Tag: Bank Negara Indonesia (Persero)

Indonesia – PT Bank Negara Indonesia (Persero) Tbk (BNI) has entered into a strategic collaboration with PT Berdayakan Usaha Indonesia (Batumbu), a fintech lending platform, to enhance financing access for micro, small, and medium enterprises (MSMEs) across Indonesia.

Recognising the vital role of the MSME sector, BNI’s partnership with Batumbu highlights the bank’s dedication as an “Agent of Development” to expanding access to productive financing for MSMEs within supply chain ecosystems.

As part of this collaboration, BNI will provide a loan channelling facility of IDR 1.2t to Batumbu, which will allocate the funds to its MSME partners using a supply chain financing model.

This strategic alliance leverages technology to streamline financing, empowering MSMEs to grow and drive Indonesia’s economic progress, reaffirming BNI and Batumbu’s commitment to inclusive financial access.

Through initiatives like its collaboration with Batumbu, BNI aims to deliver transformative solutions that empower MSMEs to compete globally and achieve long-term success.

The partnership was officially cemented with the signing of a Cooperation Agreement (PKS) by I Nyoman Astiawan, BNI’s general manager of retail productive banking, and Reza Perazi Armadi, Batumbu’s president director, during a ceremony at BNI Tower in Jakarta.

Armadi expressed his enthusiasm for the partnership, highlighting its alignment with Batumbu’s mission to empower MSMEs across Indonesia, backed by the support of Validus Investment Holdings Pte Ltd.

“This partnership unlocks opportunities for us to deliver fast, tailored financing solutions to small and medium enterprises, many of whom remain underserved by traditional banking services,” Armadi stated. 

Speaking at the event, BNI’s director of retail banking, Corina Leyla Karnalies, emphasised the strategic significance of the collaboration in empowering MSMEs, a vital pillar of Indonesia’s economy.

“In this era of digital transformation, technology has become a pivotal enabler for the advancement of the financial sector. Fintech lending presents innovative, efficient, and inclusive financing solutions tailored for MSMEs. At BNI, we remain steadfast in our commitment to fulfilling our role as an agent of development by driving innovation and leveraging digitalisation to simplify and enhance credit access for MSMEs,” Karnalies remarked.

Since its founding in 2018, Batumbu has disbursed IDR 45.1t in financing as of October 2024, maintaining sustained profitability with positive monthly EBITDA since 2022.

Through this partnership, BNI and Batumbu reaffirm their commitment to building an inclusive financial ecosystem that empowers MSMEs and strengthens Indonesia’s economic resilience.

Jakarta, Indonesia – Indonesia’s Buy Now, Pay Later (BNPL) platform Kredivo together with global financial services company Mastercard and Bank Negara Indonesia (Persero) (BNI), a technology and payment innovation has launched the Infinite Card, a virtual card that can be used to pay on all e-commerce and online platforms by simply entering a few pieces of data, just like a credit card.

Through the collaboration, the new feature enables Kredivo’s customers to transact using Kredivo’s credit limit across all of Mastercard’s online merchant network. In result, millions of online shops who accept Mastercard can now accept Kredivo payments.

All transactions made with the Infinite Card will be removed from the Kredivo credit limit, which can go up to 30 million IDR (about US$2,500). Kredivo’s interest rates are the same for Infinite Card transactions: 0% for 30 days and 3 months installments, and 2.6 percent per month for 6 and 12 months. Each and every digital platform that accepts credit card payments can take use of the Infinite Card’s convenience features. The Infinite Card will be gradually rolled out to Kredivo’s user base over the next few months.

Umang Rustagi, CEO of Kredivo Indonesia, said that Kredivo is committed to providing retail credit products that are fast, affordable, and widely accessible. The Infinite Card, as the name implies, will provide unlimited access to online transactions, anywhere and at any time, making Kredivo a credit-card like product for our nearly 5 million Indonesian customers. 

“This innovation dramatically reduces the accessibility gap between traditional credit card holders and Kredivo customers,” Rustagi said.

Navin Jain, country manager for Mastercard Indonesia, commented, “Mastercard is proud to collaborate with Kredivo and BNI to bring the benefit of Mastercard’s acceptance network in Indonesia and globally to millions of consumers.”

“Kredivo is a pioneer in bringing financial access to new-to-credit consumers in Indonesia, and with Mastercard’s innovative value-added services, their consumers will now be able to use their purchasing power across online platforms accepting Mastercard payment cards. These solutions will bring consumers more choice and encourage them to use digital payment methods, an important goal of OJK (Indonesia’s Financial Services Authority) and the Central Bank,” Jain added.