversification, where investment will be spread across several instruments using calculations and analysis from professional investment managers. Thus, fluctuations in each asset will be mutually compensated and investors will get optimal returns.
Next, is to prioritize the human touch in order to promote emotional relationships. Users can contact the team as the customer experience team by telephone. In this regard, SayaKaya plans to provide personal financial consultation with a licensed financial planner.
Third, there is a loyalty program, which users can use to collect points through investing and get rewards from collecting these points, in order to attract users’ interest in investing.
Jessica targets at least this year Saya Kaya can have 200 thousand active users. Unfortunately, there is no mention of the target for the funds under management.