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Maybank Indonesia and Batumbu collaborate to boost MSME sector growth in Indonesia
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B
ank Maybank Indonesia has signed a strategic partnership agreement with PT Berdayakan Usaha Indonesia (Batumbu), a company operating in the information technology-based funding services, or fintech, sector.
This strategic collaboration involves the disbursement of Rp 1 trillion in financing from Maybank Indonesia to expand funding coverage and promote the growth of the small and medium enterprise (SME) and micro, small and medium enterprise (MSME) business ecosystem.
Maybank Indonesia’s president director, Steffano Ridwan, explained that this financing channeling partnership was an implementation of Maybank Group’s M25+ strategy, particularly enhancing the bank's financing performance in strategic programs (SP7) involving the digitalization of financial services accessible to MSME customers.
"One of the financing segments that Maybank Indonesia is focused on developing is MSMEs, which are a key pillar of the national economy," said Steffano at the signing of the strategic partnership with Batumbu on Sept. 19 at Maybank Indonesia's head office in Jakarta.
To enhance financing penetration, Maybank Indonesia not only utilizes its own network but also strengthens it through partnerships with fintech companies with broad ecosystem networks, he added.
Steffano revealed that Maybank Indonesia is targeting MSME financing growth and digital financing development in 2024, aligned with the mission of humanizing financial services. Through the partnership with Batumbu, Maybank Indonesia aims to expand its MSME financing market, especially in the rapidly growing financial supply chain management sector.
"We are also targeting MSME players who are distributors and/or suppliers, using a channeling scheme to provide financial access and solutions to Indonesian MSMEs," said Steffano.
At the same event, Batumbu's president director Tan Glant Saputrahadi stated that the partnership with Maybank Indonesia enhanced Batumbu's ability to support digital financial services while providing easier access to MSME business players.
Glant added that this aligned with Batumbu's vision of increasing financing for MSME entrepreneurs. "Our vision is to provide significant financing to MSMEs, while driving economic growth and sustainable development across Indonesia," said Glant.
Batumbu is a fintech company focused on productive financing. It aims to develop the potential and aspirations of Indonesian MSMEs through a sustainable ecosystem synergy. Batumbu, as a digital MSME financing platform in Indonesia, has recorded a net profit for over two years, consistently achieving year-on-year EBITDA growth of over 50 percent.
The strategic partnership is expected to have a positive impact on the growth of Indonesian MSMEs, which make a significant contribution to Indonesia’s gross domestic product (GDP). "We hope this collaboration will also sharpen the bank's solutions for MSME players, creating a positive impact on their businesses and the MSME sector in Indonesia as a whole," said Steffano.
