Nium, the global infrastructure for real-time cross-border payments, is pleased to announce a partnership with Bank Rakyat Indonesia (BRI) in order to offer Indonesian customers with real-time international money transfer capabilities.
This collaboration aims to streamline the various cross-border offerings for BRI’s individual and corporate customers, delivering accessible and “cost-effective” financial services across Indonesia.
This partnership reportedly empowers 150+ million BRI account holders, including those in remote locations of the Southeast nation of Indonesia, to access real-time cross-border payment services.
The latest product offering includes real-time payment mechanisms, supporting bank account destinations, a global electronic card network, and digital wallets.
These innovations are closely aligned with BRI’s ongoing mission to provide affordable and customer-focused financial products, particularly for traditionally underserved communities.
BRI’s Corporate Secretary, Agustya Hendy Bernadi, emphasized BRI’s dedication to constantly improving customer convenience through “innovations in its global network and cross-border transaction services.”
Anupam Pahuja, GM and Executive Vice President for Asia Pacific, MENA at Nium, shared his enthusiasm about the strategic partnership, highlighting BRI’s “extensive presence” across Indonesia’s 17,000 islands.
Cross-border payments are expected to increase considerably in Indonesia, with a protected YoY increase of 15% through 2025, driven by the digital transformation in financial services .
This partnership between BRI and Nium is set to enhance the way Indonesians engage with financial services, meeting the demand for advanced payment infrastructure and improving the overall experience for BRI’s clients in their global transactions.
As reported last month, Nium, the global enabler of real-time cross-border payments, announced that its monthly payment volume grew by 3X in Oceania, over the last year.
This growth has been driven by a surge in adoption from financial institutions and spend management platforms, with AI platform, RedOwl, being the “latest partner to join the Nium network.”
RedOwl’s aim is to bring AI to corporate cards, joining spend management providers Weel and Budgetly, who have used Nium for “white-label” card issuing and cross-border payouts.
RedOwl is bringing the power of AI into payment rails, supporting intelligence as well as real-time decision making when it comes to card related payments.