Financial Services Authority (Indonesia)

ESMA signs Memorandum of Understanding with the Indonesia Financial Services Authority and recognises PT Kliring Penjaminan Efek Indonesia as Tier 1 CCP

Retrieved on: 
Thursday, November 9, 2023

ESMA signs Memorandum of Understanding with the Indonesia Financial Services Authority and recognises PT Kliring Penjaminan Efek Indonesia as Tier 1 CCP

Key Points: 
  • ESMA signs Memorandum of Understanding with the Indonesia Financial Services Authority and recognises PT Kliring Penjaminan Efek Indonesia as Tier 1 CCP
    The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has signed a Memorandum of Understanding (MoU) with the Indonesia Financial Services Authority and updated its list of recognised third-country central counterparties (TC CCPs) under the European Markets Infrastructure Regulation (EMIR).
  • On 19 October 2023, ESMA recognised PT Kliring Penjaminan Efek Indonesia (KPEI) as a Tier 1 CCP under Article 25 of the European Market Infrastructure Regulation (EMIR).
  • The recognition of PT Kliring Penjaminan Efek Indonesia as a third country CCP follows the adoption of an equivalence decision regarding the regulatory framework for central counterparties in Indonesia with EMIR requirements on 8 June 2022.
  • ESMA and the Indonesia Financial Services Authority signed a Memorandum of Understanding (MoU) on 30 September 2023.

WFIS to facilitate Indonesia's most disruptive integration of Technology & FSI

Retrieved on: 
Wednesday, September 27, 2023

In the wake of the situation, the world's largest archipelago is propelling forward with its digital economy and has already produced multiple fintech unicorns.

Key Points: 
  • In the wake of the situation, the world's largest archipelago is propelling forward with its digital economy and has already produced multiple fintech unicorns.
  • The latter has even launched "Master Plan for the Indonesian Financial Services Sector (MPSJKI) 2021-2025" to further favor the developments.
  • With all major financial institutions looking to upgrade their structure with added digital offerings, Indonesia has now become a utopia for technology vendors.
  • This is where WFIS comes across as the best fit for bridging the gap between financial institutions and technology organizations.

DANA and Ant Group Announce Local Women Entrepreneur Winners of the Inaugural SisBerdaya Program

Retrieved on: 
Monday, June 5, 2023

SisBerdaya, a local initiative by DANA and Ant Group dedicated to empowering Indonesian women entrepreneurs mainly from ultra-micro and micro businesses, announced six Grand Winners in Jakarta.

Key Points: 
  • SisBerdaya, a local initiative by DANA and Ant Group dedicated to empowering Indonesian women entrepreneurs mainly from ultra-micro and micro businesses, announced six Grand Winners in Jakarta.
  • The six Grand Winners stood out based on their business plans presented during the final pitching competition.
  • The SisBerdaya program has demonstrated that collaboration is one of the keys to achieving economic independence for Indonesian women."
  • “The successful completion of the inaugural SisBerdaya marks an exciting beginning for the winners and outstanding businesswomen from the program to pursue their dreams and inspirations.

WFIS Paces to Unveil Indonesia's Most Advanced FSI Show

Retrieved on: 
Monday, October 3, 2022

JAKARTA, INDONESIA, Oct 3, 2022 - (ACN Newswire) - With Indonesia darting to incorporate the latest technology innovations in FSI, the country's fintech is expected to generate $8.6 billion revenue by 2025.

Key Points: 
  • JAKARTA, INDONESIA, Oct 3, 2022 - (ACN Newswire) - With Indonesia darting to incorporate the latest technology innovations in FSI, the country's fintech is expected to generate $8.6 billion revenue by 2025.
  • They will also get a chance to take back the latest industry intel shared by the most inspirational thought leaders comprising the best minds from FSI.
  • We are excited to be a part of WFIS Indonesia and looking forward to engaging with the industry leaders over the two days."
  • As a deal facilitator, Tradepass is always determined about exposing the most agile liquid growth markets, to enable all-round scalability and growth.

WeLab and Astra Complete the Acquisition of Bank Jasa Jakarta

Retrieved on: 
Monday, September 19, 2022

HONG KONG, Sept. 19, 2022 /PRNewswire/ -- WeLab, a leading pan-Asian fintech platform, today announced the completion of the acquisition of an Indonesian commercial bank, PT Bank Jasa Jakarta (BJJ), together with PT Astra International Tbk (Astra), one of Indonesia's largest public companies. The completion is marked by the issuance of acquisition approval by the Financial Services Authority (OJK). For this transaction, a WeLab-led consortium, Welab Sky Limited (WeLab Sky), participated in the acquisition together with Astra's subsidiary PT Sedaya Multi Investama (Astra Financial). The WeLab-led consortium has drawn wide-spread support from existing and new investors, including Allianz X, Boyu Capital, Horizons Ventures, SCBX Group[1] and TFB (Taipei Fubon Bank) Capital.

Key Points: 
  • For this transaction, a WeLab-led consortium, Welab Sky Limited (WeLab Sky), participated in the acquisition together with Astra's subsidiary PT Sedaya Multi Investama (Astra Financial).
  • With the acquisition completed today, WeLab and Astra each holds 49.56% of BJJ shares, becoming the majority shareholders and joint controllers of the bank.
  • This is WeLab's second strategic partnership initiative with Astra since the formation of a fintech lending joint venture, PT Astra WeLab Digital Arta (AWDA), in 2018.
  • WeLab operates in three markets under multiple brands, including WeLend, and WeLab Bank in Hong Kong, various business lines in Mainland China, Maucash and a digital bank in Indonesia.

WeLab and Astra Complete the Acquisition of Bank Jasa Jakarta

Retrieved on: 
Monday, September 19, 2022

HONG KONG, Sept. 19, 2022 /PRNewswire/ -- WeLab, a leading pan-Asian fintech platform, today announced the completion of the acquisition of an Indonesian commercial bank, PT Bank Jasa Jakarta (BJJ), together with PT Astra International Tbk (Astra), one of Indonesia's largest public companies. The completion is marked by the issuance of acquisition approval by the Financial Services Authority (OJK). For this transaction, a WeLab-led consortium, Welab Sky Limited (WeLab Sky), participated in the acquisition together with Astra's subsidiary PT Sedaya Multi Investama (Astra Financial). The WeLab-led consortium has drawn wide-spread support from existing and new investors, including Allianz X, Boyu Capital, Horizons Ventures, SCBX Group[1] and TFB (Taipei Fubon Bank) Capital.

Key Points: 
  • For this transaction, a WeLab-led consortium, Welab Sky Limited (WeLab Sky), participated in the acquisition together with Astra's subsidiary PT Sedaya Multi Investama (Astra Financial).
  • With the acquisition completed today, WeLab and Astra each holds 49.56% of BJJ shares, becoming the majority shareholders and joint controllers of the bank.
  • This is WeLab's second strategic partnership initiative with Astra since the formation of a fintech lending joint venture, PT Astra WeLab Digital Arta (AWDA), in 2018.
  • WeLab operates in three markets under multiple brands, including WeLend, and WeLab Bank in Hong Kong, various business lines in Mainland China, Maucash and a digital bank in Indonesia.

Rey Assurance Announces US$4.2M Seed Round and Launches Innovative, Regulatory-Approved Insurance Products with ISO/IEC 27001 Certification

Retrieved on: 
Wednesday, July 6, 2022

SINGAPORE and JAKARTA, Indonesia, July 6, 2022 /PRNewswire-PRWeb/ -- Rey Assurance ("Rey" or "the Company"), the first dedicated and integrated health, life and critical illness insurtech company in Indonesia, today announced $4.2M in seed funding to advance its digital health products and leading technology platform. In addition to announcing the funding from the Trans-Pacific Technology Fund (TPTF), Genesia Ventures, and RDS, the Company is launching a new, disruptive suite of outpatient and inpatient products that have received approval from the Indonesian insurance regulator, Otoritas Jasa Keuangan (OJK).

Key Points: 
  • The new products enable Rey's Members to personalize services with the level of cover that best matches their needs.
  • Rey's products are linked to the Company's proprietary cashless claims system, eliminating the tedious admission and discharging process at all healthcare providers.
  • The combination of customizable products, cashless claims, provider flexibility, and the other optimizations the ecosystem provides delivers significant cost savings for Members compared to traditional insurance.
  • In another first for an Indonesian insurtech, Rey received ISO/IEC 27001 certification with the scope of "Information Security Management for Digital Insurance with Integrated Health Ecosystem".

WeLab acquires Bank Jasa Jakarta in Indonesia with plans to launch second digital bank in Asia, after successful launch in Hong Kong

Retrieved on: 
Tuesday, December 7, 2021

HONG KONG, Dec. 6, 2021 /PRNewswire/ -- WeLab, a leading pan-Asian fintech platform, today announced the acquisition of PT Bank Jasa Jakarta (BJJ), a commercial bank in Indonesia, with plans to launch its second digital bank in Asia further to the successful launch of WeLab Bank in Hong Kong.

Key Points: 
  • HONG KONG, Dec. 6, 2021 /PRNewswire/ -- WeLab, a leading pan-Asian fintech platform, today announced the acquisition of PT Bank Jasa Jakarta (BJJ), a commercial bank in Indonesia, with plans to launch its second digital bank in Asia further to the successful launch of WeLab Bank in Hong Kong.
  • WeLab plans to launch this second digital bank in Asia in the second half of 2022.
  • WeLab already has over 150,000 digital banking customers since running WeLab Bank in Hong Kong in 2019, offering customers a new intelligent banking experience through a full suite of digital banking services.
  • WeLab operates in three markets under seven key brands, including WeLend, and WeLab Bank in Hong Kong, WeLab Digital, Taoxinji, Wallet Gugu, and Tianmian Tech in Mainland China and Maucash in Indonesia.

WeLab acquires Bank Jasa Jakarta in Indonesia with plans to launch second digital bank in Asia, after successful launch in Hong Kong

Retrieved on: 
Tuesday, December 7, 2021

HONG KONG, Dec. 7, 2021 /PRNewswire/ -- WeLab, a leading pan-Asian fintech platform, today announced the acquisition of PT Bank Jasa Jakarta (BJJ), a commercial bank in Indonesia, with plans to launch its second digital bank in Asia further to the successful launch of WeLab Bank in Hong Kong.

Key Points: 
  • HONG KONG, Dec. 7, 2021 /PRNewswire/ -- WeLab, a leading pan-Asian fintech platform, today announced the acquisition of PT Bank Jasa Jakarta (BJJ), a commercial bank in Indonesia, with plans to launch its second digital bank in Asia further to the successful launch of WeLab Bank in Hong Kong.
  • WeLab plans to launch this second digital bank in Asia in the second half of 2022.
  • WeLab already has over 150,000 digital banking customers since running WeLab Bank in Hong Kong in 2019, offering customers a new intelligent banking experience through a full suite of digital banking services.
  • WeLab operates in three markets under seven key brands, including WeLend, and WeLab Bank in Hong Kong, WeLab Digital, Taoxinji, Wallet Gugu, and Tianmian Tech in Mainland China and Maucash in Indonesia.

OneConnect Announces Partnership with Indonesia-based Bank Mayapada, to Enable Digital Onboarding through a Comprehensive Suite of Innovative Solutions

Retrieved on: 
Friday, November 5, 2021

one of Indonesia's largest private banks with more than 216 offices and branch offices across Indonesia, to enable digitisation of banking services through a comprehensive suite of technological solutions developed by OneConnect.

Key Points: 
  • one of Indonesia's largest private banks with more than 216 offices and branch offices across Indonesia, to enable digitisation of banking services through a comprehensive suite of technological solutions developed by OneConnect.
  • This partnership will see OneConnect provide Bank Mayapada with electronic know-your-customer (eKYC) technology, augmented with artificial intelligence (AI) technology to validate the authenticity of customers' indentities.
  • Bank Mayapada Internasional, Tbk., said "We are pleased to strengthen Bank Mayapada's digital journey with next gen technologies together with OneConnect."
  • These solutions enable our customers' digital transformations, which seek to increase revenue, manage risks, improve efficiency, enhance service quality and reduce costs.