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FinAccel acquires Bank Bisnis, to enter digital banking

Jakarta, Indonesia – PT FinAccel Teknologi Indonesia, a directly controlled subsidiary of FinAccel Pte Ltd, the parent company of Kredivo has announced that it has acquired a majority share in PT Bank Bisnis Internasional, Tbk. The acquisition is seen as a big step forward in FinAccel’s expansion strategy of providing customers with a wide range of financial services. 

Said services range from digital credit and BNPL, to digital banking and larger-ticket loans in the future. PT FinAccel Teknologi Indonesia will hold 75 per cent of Bank Bisnis at the end of the acquisition process, which is expected to be completed by the end of this week, with the Suriadi family, the former majority owners, keeping a significant minority interest. All regulatory permissions, including from Indonesia’s Financial Services Authority, have been obtained for this acquisition.

Akshay Garg, group CEO & co-founder of FinAccel, said that Kredivo has been at the forefront of consumer credit digitization via its BNPL business over the last several years and that the digitization of Indonesian banking services is only getting started. 

“In line with the mission to serve customers with products that are fast, affordable and widely accessible, they look forward to serving customers with world-class banking products in the future. They are also very grateful to the Suriadi family for their support and cooperation during this year-long acquisition process,” said Garg.

Purnawan Suriadi, lead shareholder representative for the Suriadis, commented, “Bank Bisnis has a long and proud heritage. As the banking sector rapidly digitizes, they are very excited to bring in FinAccel Teknologi as the new majority shareholder of the bank, and look forward to working with them in their vision of building the leading digital bank franchise in Indonesia.”