KakaoBank buys 10% in Superbank, enters partnership to boost digital banking in Indonesia

Superbank is planning to publicise its mobile app later in the year.

South Korea's digital-only bank, KakaoBank, has acquired a 10% stake in Superbank by issuing new shares. Superbank, a digital-focused bank in Indonesia, is supported by a consortium that includes Grab, Singtel, and Emtek Group.

Superbank is also set to launch its app to the public later this year.

“This partnership is also a realization of our long-term commitment to creating synergy between KakaoBank's mobile financial technology and Grab's successful Southeast Asian business. Ultimately, we would like to establish a global digital bank network through our technology and service partnership.” Ho Young Yu, Chief Executive Officer of KakaoBank said.

ALSO READ: KakaoBank modernises data management system

Through this partnership, KakaoBank will contribute to the development of Superbank's products and services.

The digital bank said this initiative aims to deepen its understanding of the Southeast Asian market and its customers, enhance global competitiveness, and advance digital finance in the region.

Follow the link for more news on

Kakao Bank

Also Read

167 financial services firms adopt AI initiatives: report

Japanese banks seek M&As overseas

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit