Malaysia-based private equity firm Creador has acquired a controlling stake in Indonesia-based B2B hospitality marketplace MG Group from Indonesia Northstar and other shareholders, marking its entry into the global travel industry. The acquisition highlights Creadorās focus on Southeast Asiaās rapidly recovering travel sector, driven by… Read More
Indonesia-based real estate marketplace Lamudi, a subsidiary of Australiaās Digital Classifieds Group, announced the acquisition of Ideal, a Fintech aggregator specializing in mortgage products in Indonesia. This strategic move aims to integrate mortgage facilitation into Lamudiās platform, offering a more comprehensive solution for property buyers… Read More
Indonesiaās Financial Services Authority (OJK) has officially revoked the business license of peer-to-peer (P2P) lending platform PT Investree Radhika Jaya (Investree), citing the companyās failure to comply with minimum equity requirements and other regulatory standards. The decision marks a significant crackdown by OJK on financial… Read More
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 BRIās individual and corporate… Read More
Indonesian donation and crowdfunding platform Kitabisa has officially entered the countryās insurance sector by launching Kitabisa Insurance, a sharia-compliant subsidiary, marking a significant step in addressing Indonesiaās notably low insurance penetration rate, according to DealStreetAsia. The announcement follows the subsidiaryās introduction of its first product,… Read More
The US, Indonesia and Turkey are leading the crypto and blockchain markets with 33% of RWA crypto interest, according to a report from CoinGecko. CoinGecko notes in its report that the country most interested in crypto Real World Assets (RWA) is “the US, which accounts… Read More
Tether Operations Limited, which claims to be one of the largest companies in the digital asset industry, and Reku, a crypto exchange platform, are pleased to announce a strategic collaboration to broaden Indonesiansā understanding of crypto assets and blockchain technology. This initiative will be executed… Read More
The Central Bank of the UAE (CBUAE) and Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) to enhance bilateral cooperation in payment systems. This agreement was formalized during a visit to the UAE by Indonesian President Joko Widodo. The MoU, signed by Khaled… Read More
Indonesia’s government is stepping up its efforts to curb online gambling through a newly formed task force announced by Coordinating Minister for Political, Legal, and Security Affairs, Hadi Tjahjanto. The task force aims to sever access to international online gambling platforms and closely monitor associated… Read More
International insurtech bolttech has announced its partnership with HAVA.id, a B2B procurement company in Indonesia. HAVA.id will offer comprehensive device protection solutions “to its business customers as part of its procurement consultancy services to ensure their valuable inventory of technology devices is safeguarded.” As part… Read More
Fintech player Helicap Pte Ltd has partnered with PT Bank Danamon Indonesia Tbk (Danamon) to establish the duo as a pivotal source of non-dilutive growth capital for fintech companies, alternative lending firms, and micro, small, and medium enterprises (MSMEs) across various sectors, including supply chain,… Read More
Komunal, a Jakarta-based FintechĀ startup, has successfully raised $5.5 million in its extended Series A funding. The round was backed by a range of investors, including the prominent Sumitomo Corporation, and received support from existing backers like AlphaTrio Sustainable Technology Fund, Skystar Capital, Sovereignās Capital, Ozora,… Read More
Citi (NYSE: C) announced it has successfully completed the sale and full migration of its Indonesia consumer businesses to UOB Indonesia (UOBI). The sale includes retail banking, credit card, and unsecured lending businesses, “as well as the transfer of employees.” Citi and UOB first announced… Read More
Indonesia’s central bank, the Financial Services Authority (OJK), has partnered with the country’s fintech associations to issue what it describes as ethical guidelines on artificial intelligence (AI) use in the context of the fintech industry. The guidelines were formulated in collaboration with four leading fintech… Read More
The latest Residential Property Price Survey conducted by Bank Indonesia in the third quarter of 2023 indicates “that residential property prices in the primary market are still rising annually, with growth of the Residential Property Price Index (RPPI) accelerating to 1.96% (yoy) from 1.92% (yoy)… Read More
Indonesian fintech lending platform Investree has announced raising about $231 million in its Series D funding round anchored by Qatarās JTA International Holdings with participation from SBI Holding. Following the investment, JTA International Holding and Investree have completed the setup of a joint venture company… Read More
The Asian Development Bank (ADB) has approved a $500 million loan to bolster Indonesiaās progressive endeavors in streamlining investment climates, fortifying trade, and advancing enterprises. The approval is an extension of the Competitiveness, Industrial Modernization, and Trade Acceleration Program (CITA), following the success of its… Read More
Indonesian President Joko Widodo, popularly known as Jokowi, raised concerns regarding the influence of social commerce platforms like TikTok Shop on the operations and sales of micro, small, and medium enterprises (MSMEs) and traditional market merchants. He opined that platforms like TikTok should stick to… Read More
Under its chairmanship of ASEAN this year, Indonesia is placing a strong emphasis on the expansion and enhancement of the region’s local currency transaction (LCT) network. The move is aimed at fortifying trade and investment, streamlining cross-border payments, and advancing financial asset substitutability. Iss Savitri… Read More
PT Bank BTPN Tbk, one of Indonesia’s leading banks, has transformed its Human Capital Management (HCM) processes by partnering with Darwinbox, the global HR technology provider. With this strategic move, the bank reaffirms its commitment “to providing valuable opportunities to make a significant impact on… Read More
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