Search Results for: indonesia

Singapore-based Fintech CredoLab Recognized by Financial Services Authority as Financial Tech Provider to Indonesian Firms

Singapore-based Fintech firm CredoLab has confirmed that the Financial Services Authority (OJK) has officially recognized it as an established provider of financial technology services to companies in Indonesia. Michele Tucci, chief product officer at CredoLab, stated: “Clients can rely on the OJK’s assessment and audit… Read More

Indonesia’s Private Lending Institution PT Bank Yudha Bhakti Partners Fintech Firm Akulaku to Support Bank’s Digital Transformation Strategy

Private lending institution PT Bank Yudha Bhakti Tbk (BYB) has revealed that its partnership with Fintech solution provider Akulaku has enhanced the bank’s digital transformation strategy by delivering several key outcomes or results. The two organizations have developed BYB’s Hands-on Application by Yudha Bhakti (HAY)… Read More

Chinese Fintech FinVolution Receives Technology & Information Based Financial Lending Institution License From Financial Services Authority of Indonesia

FinVolution Group, a China-based fintech that connects underserved individual borrows with financial institutions, announced on Monday it received a license for Technology and Information-Based Financial Lending Institution (peer-to-peer lending license) from the Financial Services Authority of Indonesia.  As previously reported, FinVolution claims to be a pioneer… Read More

NIUM, formerly InstaReM, Expands into Indonesia

The recently-rebranded NIUM, formerly InstaReM, has received the Fund Transfers license from the Bank Indonesia and will now offer cross border digital payments. NIUM’s Indonesian operations will be headed by Vadyo Munaan, who comes with experience in financial services and payments industry at organizations including… Read More

Kapital Boost Receives Regulatory Approval in Indonesia to Provide P2P Crowdfunding for SMEs

Kapital Boost, an Islamic peer-to-peer crowdfunding platform for SMEs, has received regulatory approval from the Indonesian Financial Services Authority (OJK). Kapital Boost described the approval as “validation that its business model and processes are in accordance with Indonesia’s financial services regulatory requirements, which has gotten… Read More

Investment Crowdfunding Platform Ethis Receives 3rd Regulatory Approval, Gains Indonesia Authorization

Ethis has received regulatory approval to operate in Indonesia marking the third market this year where the platform may now provide online capital formation. Ethis received approval to provide peer to peer crowdfunding as authorized by the Financial Services Authority of Indonesia. Prior to this… Read More

There are 249 Fintechs in Indonesia with Peer to Peer Lending and Payments Leading the Way

Indonesia is the is 16th largest economy and the 4th largest by population in the world. Both of these numbers are expected to grow in the coming years. There are around 45 million Indonesians who are considered middle class – a number that is joined… Read More

Indonesia’s State-Owned Pawnshop PT Pegadaian to Invest $35 Million in Local Fintech Firms

The state-owned pawnshop PT Pegadaian in Indonesia is reportedly planning to invest Rp 500 billion (appr. $35.26 million) in several local Fintech firms this year. President director Kuswiyoto noted on September 30 that the investment would go toward funding the operations of five Fintech companies…. Read More

UNDP Partners With 500 Startups to Invest in Indonesia’s Evolving Startup Ecosystem

United Nations Development Program (UNDP), an organization that provides expert advice, training, and grants to developing countries, is partnering with Silicon Valley venture capital firm and project accelerator 500 Startups, in order to make investments in Indonesia’s emerging startup ecosystem. The UNDP will be working… Read More

Ping An’s OneConnect Signs MoU With Indonesia Insurtech Asuransi Sinarmas

OneConnect Financial Technology Co. Ltd. (OneConnect), an associate company of China’s insurance giant Ping An Group, announced on Wednesday it has signed a memorandum of understanding (MoU) with insurer Asuransi Sinarmas, a unit of Sinarmas. OneConnect reported that through the MoU it will enable Asuransi Sinarmas to… Read More

Indonesian Digital Credit Platform Kredivo Closes $20 Million Debt Line

Kredivo, an Indonesia-based digital credit platform, announced on Wednesday it has closed its debt line of up to $20 million to fund loans for its borrowers. According to Kredivo, the debt line was conducted with Partners for Growth V, L.P. (PFG), a venture debt firm… Read More

Hexindai-Backed Musketeer Completes Registration For P2P Platform With the Indonesian Financial Services Authority

Chinese peer-to-peer lending platform Hexindai (NASDAQ: HX) announced last week its invested Indonesian online lending platform, Musketeer Group, Inc. (Musketeer) has completed registration for its peer-to-peer lending platform with the Indonesian Financial Services Authority (OJK). Hexindai notably acquired a 20% equity stake in Musketeer in… Read More

P2P Lender Validus Capital Announces Expansion Into Indonesia Following $15.2 Million Investment

Singapore based online lender Validus announced this week that following its $15.2 million fundraise the lending platform has formally launched in Indonesia through its domestic business entity, Batumbu, in partnership with Indonesia’s Triputra Group. As previously reported, Validus was launched in 2015 and claims to… Read More

PINTEC-Backed Avatec to Participate in Indonesia’s Digital Financial Innovation Sandbox Program

Pintec Technology Holdings Ltd. (PINTEC; Nasdaq: PT), an independent platform enabling financial services in China, announced on Monday PT. Avatec Services Indonesia (Avatec Indonesia), a wholly-owned subsidiary of Avatec.ai (S) Pte. Ltd (Avatec), has been approved by the Indonesian regulator to be a credit scoring… Read More

Robocash Expands into Islamic Finance with Lending Service in Indonesia

Online lending company Robocash Group has moved into the Islamic finance sector via a partnership in Indonesia with Reliance Finance. Robocash has launched a new Fintech service providing personal financing in full compliance with the Shariah law. Robocash said the new service has been labeled… Read More

SE Asian Fintech Akulaku Set to Acquire Indonesian Lending Bank Yudha Bhakti For Rp 158 Billion

Akulaku, a SE Asia-based fintech, is reportedly set to acquire Indonesian lending bank Yudha Bhakti for Rp 158 Billion ($11 million). Founded in 2016, Akulaku is a fintech company that is focused on providing financial services to the underserved. The company has established offices in five countries/regions,… Read More

Ping An’s Fintech Subsidiary OneConnect Commences Operations in Indonesia

OneConnect, a subsidiary of China’s insurance giant, Ping An, announced on Thursday it has commenced operations in Indonesia to enable local banks and financial institutions to accelerate their efforts in digitization of financial services and move towards a more inclusive financial industry. This news comes just a few months… Read More

Indonesia Requiring Crypto Futures Brokers to Maintain Minimum Deposits of $71.17 Million

Regulators from the Indonesian Commodity Futures Trading Agency, Bappebti, have passed a law requiring individuals and firms brokering cryptocurrency futures products to maintain minimum balances of 1 trillion rupiahs ($71.17 million). According to Reuters, the rule has been implemented, “To encourage trade and protect customers.” The requirement,… Read More

JB Financial Group Signs MOU With CIMB Niaga For Open Banking Platform Business in Indonesia

JB Financial Group (KRX:175330), a Korea-based retail finance group, announced on Monday it has signed a memorandum of understanding (MOU) with CIMB Niaga, a leading Indonesian commercial bank, and MITRA JASA LIMA for the open banking platform business in Indonesia.  According to JB Financial, the… Read More

Pundi X Partners With HARA to Bring Blockchain POS Devices to Indonesian Agriculture Industry

Pundi X (CURRENCY: NPXS), an Indonesia-based global developer of blockchain-powered devices, announced on Thursday it has partnered with HARA, an Indonesia-based company that is dedicated to revolutionizing global agriculture with data, to deploy thousands of blockchain-based point of sales (POS) devices to farmers to facilitate data collection… Read More

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