Many conventional banks have started providing digital lending products to adapt to changing customer preferences and in anticipation of digital banks. In 2019, BRI introduced in-house lending platform, Ceria, with volumes of IDR 61 billion (US$4.5 million) and11,676 users at
Effective from 10th February 2021, Bank BKE has changed its name to Bank Seabank Indonesia, after officially acquired by Sea Group’s e-commerce platform Shopee. This effort by Shopee is to grow its payments arm, PayLater, and enter the digital banking
According to research by EIU, commissioned by USAID, fintechs can play an important role in reducing the risk and cost of lending to smallholder farmers, and drive the transition to sustainable agriculture. Smallholders make up one-third of the Southeast Asian
Since the start of the pandemic, SMEs are entering the digital ecosystem to reach customers. Bukalapak and Tokopedia claim their SME merchants increased their income by 1,400% (x15) since joining the platform. In 2020, Bukalapak reported 5 million SMEs on
According to Anung Herlianto, Executive Director of Banking Research and Regulation of the Financial Services Authority (OJK), most of the main indicators show that Indonesia’s banking sector is still stable. However, banks must remain vigilant, as both the gross non-performing
The Financial Services Authority (OJK) has prepared new regulations to increase fintech lending outside Java to 25%. As of September, this figure is only 14.2%. This new regulation will be implemented over three years, with a 15% requirement in the
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