GoTo Group, Indonesia’s largest digital ecosystem, has completed the migration of its digital finance arm GoTo Financial’s infrastructure to Alibaba Cloud’s local data centers in Jakarta. The move marks a critical milestone in a strategic partnership formed in 2024 and is one of the most… Read More
Read more in: Asia, Fintech | Tagged alibaba, cloud, Goto, indonesia
Google Cloud has unveiled a comprehensive suite of artificial intelligence (AI) initiatives aimed at accelerating Indonesia’s digital economy in support of the government’s Indonesia Emas 2045 vision. The move comes alongside the expansion of Google Cloud’s Jakarta region infrastructure to meet rising demand for enterprise-grade… Read More
Read more in: Artificial Intelligence, Asia | Tagged google cloud, indonesia
Development finance institutions Swedfund, Finnfund, and the Belgian Investment Company for Developing Countries (BIO) have jointly committed $55 million in loans to Indonesian microfinance platform Amartha, the groups said in a joint statement. The financing is part of a broader syndicated facility of up to… Read More
Read more in: Fintech, Asia, Global | Tagged amartha, Finnfund, indonesia, Swedfund
Indonesia’s antitrust regulator has launched preliminary tribunal proceedings against 97 online lending startups over suspected cartel practices involving daily interest rate caps, Indonesian news site Katadata reported. The Indonesia Competition Commission (KPPU) said the investigation revealed indications of a coordinated agreement among peer-to-peer (P2P) lenders… Read More
Read more in: Asia, Fintech | Tagged digital lending, indonesia, online lending
Skor Technologies, the Indonesian parent company of credit-education platform Skorlife and the Skorcard digital-first credit card, has raised $6.2 million in a pre Series-A funding round led by Southeast Asia-focused Argor Capital. The round also saw participation from existing backers QED Investors and Saison Capital,… Read More
Read more in: Fintech, Asia | Tagged digital lending, indonesia, Online Credit, Skor Technologies, Skorcard, Skorlife
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 Creador’s focus on Southeast Asia’s rapidly recovering travel sector, driven by… Read More
Read more in: Asia | Tagged Creador, indonesia, malaysia, MG Group
Indonesia-based real estate marketplace Lamudi, a subsidiary of Australia’s 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 Lamudi’s platform, offering a more comprehensive solution for property buyers… Read More
Read more in: Fintech, Asia | Tagged acquisition, ideal, indonesia, Lamudi, mortgages
Indonesia’s Financial Services Authority (OJK) has officially revoked the business license of peer-to-peer (P2P) lending platform PT Investree Radhika Jaya (Investree), citing the company’s failure to comply with minimum equity requirements and other regulatory standards. The decision marks a significant crackdown by OJK on financial… Read More
Read more in: Investment Platforms and Marketplaces, Asia | Tagged indonesia, investree, p2p lending
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… Read More
Read more in: Fintech, Asia | Tagged indonesia, nium, payments
Indonesian donation and crowdfunding platform Kitabisa has officially entered the country’s insurance sector by launching Kitabisa Insurance, a sharia-compliant subsidiary, marking a significant step in addressing Indonesia’s notably low insurance penetration rate, according to DealStreetAsia. The announcement follows the subsidiary’s introduction of its first product,… Read More
Read more in: Fintech, Asia, Investment Platforms and Marketplaces | Tagged asia, crowdfunding, indonesia, insurance, insurtech, Kitabisa
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
Read more in: Blockchain & Digital Assets, Global | Tagged indonesia, research, rwas, türkiye
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 Indonesians’ understanding of crypto assets and blockchain technology. This initiative will be executed… Read More
Read more in: Asia, Blockchain & Digital Assets | Tagged crypto, digital assets, indonesia, reku, tether
Validus is reporting new capital from HSBC in the amount of USD $50 million. The funds will be utilized to provide online lending for micro, small, and medium enterprises (MSMEs) in Indonesia. Validus, based in Singapore, will release the funds via its subsidiary Batumbu, which… Read More
Read more in: Asia, Fintech | Tagged hsbc, indonesia, singapore, validus
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
Read more in: Asia, Fintech | Tagged central banks, cross-border payments, indonesia, uae
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
Read more in: General News, Asia | Tagged indonesia, Online Gambling, payments
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
Read more in: Insurtech, Asia, Global | Tagged bolttech, hava.id, indonesia, insurtech
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
Read more in: Fintech, Asia | Tagged Bank Danamon, Danamon, digital lending, fintech, helicap, indonesia, singapore
Komunal, a Jakarta-based Fintech 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, Sovereign’s Capital, Ozora,… Read More
Read more in: Fintech, Asia | Tagged banking, digital banking, indonesia, Komunal
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
Read more in: Fintech, Asia, Global | Tagged batara sianturi, citi, consumer businesses, financial services, indonesia, southeast asia, titi cole, uob, uob indonesia
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
Read more in: Fintech, Artificial Intelligence, Asia | Tagged ai, central bank, fintech, Hasan Fawzi, indonesia, Mahendra Siregar, ojk, regulations
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