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Indonesia

Fintech One-on-One Podcast
·Jun. 1, 2022

Podcast 367: Tessa Wijaya and Moses Lo of Xendit

The co-founders of Xendit, Moses Lo and Tessa Wijaya, discuss payments infrastructure in Southeast Asia, smartphone penetration and why the opportunity there is so big.

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News RoundupFintechAsia/Pac
·Aug. 24, 2017

Indonesian Fintech Startup Pundi-Pundi Raises $4mn

Indonesia-based mobile payments and micro-loan startup Pundi-Pundi raised $4 million in a pre-A round of funding; the company plans to use the funds for user and partner growth in Indonesia and expand into other Southeast Asian markets like Singapore; they have over 100,000 users and 500 merchants in Indonesia; Pundi-Pundi translates to "wallet" and they are looking to help create a cashless society in Southeast Asia. Source

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News RoundupAsia/PacOnline Lending
·Aug. 8, 2017

Indonesian Consumer Lending Startup UangTeman Raises $12mn

The Series A fundraising included both debt and equity capital; investment was led by K2 Venture Capital with participation from STI Financial Group and Silicon Valley venture capitalist Tim Draper who made his first investment in an Indonesian startup; firm will use the funds to expand its lending and build its technology with plans for adding new research and development centers for machine learning and algorithm design; platform provides short term micro-loans of between US$75 and US$350 for a maximum of 30 days. Source

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News RoundupFintechAsia/Pac
·Jan. 10, 2017

Online Payment Services Used for Funding Terrorism

According to the Wall Street Journal, PayPal and bitcoin have been used for funding Islamic terrorist attacks in Indonesia; the virtual payments were reported to be more difficult to track; the Indonesian Financial Transactions Report and Analysis Center says terrorism financing cases have increased in the country from 12 in 2015 to 25 in 2016.  Source

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RegulationNews RoundupFintechAsia/Pac
·Nov. 28, 2016

Bank Indonesia Opens Fintech Office

The central bank of Indonesia has opened a fintech office; the central bank will use the fintech office to maintain its regulatory oversight while also providing support for new fintech startups; it plans to collect information on the industry for regulatory development; it will also facilitate the development of fintech companies and their introduction to the economy both in Indonesia and globally.  Source

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News RoundupFintech
·Dec. 15, 2017

Go-Jek Acquires Fintech Startups

 Go-Jek is an Uber competitor and is now looking to lead in the payments sector in Indonesia; the company purchased offline payments service Kartuku, payment gateway Midtrans and a saving and lending firm called Mapan. Source

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News RoundupFintechAsia/Pac
·Aug. 18, 2017

Indonesian Fintech Startup Amartha Helps the Rural Unbanked

Amartha is an Indonesian fintech startup focused on using the peer-to-peer business model in rural areas of Indonesia; Amartha originally started as a microfinance institution in 2010, but that business model did not work; they moved to a peer-to-peer model where individual Indonesian investors fund the loans; they focus on small rural villages and to assess borrower risk they blend demographic profiling and psychometric tests to determine the probability of repayment; they currently have 5,000 investors and generate returns of about 15% to 17% structured as a profit-sharing scheme. Source

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News RoundupFintechAsia/Pac
·Feb. 16, 2017

Lenddo Partners with Experian

Singapore software-as-a-service company Lenddo has announced a new data partnership with Experian to support financial inclusion in Indonesia and Vietnam; the partnership will provide data analytics technology for Experian's Consumer Financial Inclusion Indexing platform; through the combined services of Lenddo and Experian, underserved banking consumers will gain access to financial services including remittances, savings, credit and wealth management services.  Source

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Online LendingRegulationNews RoundupAsia/Pac
·Jan. 5, 2017

Indonesia Issues Regulations for Alternative Lenders

Indonesia's Financial Services Authority has issued regulations for alternative lenders; the regulations are slightly less strict than expected; they require fintech companies to have capital of 1 billion rupiah ($74,239) when registering their business and capital of 2.5 billion rupiah ($187,210) when applying for a business license; the regulations do not set any limits on interest rates.  Source

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