Posts From Fintech News Indonesia
Silverlake Axis Partners Bank Mantap to Enhance Financial Inclusion in Indonesia
Silverlake Axis, a Singapore-mainboard listed fintech and digital banking solutions provider, has announced a strategic partnership with Indonesia’s Bank Mandiri Taspen (Bank Mantap). This collaboration is part of Silverlake Axis‘ expansion in Indonesia, highlighting its focus on the Indonesian market
Read More
KASIKORNBANK Increases Stake in Indonesia’s Bank Maspion to 84.55%
KASIKORNBANK Financial Conglomerate, through its subsidiaries, has increased its investment in PT Bank Maspion Indonesia Tbk, raising its ownership to 84.55% to be its largest shareholder. This is in line with KBank’s goal of becoming the largest bank in East
Read More
Citi Wraps Up Asian Consumer Banking Exit with Sale to UOB Indonesia
Citi has officially completed the transfer of its consumer banking operations in Indonesia to United Overseas Bank Indonesia (UOBI), in a move marking its ninth and final sale in its strategic refresh plan. This sale, which includes Citi’s retail banking,
Read More
OCBC Indonesia Inks Deal to Acquire PT Bank Commonwealth for US$144M
In a significant move to expand its presence in Indonesia, PT Bank OCBC NISP Tbk (OCBC Indonesia) has agreed to acquire a 99% stake in PT Bank Commonwealth (PTBC) from Commonwealth Bank of Australia (CBA). The deal is reportedly worth
Read More
CIMB and J Trust in Race to Buy Indonesia’s Bank Commonwealth
Malaysian bank CIMB and Japanese finance company J Trust are interested in buying Indonesian lender Bank Commonwealth, according to Reuters. Morgan Stanley is the financial advisor on the sale. The deal could value the lender at US$400 million to US$500
Read More
Generative AI Risks Require Guardrails, MAS Cybersecurity Panel Advises
The Monetary Authority of Singapore’s (MAS) Cyber Security Advisory Panel (CSAP) has raised awareness of the potential benefits and risks from the growing adoption of Generative AI (GenAI) by the financial sector. This is one of the key insights from
Read More
OJK Prohibits Akulaku from Offering BNPL Services
The Financial Services Authority (OJK) of Indonesia has imposed restrictions on Indonesian fintech Akulaku‘s buy now, pay later (BNPL) business. The restrictions are due to the company’s failure to carry out supervisory actions requested by the OJK, namely restrictions on
Read More
Funding Societies and STACS Bridge ESG Data Gap for Indonesian MSMEs
Southeast Asian SME digital finance platform Funding Societies, known as Modalku in Indonesia, has teamed up with ESG fintech firm STACS. Indonesian MSMEs will be introduced to STACS’ ESGpedia platform through Funding Societies for ESG reporting and sustainable financing solutions.
Read More
KakaoBank to Snap Up 10% Stake in Indonesia’s Superbank
KakaoBank, a South Korean digital-only bank, is set to acquire a 10% stake in Superbank, a new digital-focused bank in Indonesia formerly known as Bank Fama. Superbank is backed by a consortium comprising Grab, Singtel, and Emtek Group. It is
Read More
Indonesian Lender Investree Raises US$231 Million Series D
Investree, an Indonesian B2B marketplace lending platform for Micro, Small and Medium Enterprises (MSMEs), has raised US$231 million in a Series D funding round. The fundraise was led by Qatar’s JTA International Holding and joined by SBI Holding, bringing its
Read More