There are four banks categorised as a KBMI, or bank with total capital across group holdings above US$ 4.86 billion (IDR 70 trillion). They are Bank Rakyat Indonesia, Bank Mandiri, Bank Central Asia, and Bank Negara Indonesia. According to the
Digital banks, Bank Jago and Bank Neo Commerce, plan to launch loan products directly through their platform. Executive Director of the Indonesian Fintech Association (AFPI), Kuseryansah said, fintech peer-to-peer lenders do not consider digital banks as competitors, but as collaborators.
Bukalapak , CT Corp, Salim Group, Grab, Carro, and Growtheum Capital Partners have collectively invested into the capital pool of PT Allo Bank Indonesia, raising its capital base to more than US$420 million (IDR 6 trillion). This gives Allo Bank
Bank Indonesia (BI) plans to develop digital rupiah currency or Central Bank Digital Currency (CBDC). This development is beneficial for the financial technology sector and crypto assets that are being developed by various market actors. Deputy Chairperson of the Indonesian
Digital banks and fintech companies are partnering with social media companies like TikTok, Facebook, and LINE to better serve the MSME sector. Last week, Bank Aladin Syariah partnered with Facebook Indonesia to provide financial literacy training for small business owners.
OJK will be announcing the core capital requirements for digital banks, and explicit regulations concerning the incorporation of digital banks. The blanket capital requirements for fully digital banks is at IDR 10 trillion, or US$ ~700 million. This requirement is
The 7 banks are BCA Digital, BRI, Bank Neo Commerce, Bank Capital, Bank Harda Internasional, Bank QNB Indonesia, and Bank KEB Hana. There are already 5 digital banks – Jenius from Bank BTPN, Wokee from Bank Bukopin, Digibank from DBS
Standard Chartered and Bukalapak will be launching a new mobile application for digital banking services. This application will provide a completely digital onboarding process without in-person verification. This innovation combines the benefits of e-commerce platforms’ reach and banking-as-a-service to provide
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.
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%
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