Vithrya Kuntoro

As one of the leading and fastest-growing BNPL players, Kredivo launched the 2024 Indonesian PayLater User Behavior Report in partnership with Katadata Insight Center (25/6). The fifth edition of the annual report shifted focus from e-commerce to in-depth developments of BNPL in Indonesia, analyzing consumer behaviors, shopping patterns and preferences in both online and offline transactions, as well as its contribution in accelerating financial inclusion. With a bottom-up approach using primary data, this report also explores the latest insights into the BNPL landscape, highlighting its potential and emerging trends. #gokredivo Download the full report here: https://kredivocorp.com/ (EN version starts from p.64) Read the news here: (ID) https://lnkd.in/gwdm92Wf 

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Brankas Is First Company in Indonesia To Be Awarded Open Banking Data License. Brankas announced that it is the first company in Indonesia to be licensed for Account Information Services (AInS) after the company secured the Payment Service Provider (PJP) Category 2 license by Bank Indonesia (BI). Customers can now use Brankas to securely share their bank account balance during payments, allowing for real-time payment verification and automated prompts for insufficient funds. Under the PJP Category 2, Brankas also obtained the license for Payment Initiation and/or Acquiring Services (PIAS). BI has approved the official use of Brankas Direct API as an integrated pay-by-bank solution with account balance visibility. Now, Brankas Direct is one of the only pay-by-bank solutions that offers real-time settlement, meaning money is moved instantly without the risks of fraud and lost funds associated with traditional escrow methods. Source: https://lnkd.in/eafTHVUb Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #fintech #payments #paymentprovider #openbanking #bankingtechnology #financialtechnology #financialservices #fintechnews

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Plans for Indonesia's GoTo Group's annual and extraordinary general meetings of shareholders include top management changes. Co-founder William Tanuwijaya and director Melissa Siska Juminto left GoTo's board. Former Gojek co-CEO Andre Soelistyo will leave the board “to pursue other interests.” How involved Soelistyo will be in GoTo's operations is unknown. The company will also allow CEO Patrick Walujo to own series B shares without diluting current shareholders since no additional shares will be issued. It is believed that Indonesian #Stock Exchange president commissioner John Prasetio will become an independent GoTo commissioner. Robert Holmes Swan, appointed in 2021, will be succeeded. The company will also detail its US$200 million share #buyback programme from earlier this year. The company's leadership will review and perhaps revise the scheme, GoTo stated. “Cash flow is improving, and as our stock has significant value, we believe a buyback is prudent to ensure we are using our resources #efficiently,” added Walujo. GoTo reported a US$6.2 million adjusted loss in the first quarter of 2024 despite an 89% increase in adjusted EBITDA. To share your startup story write us on - contact@startuprise.org #GoTo #Stock #Shareholders #Management #EBITDA #Resources

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Islamic Banking in Indonesia: The Trust Paradox That's Holding Back a Billion-Dollar Industry Imagine a country with the world's largest Muslim population, where 65% of Millennial and Gen Z consumers are already using Islamic banking. That's Indonesia, and it's a market ripe for disruption. But there's a catch – a staggering 43% of Indonesians don't trust that banks can be fully Shariah-compliant. It's a trust paradox that's holding back a billion-dollar industry. Despite this, Indonesian consumers are highly aware of Islamic banking products, with 74% familiar with profit-and-loss sharing partnerships. And across Southeast Asia, Millennial and Gen Z Muslims are demanding digital accessibility and ethical investing. In fact, 80% say that the availability of online or mobile Islamic banking is a dealbreaker. Islamic finance is poised to gain global traction, driven by its alignment with responsible investing and digital accessibility. But first, banks in Indonesia must overcome the trust hurdle and prove their Shariah compliance. P.S. How can Islamic banks in Indonesia build trust with Millennial and Gen Z consumers? Share your thoughts in the comments! #IslamicBanking #Indonesia #TrustParadox #MillennialMuslims #GenZMuslims #DigitalBanking #EthicalInvesting #SoutheastAsia #ResponsibleInvesting #ShariahCompliance

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IFRS-17, better known as PSAK-117 in Indonesia, is currently one of the hottest items in the insurance business, because it changes most, if not all, of the measurements and financial reporting for insurance contracts. Indonesia’s Financial Regulator (OJK) has mandated that all of the insurance businesses in Indonesia need to implement PSAK-117 by January 2025. With many insurance companies now preparing both their framework and system to implement PSAK-117, KPMG would like to share the challenges we experienced with PSAK-117 implementation from a data, systems, and methodological perspective.   Read more: https://lnkd.in/djmrDQKh #KPMGIndonesia #ifrs17 #psak117   Denny Hanafy, CFA, FRM, CIA, MAcc, Susanto Yeo, Hengcky Hiwarno, Susiyani Setiowaty, Agus Setiawan, Kusumaningsih Angkawidjaja, Sutedjo S, Wan Yie L., Handrow Cahyadi, Dr. Irwan Djaja, Phd, Budi Susanto

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The Indonesian credit card market is experiencing a significant boom, presenting exciting opportunities for growth. With credit card transactions reaching Rp 323.6 trillion in 2022 and a robust post-pandemic recovery, the potential is enormous. Despite the rise of BNPL offerings, credit cards offer distinct advantages like higher credit limits and extensive rewards. The government's push for a domestic credit card network and significant foreign investments underscore the market's future potential. Dive into our latest article to explore how AI analytics, government initiatives, and technological advancements are shaping Indonesia's credit card landscape. Read more: https://lnkd.in/gsN_MbkT #creditcards #indonesia #financialinclusion #AIanalytics

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Adopting digital technology is a big step that changes how we handle expenses, cutting costs by up to 30% and making things 90% more accurate. This digital change is the key to a better, more competitive future in the digital age. Check out this article and discover how digital transformation can help you save up to 30% on operational costs! https://lnkd.in/gd-tTa_9 #DigitalTransformation #BusinessSolution #ExpenseManagement #Digital #BusinessFinance #FinancialAutomation #Ximply

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Today, TexpertPro was honored to be invited by Rumah BUMN PT Bank Rakyat Indonesia (Persero) Tbk , a forum dedicated to fostering collaborative steps among BUMN (State-Owned Enterprises) in shaping a Digital Economy Ecosystem. Our mission is to enhance the development of fashion MSMEs by providing comprehensive coaching and training. Stay tuned for exciting updates as we join hands with Rumah BUMN to empower Fashion SMEs and boost their capacity and capability! #TexpertPro #RumahBUMN #SMEDevelopment #DigitalEconomy #FashionMSMEs"

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We're delighted to share that Sekura.id has been featured once again in About Fraud’s latest infographic, showcasing the leading fraud prevention companies of the year. About-Fraud, a renowned hub for fraud prevention resources, has curated this infographic to highlight the best in the industry. It’s an honour to be included among such distinguished companies, each making significant strides in safeguarding businesses and individuals from fraudulent activities. The infographic not only maps out the top players in the field but also provides valuable insights into the latest trends and technologies shaping the future of fraud prevention. As fraud becomes increasingly sophisticated, robust and adaptive solutions are needed and we're pleased that our innovative contribution is recognised. Here's the PDF, and here's to making a safer, more secure digital world. #FraudPrevention #CyberSecurity #FinTech #DigitalTransformation #RiskManagement #Innovation #BusinessGrowth #Security #Technology #DataProtection

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🔎 #MICRAFinLit: Learn More about “Pay Later” for Gen Z to Become More Financially Literate The “pay later” method makes shopping easier, but do you know the risks? Data shows that the use of pay later in Indonesia will increase by 33% by 2023. Despite its practicality, many users end up facing financial stress due to mounting debt. 😱💳 Don't let temporary convenience ruin your long-term financial stability. Stay wise and take control of your finances! 💪💼 #PayLaterRisks #FinancialHealth #StayInControl #SmartSpending #MICRA #FinancialLiteracy #FinancialEducation #Microfinance #FinancialInclusion #UNSDGs #financialliteracy #financialinclusion #Microfinance #GenerationZ #GenZ #youthfinancialliteracy

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Simplify your path to a new home with Livin' KPR.... 🏡 Quick, easy, and entirely digital KPR applications at your fingertips...! Start your journey today! #livinathome

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You do not need to wait to be a big company to go public (IPO) in Indonesia. IPO process now has different levels and is getting easier and simpler, and the good news is that, IDX (Indonesia’s Stock Exchange) and Hong Kong Stock Exchange can cross-list their companies. Recognized Stock Exchange status allows companies listed on the Indonesia Stock Exchange (IDX), to apply for a secondary listing in Hong Kong. The Indonesian IPO market is primarily regulated by Law No. 8 of 1995 on the Capital Market as amended by Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (the Capital Market Law), the rules of the Indonesian Financial Services Authority (OJK) and IDX Rule No. I-A on Listing of Shares and Equity-Type Securities other than Shares Issued by Listed Companies, as attached to the Decree of the Board of Directors of the IDX No. KEP-00101/BEI/12-2021 (the IDX Listing Rule). Only Indonesian companies (PT) that are established and exist under the laws of Indonesia may list shares on the IDX. Several kinds of securities may be listed on the IDX, such as shares and bonds. This description focuses on the listing of shares. Currently, there are four boards on the IDX where issuers may list their shares: the Main Board, which is generally used for listings by companies that meet the core business activities, financial, net tangible asset, shareholder and profit standards required for listing on the Main Board of the IDX; the Development Board, which is generally used for listings by companies that cannot meet the core business activities, financial, net tangible asset, shareholder and profit standards required for the Main Board; the Acceleration Board (only small and medium-sized enterprises (SMEs) are eligible to be listed on this board), which is aimed at listings by SMEs that cannot meet the requirements for listing on the Development Board or Main Board; and the New Economy Board, which is used for listings by companies that utilise technology to create innovative products or services and fits the listing criteria on the Main Board. This recognition and cross border listing agreement between HKEX and IDX will increase the number of companies between China and Indonesia to build cooperation and do cross border transactions and investments. My business trip to Hong Kong and mainland China is for a trade mission that is aimed at strengthening the business tie and trade relationship between the private sector and also State Owned Enterprises (SOE). China buys from us a lot of energy commodities, such as coal and nickel, and Indonesia needs newly developed technology from China to be applied in its growing manufacturing and industries. With technology from China, Indonesia’s manufacturing can scale up production and make it more efficient, while also having the opportunity to be the next leading economy in Asia, and the main destination of investment in the region. 

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insightfully discussion with Abdul Hamid Farid & Roy Nicholas Mandey about retail business and the role of payment systems in transactions as well as the implementation of technology to support the use of data in the retail industry in Indonesia to give the best benefit for consumers . Hopefully in a short time there will be mutually supportive collaboration.

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Cultivate The Creator Entrepreneurial Mindset ! Forming the third business insight of How To Thrive In Indonesia. Dr Soebowo Musa head of the MBA program at Swiss German University - the first International university in Indonesia was a recent… featured guest I interviewed on a SpeakuP Monday - Destination Indonesia weekly talkShow episode (link in comments) where he spoke about Indonesia, 🇮🇩 being a largely consumption based / trading economy 🇮🇩 employing convergent as opposed to divergent thinking Why Is This Important? Divergent thinking, in the context of our conversation, was about investigating how a product or service is made breaking it down to its constituent elements with the view to emulating it. If Indonesia can start to employ more of a creator or manufacturing based mindset it could further enhance and realise its economic potential, for instance; 🇺🇸 USA has Apple 🇨🇳 China has Huwawei 🇰🇷 Korea has Samsung Which are sold and exported to the world creating financial capital in addition to the multiplier effect of creating jobs and prosperity. Quick Success Story One of my good friends (expat husband and Indonesian wife) also they are clients/partners in several initiatives we have together, started off formulating natural products to push back against the negative impacts of chemicals on the environment; from household cleaning products to kombucha over a number of years. They saw a gap in the market and formed the first natural pet care products manufacturer in Indonesia and have started to sell those products overseas whilst employing an all Indonesian team 👏🏾👏🏾👏🏾 We are a business management consultancy and we also love supporting innovation and nurturing the creator mindset in Indonesia. If we can be of support to you sending a DM would be the next step. #indonesia #creatoreconomy #businessconsultant

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In Indonesia, 𝙢𝙞𝙘𝙧𝙤𝙛𝙞𝙣𝙖𝙣𝙘𝙞𝙣𝙜 and 𝙢𝙞𝙘𝙧𝙤𝙡𝙚𝙣𝙙𝙞𝙣𝙜 play crucial roles in empowering 𝙨𝙢𝙖𝙡𝙡 𝙚𝙣𝙩𝙧𝙚𝙥𝙧𝙚𝙣𝙚𝙪𝙧𝙨, especially in 𝙧𝙪𝙧𝙖𝙡 areas where access to traditional banking services is limited. Startups like 𝗔𝗺𝗮𝗿𝘁𝗵𝗮 exemplify this trend by offering microfinancing solutions tailored to the needs of rural entrepreneurs, with a focus on women who often face additional barriers to accessing financial services. These platforms typically employ group lending models, where individuals within a community form groups to collectively borrow and repay loans. This approach not only helps to spread risk but also fosters a sense of community support and accountability among borrowers. In Indonesia's diverse and geographically dispersed rural communities, this communal approach is particularly effective in reaching and supporting underserved entrepreneurs. Moreover, fintech companies in Indonesia have been 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗻𝗴 with 𝗰𝗼𝗹𝗹𝗮𝘁𝗲𝗿𝗮𝗹 𝗺𝗼𝗱𝗲𝗹𝘀 to make credit more accessible to those who lack conventional assets. For instance, some companies accept livestock or crops as collateral, leveraging the value of agricultural assets that are common in rural areas. This innovative approach not only expands the pool of eligible borrowers but also aligns with the economic activities prevalent in many rural communities. Furthermore, the 𝘂𝘀𝗲 𝗼𝗳 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝘁𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 has been instrumental in 𝘀𝗰𝗮𝗹𝗶𝗻𝗴 𝘂𝗽 microfinancing efforts across Indonesia. Mobile payment platforms and digital banking services have facilitated faster and more efficient loan disbursement and repayment processes, reducing administrative overhead and operational costs for lenders. This digitization of microfinancing services has the potential to reach even more underserved entrepreneurs in remote areas, driving economic growth and financial inclusion throughout the country. Overall, microfinancing and microlending initiatives in Indonesia are not only providing vital financial support to small entrepreneurs but also fostering 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 and 𝗲𝗺𝗽𝗼𝘄𝗲𝗿𝗺𝗲𝗻𝘁, particularly among 𝘄𝗼𝗺𝗲𝗻 and 𝗿𝘂𝗿𝗮𝗹 communities. #FinancialInclusion #EmpowerWomen #CommunityLending #InnovativeCollateral #FintechIndonesia #DigitalFinance #RuralEntrepreneurship

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🚀 Introducing ZERRA.id: Your Solution for Invoice & Debt Management! 🚀 Managing invoices and debts can be challenging, but with ZERRA.id, it's never been easier. Our innovative platform is designed to streamline and simplify your financial operations, giving you more time to focus on what truly matters – growing your business. 🔍 What We Offer: Automated Invoicing: Create, send, and track invoices effortlessly. Debt Management: Monitor and manage outstanding debts with ease. Real-Time Analytics: Gain insights into your financial health with our powerful analytics tools. Seamless Integration: Connect ZERRA.id with your existing accounting systems for a smooth experience. Custom Solutions: Tailored features to meet your unique business needs. 🌟 Why Choose ZERRA.id? Efficiency: Save time and reduce errors with our automated processes. Transparency: Maintain clear and organized financial records. Reliability: Trust in our secure platform to protect your financial data. Support: Our dedicated team is here to assist you every step of the way. Join the growing number of businesses transforming their financial management with ZERRA.id. Discover how we can help you take control of your invoices and debts, and drive your business towards success! Visit ZERRA.id to learn more and get started today! #invoicemanagement #debtmanagement #fintech #businesssolutions #automation #ZERRAID

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Catatan no 04: The technology and operations of the year. PT Bank Tabungan Negara (Persero) Tbk leads in technology and operations at ABF Wholesale Banking Awards 2024. BTN's strategic IT advancements and operational efficiencies secure top honours, affirming its role as a pioneer in the Indonesian banking industry.   PT Bank Tabungan Negara (Persero) Tbk (BTN) has been honoured with the prestigious Indonesia Domestic Technology & Operations Bank of the Year title at the ABF Wholesale Banking Awards 2024, recognising its robust IT strategies and operational excellence. This accolade underscores BTN's commitment to integrating cutting-edge technology to enhance its banking operations, aligning with its vision to become the Best Mortgage Bank in Southeast Asia by 2025.   BTN’s strategic focus on Information Technology is encapsulated in its Information Technology Strategic Plan (RSTI) spanning 2021 to 2025, which revolves around enhancing infrastructure and security for data processing. This strategy is founded on four pivotal pillars, including aligning IT initiatives with business objectives, designing scalable technology stacks, establishing a versatile IT operating model, and developing an IT transformation roadmap that integrates human capital, processes, and technology.   Throughout 2022, BTN undertook significant preparations for a large-scale transformation. This included revising critical systems for enhancement or replacement, adopting an agile-based multi-speed IT operating model, and concentrating on elevating IT maturity. These efforts are part of a broader agenda to develop a digital mortgage ecosystem through digital channel development, merchant system improvements, and business process automation, all aimed at bolstering efficiency and regulatory compliance. #BTN #HGCTHI #LifeasBTNers #TechnologyTakeOver #ITMajuBTNMelaju

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Just wrapped up an incredible week of hustling! 🚀 From brainstorming sessions and investor meetings to late-night strategy planning, it's been a whirlwind. A valuable lesson from Eric Ries' *The Lean Startup*: it's crucial to build a culture of continuous learning and experimentation. This helps in making informed decisions quickly and efficiently, turning ideas into sustainable business models. Excited about the progress we've made and looking forward to what’s next. #Startuplife

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