Superbank, Home Credit partner to aid underbanked Indonesians

Superbank’s Tigor Siahaan / Photo credit: Superbank

Super Bank Indonesia (Superbank) has announced that it will be working with consumer finance firm Home Credit to offer working capital loans. These will be distributed by Home Credit as multipurpose loans.

The collaboration aims to bridge the gap between banking services and underbanked individuals in Indonesia.

Superbank, which was rebranded from Bank Fama International in February, plans to leverage its extensive data, tech, and network assets. Some of its existing ecosystem partners include Emtek Group, Grab, and Singtel.

Emtek acquired Bank Fama in November 2021. Earlier in January, Grab and Singtel bought minority shares in the Indonesian lender in a US$70 million deal. The two Singapore-based firms also built GXS, a digital bank in the city-state.

Digital banking in Indonesia has recently had an uptick in adoption. Citing a report from Bank Indonesia, Superbank said digital banking transactions hit about US$3.5 billion in 2022, a 28.7% surge from the previous year.

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Note: This article was written with the help of AI. Don’t worry, humans were still involved in producing this story.