Press Release

Jack: Transformation of Transfez for Business

The landscape of business finance management in Indonesia is being transformed today with the launch of Jack, an innovative financial management platform. Built on the established reputation of Transfez, Jack is meticulously designed to empower businesses by vastly streamlining and automating their financial processes.

“Jack was developed in response to various financial challenges faced by businesses in Indonesia, such as limited access to corporate credit cards and inefficient financial procedures. By harnessing the power of cutting-edge AI technology, Jack revolutionizes financial processes and enhances productivity up to tenfold while ensuring privacy and data security,” said Jack and Transfez CEO, Edo Windratno.

Jack provides a comprehensive range of financial solutions including Corporate Cards, Reimbursement, Bill Payment, Payroll, Local Transfer, and International Transfer. By providing a holistic solution based on real-time and centralized data, Jack assists businesses in overcoming the challenges of decentralization resulting from the utilization of multiple platforms and various vendors.

In the months following Jack’s beta launch through the Transfez for Business platform, Jack’s capabilities have been recognized by clients across various business scales, ranging from SMEs, startups, to enterprise companies, and has assisted these clients in achieving substantial savings up to 60% on transactional and operational cost, which is equivalent to over Rp 30 billion per year, and  7,800 hours of the finance team’s working time. Jack’s clients come from different industries, from entertainment, FnB, construction to retail, including Visinema, Adhimix Precast Indonesia, Impactto, and Love Bonito. 

With Jack, business owners and finance teams can have full control over company expenses, enhance employee accountability through real-time tracking systems, automate payments, reduce transaction costs, and alleviate the workload of the finance team. Equipped with an easy approval process accessible through the mobile app or website, Jack assists each client in managing their finances flexibly.

“The impact of Jack goes beyond time and cost savings, but also enhances control, transparency, and accountability in a company’s financial processes,” added Edo.

Backed by leading venture capital firms including East Ventures, BEENEXT, Y Combinator, and Global Brain, Jack sets the standard for a new era in corporate finance management by providing comprehensive and efficient solutions to meet modern business needs.

Alongside Jack as the spearhead solution for corporate financial management, the Transfez app will continue to provide affordable and convenient cross-border transfer services for non-corporare users, as Transfez becomes part of Jack’s expansion journey in the mission to broaden the range of financial services provided.

About Jack

  •  Jack rebranded from Transfez for Business on July 6, 2023
  • Jack is supervised by Bank Indonesia and PPATK under the Anti Money Laundering and Counter Financing of Terrorism (AML/CFT) regulations: 19/10/PBI/2017 and is regulated by Bank Indonesia as an official remittance institution with license number: 13/77/DASP/30.
  • Jack is a cutting-edge financial management platform in Indonesia that streamlines procedures, gives decision makers more authority, and helps finance teams save time and cost. 
  • With comprehensive solutions and advanced AI technology, Jack ensures expense control, enhances employee accountability, and automates payments. 
  • Jack has gained trust from SMEs, startups, and established enterprises, Jack revolutionizes business finance and sets the stage for the future with continuous advancements.

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