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Digital Banks to conduct direct lending in 2022
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, Grab and Other Corporations invest in Digital Bank Allo
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$420 million (IDR 6 trillion). This gives Allo Bank
Growth in channelling partnership between P2P Fintechs and BPRs
There has been an increase in partnerships between peer-to-peers (P2P) and rural banks (BPRs), in line with OJK’s recent guidelines for cooperation between the two market actors to lend to MSMEs. Amartha, P2P, has recently partnered with BPR Hariarta Sedana
Qatar Fund for Development Partners with Impact Credit Solutions Pte Ltd (ICS) to Launch Indonesia Resilience Fund (IRF) targeting the Health Sector in Indonesia
Qatar Fund for Development (QFFD) signs an agreement with Impact Credit Solutions Pte Ltd (ICS) as a response not only to Covid-19 pandemic, but also to benefit the Indonesian Health Sector at large. This newly born Impact Investment fund will
Sri Mulyani asks BI and OJK to promote green credit from banking sector
The government estimates that the funding needed to achieve the target of reducing greenhouse gas emissions is in the thousands of trillions in IDR, and billions in US$. During the first day of the G20 meeting, Finance Minister, Sri Mulyani,
Flip, a consumer payment platform, raises US$ 48 million for its series B round
Flip is an Indonesia fintech that offers consumer payment services, and facilitates reliable transactions from anywhere to anyone. The Series B investment round was led by Sequoia Capital India, Insight Partners, and Insignia Ventures Partners. Some of Flip’s products are
BI prepares for Digital Rupiah (digital national currency)
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
PayLater product gains consumer confidence as an alternative to loans
Online credit platform company, Kredivo, is optimistic for the consumer facing buy now pay later (“PayLater”) product to gain more traction next year. Indonesia’s consumer behaviour has become increasingly digitized, with more consumers expecting seamless experience when making purchases. There
Digital banks partner with technology companies to strengthen digital financial ecosystem
With increased competition to become the leading digital bank in Indonesia, banks are choosing to target existing digital ecosystems and increase customer acquisition for products such as savings, transaction services, and loans. BCA Digital, for example, has partnered with Blibli,
Access Digital partners with Nikel to finance oxygen concentrators for Indonesia
DECEMBER 9, 2021 – PT Access Digital Frontier (Access Digital) and Nikel have partnered to finance the distribution of deployable oxygen concentrator systems during the COVID-19 pandemic. This financing is part of the Indonesian Resilience Fund, managed by Nikel (also