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JULO Projects US$650 Million in Loans, Pursues Neobank Ambitions
Indonesian fintech company JULO reported that it is on track to disburse over US$650 million in loans by the end of 2024, while also setting its sights on becoming a neobank. From January to April this...
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Indonesian Digibank Jenius to Offer Gamified Banking
PT Bank BTPN’s flagship digital bank, Jenius, has teamed up with Perx Technologies, a SaaS lifestyle marketing platform provider, to enhance its customer engagement strategy. By integrating the Perx...
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Amartha Nets US$17.5M Funding from Accion to Empower Women-Led MSMEs
Indonesian microfinance fintech company Amartha has secured a US$17.5 million equity funding from the Accion Digital Transformation Fund. This investment from global nonprofit Accion aims to help...
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Indonesia’s Digital Bank Superbank Now Available on Grab
Indonesian digital bank Superbank has officially launched its services on the Grab superapp, enabling users and partners to open bank accounts and utilize them directly for Grab services without...
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Bank Negara Indonesia Enhances Offerings with Cloudera’s Generative AI
Bank Negara Indonesia (BNI), an Indonesian state-owned commercial bank, has partnered with Cloudera to leverage generative artificial intelligence (Gen AI) for advancing its banking services. This move...
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The Hidden Catalyst to Scaling an e-Wallet that Serves 200 Million Users in...
DANA stands at the forefront of the rapidly evolving digital landscape of Indonesia, revolutionising the way people conduct financial transactions. Founded in 2018, DANA has swiftly become one of the...
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Validus Secures US$17.57M Debt Financing from Oikocredit and FMO
Validus Group, a digital SME financing platform based in Singapore, has secured a total of US$17.57 million in debt financing from both Oikocredit and FMO to support small and medium-sized enterprises...
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Superbank Bags Additional US$73M Funding from Grab, Singtel, KakaoBank
Indonesian digital bank Superbank has announced an additional funding of IDR 1.2 trillion (US$73.3 million) from its shareholders, Grab, Singtel, and KakaoBank. This funding aims to support Superbank’s...
View ArticleIndonesia, South Korea Central Banks Ink Cross-Border Payments MOU
Bank Indonesia (BI) and the Bank of Korea (BoK) have signed a memorandum of understanding (MOU) on cross-border payments. This MOU follows the 2022 bilateral cooperation agreement on central banking...
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GIC Explores Potential Sale of Minority Stake in Bukalapak
Singapore’s sovereign wealth fund, GIC, is considering selling its minority stake in Bukalapak, an Indonesian e-commerce platform, sources told DealStreetAsia. Discussions are in the preliminary...
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GoTo Appoints Simon Ho as New CFO
PT GoTo Gojek Tokopedia Tbk has announced the appointment of Simon Ho as its new Chief Financial Officer (CFO), effective 30th August. Following shareholder approval at the upcoming Extraordinary...
View ArticleOJK Plans to Raise P2P Funding Limit for Business Loans
Indonesia’s Financial Services Authority (OJK) plans to raise the maximum limit for peer-to-peer (P2P) funding above the current IDR 2 billion cap, specifically for productive funding used for business...
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Tencent-Backed Indonesian Fintech Flip Names Pratyush Prasanna Group CEO
Indonesian fintech company Flip has named Pratyush Prasanna as its new Group CEO. Prasanna, who joined Flip last year as Managing Director, will now steer the company through its next phase of growth...
View ArticleIFC Explores US$150 Million Loan for KB Kookmin’s Indonesia, Thailand Arm
The International Finance Corporation (IFC), a member of the World Bank Group, is evaluating a US$150 million loan package for KB Finansia Multi Finance (FMF) in Indonesia and KB J Capital (KBJ) in...
View ArticleIndonesia’s Bank Commonwealth to Face Mass Layoffs Following OCBC Takeover
Indonesia’s Bank Commonwealth will lay off 1,146 employees following its acquisition by Singapore’s OCBC, a deal finalised two months ago for S$182 million, according to The Business Times. The...
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GoTo Expands TikTok Partnership with ‘Buy Now, Pay Later’ Service
Indonesian tech company GoTo Group has expanded its partnership with TikTok by introducing a “Buy Now, Pay Later” (BNPL) service, GoPay Later, on TikTok’s ShopTokopedia platform. This follows TikTok’s...
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OJK Lays Out 2024-2028 Roadmap for Digital Finance, Crypto Assets
Indonesia’s Financial Services Authority (OJK) has introduced a new roadmap for the development and strengthening of financial sector technology innovation, digital financial assets, and crypto assets...
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Antler Secures US$72 Million for Second Southeast Asia Fund
Antler, a global early-stage venture capital firm with a presence in over 30 cities, has announced the close of its second Southeast Asia fund, Antler SEA Fund II, at US$72 million. Three times the...
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Indonesia’s Superbank Hits 1 Million Users, Fueled by Grab Integration
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...
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OJK Introduces Framework to Strengthen Banking Sector’s Digital Resilience
Indonesia’s Financial Services Authority (OJK) has introduced a Digital Resilience Guide aimed at bolstering the resilience of Indonesia’s banking industry in the digital age. This initiative is part...
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