Indonesia

State of Open Banking 2021: Indonesia

In this current era of digitalization and personalization, the concept of Open Banking has been rapidly disclosed among experts, and perhaps consumers. The term itself refers to a business model where data can be exchanged in order to be used

Read More

Atome Financial Acquires Indonesian Financing Firm

Atome Financial, the parent company of Buy Now, Pay Later (BNPL) firm Atome, has completed its acquisition of local financing company PT Mega Finadana Finance in Indonesia. Details of the acquisition was not disclosed. The acquisition will allow Atome Financial

Read More

Validus’ Indonesian Arm Batumbu Granted Digital Lending License From OJK

Validus’ Indonesian subsidary Batumbu has received regulatory approval to operate as a licensed digital financing platform from the Indonesian Financial Services Authority (OJK). Since the launch of its operations in 2019, Batumbu said that it has disbursed over S$207 million

Read More

Indonesian E-Wallet Linkaja Selects Arttha Payments to Modernise Its Core System

Indonesian e-wallet LinkAja has selected Indian software company PureSoftware’s Arttha Digital Payments suite to power its core systems. The move is said to be in line with LinkAja’s aim to expand and strengthen its position as a payment services provider

Read More

PAYFAZZ Invests US$30 Million in Xfers to Form New Entity Fazz Financial Group

Indonesian fintech startup PAYFAZZ announced that it has invested US$30 million in Xfers, Singapore-headquartered counterpart to form a new financial entity called Fazz Financial Group (FFG). PAYFAZZ said that both companies will retain their respective names whilst operating under the

Read More

OVO’s CEO Provides an Insiders’ Look into Indonesia’s Thriving Fintech Scene

Indonesia is considered the crown jewel for many fintechs looking to expand to the ASEAN market. Over the past 15 years, Indonesia has made remarkable progress in reducing poverty which is now below 10%, according to the World Bank. During

Read More

Indonesian E-Wallet OVO Rolls Out in-App Investment Product

Indonesian e-wallet unicorn OVO has tied up with Manulife Aset Manajemen Indonesia (MAMI) and its strategic partner Bareksa to roll out an instant redemption mutual fund. OVO claims that this offering is the first of its kind in Indonesia. The

Read More

Investors Bullish on Indonesia’s Fintech Sector

Fintech continued to lead Indonesia’s startup funding landscape in 2020, making up for most of the money raised that year, ahead of software-as-a-service (SaaS) and e-commerce. 2020 marked the fourth year where fintech dominated the amount of funding in the

Read More

Standard Chartered Partners Bukalapak to Launch Digital Banking Offerings

Standard Chartered has formed a strategic partnership with Bukalapak to launch digital banking offerings which will be hosted on the nexus platform which is a banking-as-a-service solution by SC Ventures. Through this partnership, Standard Chartered and Bukalapak aims to bring

Read More

Indonesian Fintech BukuKas Raises US$ 10M in Sequoia Capital India Led Round

BukuKas, a digital platform and app for digitising SMEs in Indonesia, has raised USD 10 million during its Series A funding round led by Sequoia Capital India, bringing the total funds raised to USD 22 million. Existing investors Saison Capital,

Read More