Search Results for: indonesia

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

Monetary Authority of Singapore Signs Fintech MOU with Indonesia

The Monetary Authority of Singapore (MAS) and the Financial Services Authority of the Republic of Indonesia, or “Otoritas Jasa Keuangan” (OJK), have signed a memorandum of understanding (MOU) to boost Fintech cooperation and foster innovation in financial services between the two countries. The MOU is… Read More

Asian Fintech MC Payment Launches Instapay Services in Indonesia

Singapore-based fintech MC Payments announced on Thursday the soft launch of Instapay, a B2C payment platform targeting Indonesian Small-Medium Enterprises (SMEs) market. According to MC Payments, the payment platform enables merchants and their customers to simplify payment transactions, by using social messaging apps such as Whatsapp and Line to… Read More

Huobi Group Announces Expansion into Indonesia

Huobi Group, a digital asset marketplace, announced on Friday it is planning to expand into Indonesia with its exchange, which will list 123 tokens and incorporate a two-factor authentication (2FA) to secure each digital asset. According to Huobi, the Indonesian digital currency exchange will be built on Huobi Cloud platform and will cover… Read More

Chinese P2P Lender Hexindai Announces Equity Stake Acquisition in Indonesian Online Lending Platform Musketeer

Chinese peer-to-peer lending platform Hexindai (NASDAQ:HX) announced on Tuesday it has entered into definitive agreements to acquire a 20% equity stake in Musketeer Group Inc., an Indonesian online lending platform that offers consumption installment loans, for approximately $1.6 million, and simultaneously completed the acquisition.  As… Read More

Digital Payments & E-Commerce Platform KinerjaPay Announces Plans to Enter Microlending Business in Indonesia

KinerjaPay Corp., (OTCQB: KPAY), a digital payment and e-commerce platform, announced on Friday it is set to launch its own application for microlending business with peer-to-peer platform to facilitate credit facility. The company reported it will mainly target consumer sector to provide microlending facility in… Read More

P2P Platform Kapital Boost Partners with Genpro on Indonesian SMEs

Kapital Boost, a Sharia based peer to peer platform, and Global Entrepreneur Professional (or Genpro), have announced a new partnership to support the development of SMEs in Indonesia. The collaboration will see Kapital Boost providing funding to Genpro’s members who qualify and demonstrate strong growth… Read More

Not-For-Profit Barefoot Conservation Now Seeking Funds on Crowd2Fund to Reduce Plastic Waste in the Coral Triangle of Indonesia

Barefoot Conservation is now seeking a £106,500 revenue loan through Crowd2Fund to scale up their conservation and community projects in Indonesia. The not-for-profit and NGO reported that conservation efforts in the area are timely, with 1.4 billion tonnes of rubbish being dumped globally per annum…. Read More

Erajaya, ITOCHU, & PayJoy Announced Launch of Smartphone Financing in indonesia

 PT.Erajaya Swasembada Tbk, PT ITC Auto Multi Finance, a division of ITOCHU, and PayJoy announced on Thursday they have teamed to launch their smartphone financing in Indonesia. It was revealed that  ITOCHU will use PayJoy’s proprietary Checkout software platform to qualify and approve Indonesian customers for… Read More

Cryptocurrency Ban: Bank of Indonesia Halts All Usage of Digital Currencies Including Bitcoin

Bank Indonesia has issued a statement affirming that using Bitcoin, and any other cryptocurrency, is not allowed in Indonesia. Bank Indonesia has previously issued proclamations sharing their stance on digital currencies – most recently in December when the bank said usage would be banned in… Read More

Indonesia P2P Startup Modalku Milestone: Hits $74 Million in Total Crowdfunded MSME Loans

Modalku, an Indonesia-based peer-to-peer lending fintech startup, successfully surpassed $74 million (Rp 1 trillion) in total crowdfunded MSME loans. This news comes just a little over six months after the company announced it was fully registered with the Otoritas Jasa Keuangan (OJK). As previously reported, Modalku was… Read More

Amartha Powers Micro Peer to Peer Lending in Indonesia, Focuses on Women Entrepreneurs

The development of technology-based financial services or Fintech is a rapid, global, regional, and national movement. The Fintech industry has the opportunity to bring about change in the overall global financial industry everywhere. Indonesia, one of the most populous countries in the world, will benefit enormously by… Read More

FinTech Australia & FinTech Indonesia Sign MOU in Collaboration Push

FinTech Indonesia and FinTech Australia have signed a memorandum of understanding (MOU) in a move designed to propel the mutual development of Fintech in both jurisdictions. FinTech Australia is the leading voice of the emerging Fintech industry in Australia. The group is actively engaged with… Read More

Indonesian Digital Wallet Platform GO-JEK Acquires Three Fintech Startups

On Friday, Indonesia-based on-demand application service and digital wallet platform GO-JEK announced it has acquired three fintech startups. The three fintechs that GO-JEK acquired are Kartuku, offline payment service company; Midtrans, online payment gateway company; and Mapan, a goods sharing network. According to the company, the acquisitions… Read More

Bank Indonesia to Bar Fintech Companies From Using Digital Currency on Platforms in 2018

Bank Indonesia announced on Thursday it has issued new regulations that bar fintech companies from using cryptocurrencies on their platforms. This news comes less than two months after the bank announced it has drawn up rules to monitor fintechs in the country. “Financial Technology [Fintech] Providers… Read More

Australia & Indonesia Look to Partner Further on Fintech Initiatives

  FinTech Australia reports on a major Indonesian delegation, including 16 companies and the nation’s financial services regulators, that discussed topics such as financial innovation and how to foster a robust Fintech industry. FinTech Australia described the delegation as arguably the most significant group of Indonesian… Read More

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