Indonesia

Approximately 2.5 billion people globally lack access to financial services and are forced to rely on inconvenient and often risky means to manage their money. These people are classified as ‘unbanked’. There is a high concentration of unbanked citizens in developing economies across South East Asia, Africa and Latin America. Let’s focus on Indonesia.

The bank will be integrated with a pawnshop chain and a micro-business money firm.

Refinitiv Auctions facilitated over $1.23t in 2019.

Economic inclusion can seem like a faraway goal for many, if not most, countries around the world. Achieving it would mean being able to lift people out of poverty, create equality between genders and socio-economic backgrounds, and build socially inclusive futures for our children.

They will likely shift to higher cost funding in anticipation of loan demand growth.

It has surpassed credit card payments in 2019.

Indonesia Mall brings MSMEs online and introduces them to a larger market.

It has earmarked more than $143m for digital lending via the platform.

Loans can be between $35 to $1,417.

As digital banking proliferates through the developed world, its adoption in emerging markets in Southeast Asia continues to lag. A McKinsey study in 2018 noted that whilst digital banking penetration has grown by as much as 300%in certain emerging Asian countries, the median level is only around 52%.

Robust profitability and high capital retention keeps the sector well-capitalised.

Its acquisition of fintech startup Moka will improve monetisation or merchants in GoPay.

The minimum capital requirement may force them to consolidate or even cease operations altogether.

This allows the platform to buy and sell assets such as Bitcoin and Ethereum.

The central bank kept its benchmark rate at 5% on the back of lower inflation.

Bank Permata’s owners are seeking a valuation 1.6x of its book value.