Indonesian digital bank Superbank announced that it has reached 1 million users in less than two months since its public launch.

62% of Superbank’s customer base have linked their accounts to the Grab app since the feature became available in June.

This allows them to open accounts, save, and make payments directly within the Grab app without the need for an additional app.

Superbank offers products like flexible deposit accounts offering up to 7.5% interest per year and savings accounts with no administrative fees.

These features aim to help customers manage their finances effectively and achieve their financial goals.

Other features, such as automatic daily savings and financial management tools, have also been reportedly well-received.

Tigor M. Siahaan, President Director of Superbank, said,

“We are deeply grateful for the unwavering trust our customers have placed in us. In such a short period, your support has enabled us to reach 1 million customers. This achievement is just the beginning and serves as a strong foundation for us to continuously drive innovation and collaboration within our ecosystem, in order to deliver banking solutions that are easy, secure, and relevant to the financial needs of Indonesians. We look forward to introducing our next wave of product and service innovations”

In July 2024, Superbank secured additional funding of IDR 1.2 trillion (US$73.3 million) from its shareholders.

Emtek holds the largest stake in the bank at 34.58%, followed by Grab’s PT Kudo Teknologi Indonesia with 21.29%, Singtel Alpha Investments Pte Ltd with 18.93%, and KakaoBank with 10%.

Superbank was first established as Bank Fama in 1993. The bank was rebranded in February 2023 after its acquisition by the Emtek Group in 2021, with further investments from Singtel and Grab in January 2022.

Featured image credit: Edited from Freepik