Standard Chartered partners with Kredivo to provide loans to the mass market segment through digital channels

Released: Oct 26, 2021 at 9:00 PM EDT|Updated: 1 hour ago

JAKARTA, Indonesia and CHICAGO, Oct 26, 2021 / PRNewswire / – Standard Chartered Bank Indonesia (Bank) and Kredivo, one of Indonesia largest and fastest growing digital lending platforms, today announced a partnership to bring Buy Now, Pay Later (BNPL) loans to the mass market segment through digital channels. In line with the bank’s “Here for good” brand promise, the partnership promotes greater financial inclusion through convenient access to credit and supports the growth of e-commerce and offline retailers. This partnership also serves Kredivo’s mission to provide fast, affordable and easily accessible financial services to millions of consumers.

Kredivo x SC

Jeffrey Tan, Head of Consumer, Private and Business Banking (CPBB), Indonesia, Standard Chartered, said: “While Standard Chartered already has a strong position in the high-end retail segment, we are strengthening and expanding our distribution channels to serve mass-market customers more efficiently. We are therefore excited to partner with Kredivo, who shares our desire to increase financial strength . ” Recording in Indonesiato offer point-of-sale finance through digital platforms. “

Umang Rustagi, CEO, Kredivo Indonesia, said: “We are delighted and proud to be working with Standard Chartered, one of the oldest and most experienced banks in the world Indonesia. This collaboration shows how fintech and banks work together to achieve a harmonious goal of opening up the greatest possible access to credit. With Standard Chartered’s experience and Kredivo’s expertise, we hope that this collaboration can further promote equity and national economic growth. “

Customers can enjoy a fully digital onboarding and loan application process without personal verification, backed up by Kredivo’s extensive retailer coverage and AI-driven credit scoring capabilities, as well as Standard Chartered’s retail banking expertise as one of the oldest banks in Indonesia with more than 150 years of presence in Indonesia.

The partnership also relies on accelerated adoption of digital financial services in Indonesia. According to data from Indonesia Financial Services Authority (Otoritas Jasa Keuangan/ OJK), fintech lender assets grew by 3.25 trillion IDR in July 2020 to 4.34 trillion IDR in July 2021, while the outstanding credit channeling assets are from IDR 11.94 trillion to IDR 24.22 trillion In the same period. As vaccination and pandemic-related metrics continue to improve, market sentiment and retail sales are expected to pick up, resulting in higher demand for credit.

For more information please contact:

Artemis

Diana Mudadalam

(Consultan Komunikasi Kredivo)

Head of Corporate Affairs, Brand & Marketing,

Inmas Ayu (Nimas)

Indonesia & ASEAN Markets (AU, BN, PH)

[email protected]

Standard Chartered

(+62) 813 1915 5282

[email protected]

Kredivo Indonesia

Tubagus Aditya

[email protected]

Note to the editor

Kredivo
Kredivo is Indonesia Leading digital lending platform that provides instant loan funding to customers for e-commerce and offline purchases, as well as personal loans based on real-time decision-making. Kredivo users can buy now and pay later at one of the lowest interest rates among digital loan providers Indonesia. Kredivo’s trading partners benefit from instant point-of-sale financing supported by unique 2-click payments. Kredivo is operated by FinAccel, a financial technology company based in Singapore with a mission to provide fast, affordable and accessible financial services. FinAccel is backed by leading investors such as Mirae Asset, Naver, Square Peg Capital, Telkom Indonesia and Jungle Ventures. Kredivo is overseen by the OJK’s multifinance department Indonesia. To learn more about FinAccel and Kredivo, visit www.finaccel.co and www.kredivo.com.

Standard Chartered
We are a leading international banking group with presence in 60 of the world’s most dynamic markets and serve clients in another 85. Our goal is to promote trade and prosperity through our unique diversity, and our heritage and values ​​come in our brand promises, here for always.

Standard Chartered PLC is on the London and Hong Kong Stock Exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.

Standard Chartered Bank Indonesia is registered and regulated with the Indonesian Financial Services Authority (Otoritas Jasa Keuangan – OJK) and is also a member of the Indonesia Deposit Insurance Program Corporation (Lembaga Penjamin Simpanan – LPS).

Kredivo (PRNewsfoto / Kredivo)
Kredivo (PRNewsfoto / Kredivo)

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SOURCE Kredivo

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About Natalee Broderick

Natalee Broderick

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