PT Super Bank Indonesia (Superbank) has announced a strategic partnership with PT Home Credit Indonesia (Home Credit) to expand access to inclusive financing for underbanked communities in Indonesia.
Through this collaboration, Superbank will provide working capital loans to Home Credit, which will be distributed as multipurpose loans to those who need it and are not yet fully reached by banking services, both parties said in a statement on Monday.
“As a bank with digital-based services backed by one of the most extensive ecosystems in Southeast Asia, we believe in the power of digitalization to expand access to safe and
trusted financial services and increase people’s welfare,” said Sukiwan, Chief Business Officer of Superbank.
“Our partnership with Home Credit is a testament to this commitment. Home Credit is an experienced and trusted financing company, and we are confident that together, we can bring financial solutions to underbanked communities across Indonesia,” he said.
According to the statement, the partnership is a response to the increasing interest among the public in using financing companies such as Home Credit to meet their various needs.
Cited the Financial Services Authority (OJK) data, it said that financing sector activities continue to show a growing trend and provide good financing quality.
The outstanding value of financing receivables grew by 12.17 percent year-on-year to IDR 402.6 trillion, while the non performing financing (NPF) ratio decreased to 2.54 percent.
The growth of the financing performance is in line with a survey conducted by Home Credit in February 2023, in which the usage of financing products was mostly driven by people’s preference in managing their personal financial cash flow and keeping cash for emergency funds or savings.
“Home Credit has the same commitment as Superbank to improve people’s welfare by opening various opportunities in their lives through financing solutions with a transparent and fast process,” said Volker Giebitz, Director of Home Credit Indonesia.
“We have helped around 6 million customers in more than 200 cities in Indonesia to fulfill their daily needs. As for 2022, we have reached first-time borrowers at an average of 32 percent per month,
“Collaboration with our banking partners, one of which is Superbank, can help us to expand our range of services, including multipurpose financing for our existing customers,” he said.
According to the statement, the partnership between Superbank and Home Credit is expected to directly impact the improvement of the welfare of underbanked communities and economic equality across all regions of Indonesia.
“Supported by the extensive ecosystem, distribution, and digital networks owned by Superbank and Home Credit, we are optimistic that this cooperation can make a positive difference in the lives of underbanked communities,” Sukiwan concluded.
Superbank is a bank that’s currently transforming into a digital-based services bank.
The bank is the new brand that replaces PT Bank Fama International, a commercial bank that was founded in Bandung, 1993 which was taken over by the EMTEK Group, Grab and Singtel in 2021.
As a newcomer in the Indonesian digital banking sphere, Superbank aims to expand access to credit for micro, small and medium-sized enterprise (MSME) customers in managing their businesses, provide innovative.
Home Credit Indonesia is a technology-based financing company that is committed to providing new opportunities for Indonesians through financial services such as customer goods financing for smartphones, gadgets, furniture, electronic devices and others, cash financing, pay later and protection.
Operating since 2013, Home Credit Indonesia has served more than 5.8 million customers and cooperating with more than 22,000 stores owned by business partners across Indonesia with fast service and available anywhere.
Among its current partners are prominent manufacturers, retailers and marketplace including Samsung, VIVO, OPPO, Realme, Erafone, Informa, Electronic City, Hypermart, Lotte Mart, ACE Hardware, Gramedia, Rodalink, Tokopedia, Bukalapak, Blibli and others.