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Four largest banks drive operation efficiency by digital transformation
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
Sri Mulyani extends MSME tax incentive for 2021
The Government of Indonesia announced the extension of tax incentives for Micro, Small and Medium Enterprises (MSMEs). In addition, Bank Indonesia issued a regulation on banking obligations to fulfil credit distribution for MSMEs and low-income individuals (PBR) at least 20%
OJK reports increased levels of loans at risks
OJK is closely monitoring the high levels of risky credits (or loans at risk) at banks to ensure that financial markets remain healthy as Indonesia enters the third year of the C-19 pandemic. OJK shared that the gross non-performing-loans (NPL)
Key changes in OJK-regulation concerning fintech peer-to-peer lenders
OJK plans to roll out new regulations governing fintech peer-to-peer lending activities in order to strengthen the sector’s operations, and increase consumer protection. The changes in the regulation covers ownership of the fintech lender, funding limits, equity and capital requirements,
Indonesian e-commerce solutions company Sirclo acquires Warung Pintar
Sircolo, an e-commerce solutions company, acquires Warung Pintar, a marketplace for independent retailers (“warungs”). The acquisition aims to strengthen Sirclo’s proposition as the go-to omnichannel solution for brands, distributors, MSME merchants, and end consumers. Sirclo Group CEO, Brian Marshal, said
Fintech and Banks Continue to Develop Paylater Business
Delayed instalment repayment of goods from point-of-purchase, or Buy-now-pay-later (BNPL) scheme has been growing fast since the beginning of Covid-19 pandemic. For example, Kredivo company works with major e-commerces in Indonesia, and has ~50% of the wallet share of transactions
Leading banks to embrace digital transformation
Digital banking transactions are gaining popularity due to improved customer experience. This trend is also supported by the growth in merchants providing cashless payment options for consumers. Bank Indonesia predicts the value of digital banking transactions to reach US$ 3.45
Increasing Omricon cases in Indonesia
The average daily cases in Indonesia as of last week, is at 1,808 cases per day, which is significantly low compared to global figures. President Joko Widodo had urged the population to get booster shots, as a step to prevent
Bank Indonesia predicts inflation to rise in the third quarter
Bank Indonesia (“BI”) expects rising inflation for 2022 Q3. This will result in BI raising benchmark interest rate, which is currently at the lowest level in history. BI Governor Perry Warjiyo commented that 2022’s inflation rate will be higher than
iGrow Partners With Nikel To Channel Agriculture – Focused Loans
iGrow, an Indonesian fintech peer-to-peer lender, partners with Nikel, to channel more productive loans to agribusinesses and farmers. Nikel is a leading embedded lending technology company that connects capital to small businesses with end-to-end lending solutions for banks, alternative lenders,