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Jakarta Post

DBS Indonesia launches digital financing service

  • News Desk

    The Jakarta Post

Jakarta   /   Tue, May 21, 2019   /   05:09 pm
 DBS Indonesia launches digital financing service Singapore-based lender DBS launched its paperless and signatureless technology branded as “Digibank” for customers who want to open bank accounts in Jakarta on Aug. 29, 2017. (JP/Anton Hermansyah)

Singapore-based lender PT Bank DBS Indonesia on Monday launched a digital banking platform to offer non-collateral loans (KTA Instant) to its customers in Indonesia, which have so far been served mostly by financial technology (fintech) or peer-to-peer (P2P) lending.

DBS Bank Indonesia consumer director Wawan Salum said in Jakarta on Monday that the launch of KTA Instant, part of the Digibank service, was intended to boost the credit segment for individual customers.

“The non-collateral loan segment is our strength for consumer credit, rather than mortgage and credit cards. Through KTA Instant at Digibank, we hope we are able to increase growth by 15 percent,” Wawan said as quoted by kontan.co.id.

He said the KTA Instant platform had been in trials since early 2019 and 100,000 people had proposed to use the application, while Digibank, since its launch in 2017 in Indonesia, had already been used by 1 million people, 600,000 of whom were active users.

KTA Instant offered loans of between Rp 3 million (US$207) and Rp 30 million with monthly interest rates in the range of 1.29 to 2.49 percent, depending on the size of the loan.

“So now there are two ways to propose non-collateral loans: personally coming to our office or through the digital service,” he said, adding that in the initial phase, the company hoped 20 percent of the non-collateral loans would be accessed through KTA Instant.. (Ban)