Standard Chartered has announced the launch of digital consumer loans in the Indonesian market in partnership with fintech platform Kredit Pintar.
Under the partnership, Standard Chartered will use Kredit Pintar’s platform to offer loans up to $70m (IDR1tn).
The announcement comes after Standard Chartered entered into a global partnership with Atome Financial in October last year.
The collaboration is aimed at offering $500m in loans over 10 years via Atome Financial in several Asian markets such as Malaysia, Singapore, Vietnam, and Indonesia.
Notably, Kredit Pintar, which is part of Atome Financials group companies in Indonesia, is registered and governed by the country’s financial regulator OJK.
Since it began operations in 2017, Kredit Pintar has disbursed over $1.5bn in loans.
Standard Chartered cluster CEO of Indonesia & ASEAN Market (Australia, Brunei and Philippines) Andrew Chia said: “Standard Chartered is proud to launch our digital partnership with Kredit Pintar, our second such partnership with fintech lenders in Indonesia.”
In October 2021, Standard Chartered allied with digital credit platform Kredivo to offer BNPL offering in Indonesia.
Standard Chartered head of consumer, private and business Banking (CPBB) Indonesia Jeffrey Tan said: “This collaboration aligns with the bank’s strategy to grow assets in the consumer digital banking space through partnerships with fintech and digital finance. This partnership with Kredit Pintar will pave the way for our collaboration with partners to offer more financial products and client solutions jointly in other key markets in the future.”
Kredit Pintar director Wisely Wijaya said: “The roll-out of this strategic partnership with the Kredit Pintar brand is further proof of our investors’ and partners’ trust in us to use technology to drive sustainable financial inclusion, for both consumers and small businesses, in Indonesia.”