Indonesia
3 Southeast Asian Startups Make World’s Top 100 Fintech Firms List
Three fintech startups from Southeast Asia have been named among the world’s largest and most successful financial technology companies, recognized for their scale, growth and ingenuity. The Financial Technology Report has released its selection of the world’s Top 100 Financial
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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
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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
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GoTo and Bank Jago Roll Out New Bank Account Offering in Indonesia
Indonesia’s GoTo Financial and Bank Jago, a Gojek-backed digital bank, have launched a new bank account offering that can be accessed directly through the GoPay and Gojek apps. Touted to be first of its kind in Indonesia, ‘GoPay Tabungan by
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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.
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Indonesia’s LUNA Secures Funding to Expand Its Reach
LUNA, an Indonesian embedded fintech and vertical SaaS platform for retailers and MSMEs, has raised funding from TNB Aura, Seedstars, 1982 Ventures, Century Oak Capital, and Prasetia Dwidharma. The sum was not disclosed. With this round of financing, LUNA plans
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Harnessing Responsible AI in the Financial Sector
Artificial Intelligence (AI) has become integral to our daily lives, driving technological advancements and enhancing various industries, including finance. However, the increasing use of AI also raises concerns about responsible and ethical practices. It is essential to ensure that AI
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7 Hot Fintech Startups in Indonesia to Watch
Indonesia’s fintech sector has evolved tremendously over the past decade, witnessing a sixfold increase in its number players from a mere 51 active fintech companies in 2011 to 334 in 2022, data from the Boston Consulting Group and AC Ventures
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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
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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
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