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Fintech News

Fintech credit distribution to MSMEs sector increases

OJK noted that the distribution of credit by fintech lenders to the productive sector continues to increase, reaching US$ 8 billion (IDR 114.76 trillion) as of October, and 43.6% of the total disbursements are channeled to productive sectors. In 2020,

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Fintech News

OJK plans to limit institutional lenders in fintech lending

Institutional lenders (sometimes referred as ‘super lenders’) currently dominate in providing capital for fintech lending. Based on OJK data in September 2021, retail investors contributed 22.8% of outstanding loans with a value of US$ 430 million (IDR 6.14 trillion). However,

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Fintech News

Latest report on Indonesia digital economy

Google, Temasek, and Bain released a report estimating Indonesia’s digital economy’s value at US$ 70 billion (IDR 997 trillion) for this year, a 49% year-on-year growth. The report also estimates the digital economy to reach US$ 146 billion (IDR 2.08

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Fintech News

AFPI announces 50% reduction in consumer interest rates

The Indonesian Joint Funding Fintech Association (AFPI), an OJK-appointed regulator, aims to cut daily interest rates significantly, up to 50%. Economists shared that this mandate has several negative implications, such as decline in fintech-investors, and decline in disbursement volumes. Alternative

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Fintech News

Emtek acquires majority shares in Bank Fama

Emtek Group, as shareholder of Grab Teknologi Indonesia (GTI) and Bukalapak, will acquire 93% of PT Bank Fama Internasional’s shares through its subsidiary, PT Elang Media Visitama (EMV) by the end of 2021. Established in 1993, Bank Fama, has assets

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