In brief: Indonesian lending platform launches mobile app

Indonesian technology and financial services Finmas has launched its standalone mobile app. It’s designed to provide easy access to affordable and secure credit for underserved consumers as well as micro, small and medium-sized enterprises across Indonesia that need access to reliable and trusted financing options.

Source: Press release

The peer-to-peer lending platform is a collaborative venture between Hong Kong-based financial services startup Oriente and Indonesian conglomerate Sinar Mas.

Finmas launched the beta of its mobile app a few months ago. The app “enables consumers to apply for a cash loan whenever they need access to credit for tuition fees, household expenses, specific consumer goods, emergencies, or to start and grow their small businesses,” the company said in a statement.

Finmas targets people who have little to no access to traditional financial services like bank accounts as well as credit rating and history.