Governor of Bank Indonesia (BI) Perry Warjiyo stated that BI Fast Payment system will be launched this year to replace National Clearing System (SKNBI). This upgrade will speed up bank clearing time from 2-3 days to real-time. In addition, BI
During the pandemic, digital technology development in Indonesia has grown rapidly. Bank Indonesia commented that this is in line with the national plan to digitise payments and changing consumer preferences to use digital technology. E-commerce transactions are projected to increase
The Cento Ventures report shares that funding for Southeast Asian startups fell 3.5% year-on-year, to US$8.2 billion in 2020. 70% of the funding went to Indonesian startups, followed by 14% to Singapore, and 5% to Malaysia. The majority of the
Bank Jago signed an agreement with Akulaku Finance, a fintech company, to increase its funding facilities to an undisclosed amount. In 2020, Gojek, with its ~18% stake in Bank Jago, has provided funding of IDR100 billion to Akulaku Finance. The
Five banks, BRI, Bank Neo Commerce, KEB Hana, Permata, and J Trust, have come together to sign a channeling facility with Esta Group to lend to the MSME segment. Esta Group consists of Esta Kapital (fintech), Esta Dana Ventura (microfinance)
According to Bank Indonesia, Indonesia’s Sharia economy in 2020 shrank by 1.72% year-on-year, compared to the national economy which shrank by 2.07%. Despite the overall contraction in Indonesia’s Sharia economy, there were two priority sectors within the Halal value chain
In the beginning of 2021, Bank Indonesia observed an improved efficiency in banking operations. Labor costs and rental costs have decreased due to digitization, 0.03% and 0.05% YOY respectively. BRI reported its BOPO, operating cost to operating income ratio, of
‘Superapp’ refers to a closed digital ecosystem with many applications that users use daily. In Indonesia, the superapps are no longer limited to Gojek and Grab; Bukalapak, Shopee and Koinworks have also been developing a variety of services to become
The Chairman of OJK (Financial Services Authority), Wimbah Santoso, mentioned an improvement in credit growth, in line with the government’s strategy to promote a national economic recovery from the pandemic. The credit growth rate was at negative 1.92% as of
Governor of Bank Indonesia (BI), Perry Warjiyo, appealed to all banks in Indonesia to immediately reduce interest rates to provide credit stimulus to the private sector and grow the economy by 4.3 – 5.3% this year. To date, only banks
Follow us on LinkedIn for latest updates and open positions.
Copyright © 2025. All rights reserved.