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JAKARTA. Financial technology-based bank PT Bank Amar Indonesia has registered Rp 120 billion (US$9 million) of loans disbursed through online platform Tunaiku, equating to 60 percent of its Rp 200 billion loan target for 2016.
"Compared to other startup-based fintech [financial technology] loans, we can guarantee you that our loans are safer because we are monitored by the OJK [the Financial Services Authority]," said Bank Amer Indonesia director Vishal Tulian in Jakarta on Monday.
Indonesia, he said, had great potential for fintech-based loans as the majority of its people still did not have access to banking services.
The bank, controlled by Singapore-based Tolaram Group, started the online platform in June 2014 after taking over East Java-based lender Bank Anglomas International.
However, it had started its intensive campaign on Tunaiku this year as the OJK committed to creating rules regarding fintech.
Ozi Amanat, the Singapore-based businessman who owns venture capital firm K2 Global, helped in the funding and development of the platform. (aAnton Hermansyah)
