Tagged: indonesia

September 28, 2023 @ 8:32 am By Michael Wong  |  

Startups in Southeast Asia continue to struggle with funding as ecosystem funding falls to a five-year low for the third quarter of this year, according to a report released by SaaS-based market intelligence platform Tracxn. The report said the tech startup ecosystem in Southeast Asia… Read More

September 25, 2023 @ 10:59 pm By Michael Wong  |  

The Asian Development Bank (ADB) has approved a $500 million loan to bolster Indonesia’s 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

September 24, 2023 @ 4:11 pm By Michael Wong  |  

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

September 16, 2023 @ 10:18 am By Michael Wong  |  

The recently introduced ASEAN QR Code innovation promises to open up a broader market for micro, small, and medium enterprises (MSMEs) by facilitating seamless cross-border payments, Pandu Sjahrir, the legacy lead of ASEAN QR Code, told Indonesia’s news agency ANTARA. This integration offers a platform… Read More

September 11, 2023 @ 10:50 pm By Michael Wong  |  

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

August 30, 2023 @ 9:08 am By Omar Faridi  |  

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

August 29, 2023 @ 7:22 am By Omar Faridi  |  

Bank Indonesia, Bank Negara Malaysia, and the Bank of Thailand have reportedly concluded three bilateral Memorandum of Understanding (MoUs) on 25 August 2023. These MoUs are the Framework for Cooperation to Promote Bilateral Transactions in Local Currencies between the countries. The scope of the framework… Read More

August 28, 2023 @ 10:12 am By Omar Faridi  |  

The State Bank of Vietnam (SBV), the central bank of Viet Nam, has officially joined the Regional Payment Connectivity (RPC) initiative. This recent development is “an expansion of the Memorandum of Understanding on Cooperation in Regional Payment Connectivity (MOU RPC) that was initiated by the… Read More

August 6, 2023 @ 10:20 pm By JD Alois  |  

Fasset, a Fintech aiming to support financial inclusion, has launched a “Super App,” reportedly garnering over one million signs ups in the first week. Fasset is a digital asset firm that provides access to tokenized real world assets. The company said that sign ups came… Read More

June 10, 2023 @ 12:25 pm By Omar Faridi  |  

Maybank recently launched its cross-border QR payment service for Maybank customers travelling to Singapore, Indonesia, and Thailand as they can now make cashless and instant payment transactions via the MAE app. Similarly, incoming tourists from these countries “will also be able to make cashless payments… Read More

June 7, 2023 @ 12:01 pm By Omar Faridi  |  

Pepper Advantage, a global credit intelligence company, has obtained an AFPI fintech license to service the growing number of non-bank credit providers operating in Indonesia. With 112 fintech companies providing secured and unsecured credit products, non-bank lenders are “a significant factor in providing digital financial… Read More

March 23, 2023 @ 9:45 pm By JD Alois  |  

Kredivo Holdings, previously operating as FinAccel, has raised $270 million in Series D funding, according to a statement by the company. The funding was led by Mizuho Bank, Ltd., with the participation of Square Peg Capital, Jungle Ventures, Naver Financial Corporation, GMO Venture Partners, and Openspace… Read More

March 2, 2023 @ 10:55 pm By Omar Faridi  |  

Open finance platform Brankas has announced a new feature enabling instant bank account opening as an “embedded finance” experience on third-party applications. The API is the “first” of its kind in the region, “launched first in Indonesia and the Philippines.” As a bundle with Brankas’… Read More

January 17, 2023 @ 6:17 am By Omar Faridi  |  

Mindtera, an Employee Assistance Program (EAP) platform in Indonesia, announces the close of their combined seed and seed extension round at $850K funding “led by East Ventures and with commitments from Seedstars International Ventures among other prominent angel investors.” Founded in 2021 by Tita Ardiati… Read More

December 11, 2022 @ 10:15 pm By Omar Faridi  |  

BI-FAST, Indonesia’s domestic real-time payments scheme — provided by Bank Indonesia and powered by ACI Worldwide (NASDAQ: ACIW), a key player focused on mission-critical, real-time payments software — has announced plans “to launch a wide range of new real-time payment services as the scheme celebrates… Read More

December 7, 2022 @ 10:38 pm By Omar Faridi  |  

BDx Indonesia, a joint venture company of Big Data Exchange (BDx), PT Indosat Tbk (Indosat Ooredoo Hutchison or IOH), and PT Aplikanusa Lintasarta, and the largest wholesale data center and cloud-focused operations creating digital infrastructure in the Indonesian market, is pleased “to announce the appointment… Read More

December 5, 2022 @ 11:15 pm By Omar Faridi  |  

2C2P, a global payments platform and merchant commerce omnichannel platform Pine Labs have partnered to expand Buy Now Pay Later (BNPL) “across Asia in six key markets, namely Singapore, Malaysia, Hong Kong, Indonesia, the Philippines and Thailand.” Unlike other BNPL offerings, Pine Labs claims that… Read More

November 19, 2022 @ 9:39 pm By Omar Faridi  |  

Bank Indonesia (BI), Bank Negara Malaysia (BNM), Bangko Sentral ng Pilipinas (BSP), Monetary Authority of Singapore (MAS), and Bank of Thailand (BOT) have agreed “to strengthen and enhance cooperation on payment connectivity to support faster, cheaper, more transparent, and more inclusive cross-border payments.” A Memorandum… Read More

November 17, 2022 @ 3:53 pm By JD Alois  |  

Fintech specialists, QED Investors, has backed its first company in Indonesia, a Proptech firm Pashouses. The VC firms led the $5 million pre-Series B round. Pashouses is an end-to-end transactional marketplace for buying and selling houses in Jakarta, from brokerage and renovation to staging and… Read More

November 15, 2022 @ 10:07 pm By Omar Faridi  |  

KKR, a global investment firm, and Privy, a digital trust provider in Indonesia, announced the signing of definitive agreements under which KKR “will participate as the lead investor in the $48 million Series C funding round of Privy, with participation from existing investors MDI Ventures,… Read More