Whiz provides a digital financial management platform and e-money service tailored for families, enabling users to conduct quick payments via QRIS and manage expenses through features like Split Bill. The platform offers high-yield savings products, such as Smart Saver, which provides competitive daily interest rates fully guaranteed by the LPS. Users benefit from flexible, penalty-free fund withdrawal options and secure management of their savings across partner banks.
Funding
$500K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many Indonesians lack access to financial tools that offer returns high enough to outpace inflation, eroding the value of their savings over time. Traditional savings accounts and deposits often provide interest rates lower than the annual inflation rate, diminishing purchasing power.
Solution
Whiz provides a digital savings platform that partners with Bank Perkreditan Rakyat (BPR) to offer Smart Saver accounts with interest rates up to 6.75% per annum. These accounts are insured by the Indonesian Deposit Insurance Corporation (LPS), ensuring the safety of deposits up to IDR 2,000,000,000. The platform offers flexible deposit terms ranging from 1 to 12 months, allowing users to grow their savings while mitigating the impact of inflation.
Target Audience
Whiz primarily targets Indonesian individuals and families seeking a secure and accessible digital savings solution that offers competitive interest rates to protect their savings from inflation.
Features
- Smart Saver accounts offering interest rates up to 6.75% p.a.
- Deposits insured by LPS up to IDR 2,000,000,000 per depositor per bank
- Flexible deposit tenors ranging from 1 month to 12 months
- Digital platform accessible via mobile app for account management and transactions
- QRIS payment support for fast transactions
- Day-to-Day Saver feature for daily interest accrual
- Partnership with multiple BPRs licensed and supervised by OJK and Bank Indonesia