Line, the messaging app-provider, announced its plans to launch Line Bank, a digital bank, in Indonesia, Taiwan and Thailand. In Indonesia, Line Bank is supported by PT Bank KEB Hana Indonesia. Line Bank will offer online banking services including deposit
Kredivo, a fintech peer-to-peer company (P2P), acquired 24% of PT Bank Bisnis Internasional Tbk (BBSI) shares valued at US$38.5 million (IDR 551.31 billion). The management of BBSI shared that the change in share ownership had no impact on business operations.
ALAMI, P2P for sharia lending, acquired one of the rural Sharia banks (BPRS) located in Jakarta, as part of its expansion to position itself as a leading sharia fintech company. The acquisition process was carried out in stages at the
Digital wallet companies are seeking growth through lending, with some acquiring peer-to-peer companies as part of their growth strategy. Most recently, LinkAja, a digital payment company, acquired iGrow, a peer-to-peer fintech company. Similarly, OVO also partnered with Taralite since 2019
Indonesia’s share of the Sharia fintech market is currently US$2.9 billion (or IDR 41.7 trillion), coming in fifth behind Saudi Arabia, Iran, United Arab Emirates and Malaysia. According to Adrian Gunadi, Chairman of Indonesia Fintech Association (AFPI) and CEO of
Payment gateway fintech company, Xendit, raised Series B funding of US$64.6m (IDR938 billion) last month. The funds will be used to target the MSME sector, as it contributes to over 60% of Indonesia’s GDP and employs the majority of the
Shopee, e-commerce giant, and Jakpat, market research firm, conducted a survey with 1,214 respondents to understand consumer behaviour during the Ramadan fasting month. The results revealed that 80% of respondents surveyed in April used digital wallets for transactions, while 56%
Bank BRI launches Ceria, a consumer lending product with easy application and processing that can be used for purchases on e-commerce and travel sites. This is the bank’s effort to be competitive with the value proposition of ‘fast application and
BI has yet to announce the issue date for Central Bank Digital Currency (CBDC), but shared that it will involve a multi-year implementation plan. On-going evaluations are performed by BI to understand implications on the macro economy, monetary and fiscal
The Indonesian Joint Funding Fintech Association (AFPI) is expecting total loan disbursement of IDR86 trillion (US$5.9 billion) for 2021, a significant increase from IDR65 trillion (US$4.46 billion) in 2020. According to OJK, the non-performing loans (NPL) for outstanding credit past
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