Financial Literacy Program – WISE
The implementation of financial education in order to improve financial literacy for the Indonesian people is very important because based on the survey conducted by OJK in 2019, shows that the financial literacy index has only reached 38.03% while the financial inclusion index reached to 76.19%.
Based on regional level, for urban financial literacy index reached 41.41% and financial inclusion of urban communities reached to 83.60%, while the literacy index and financial inclusion of rural communities are 34.53% and 68.49%. The survey results also showed that based on gender literacy index and financial inclusion of men are 39.94% and 77.24%, relatively higher than women at 36.13% and 75.15%.
Based on this, since 2014, Commonwealth Bank has focused on Financial Literacy activities targeting women through WISE (Womenpreneur Indonesia for Sustainability & Empowerment) program. WISE is a financial literacy and inclusion program for women entrepreneurs launched by the Bank, which aims to improve the financial well-being of Indonesian women through an integrated and sustainable financial literacy program. The target participants of the WISE program are small and medium women entrepreneurs.
The implementation of the WISE program is conducted through various activities including face-to-face meetings / workshops, educational articles on the WISE mobile application and Micromentor digital mentoring platform.
The WISE mobile app can be downloaded via smartphone. In this app, Indonesian women who are members of the WISE community will get access to information about finance, business, investment and special economics for women such as expense calculators, investment calculators and mortgage calculators to help them in their daily lives.
This app will also function as a social media that connects them with other women to share information and tips for self-development.
The launch of this app is also the company's commitment to continue to innovate in an effort to provide easy and reliable access to information and to reach more Indonesian women.
The WISE program is dedicated for women to have a proper understanding of various financial systems and instruments, so that they will be able to make the right financial decisions.
In 2019-2020, Commonwealth Bank also collaborated with several partners who have the same vision and mission in increasing financial literacy for Indonesian women, such as holding a workshop program with the women's community from one of the largest e-commerce in Indonesia, and presenting the MicroMentor program which is the first digital platform in Indonesia that was built to connect experienced entrepreneurs and professionals from various industries to become mentors and conduct personal mentoring with small and medium entrepreneurs as participants.For more information about the WISE program, please contact