Jakarta, September 19, 2024– PT Bank Maybank Indonesia Tbk (“Maybank Indonesia”) has established a strategic partnership with PT Berdayakan Usaha Indonesia (“Batumbu”), a technology-based funding service company (Fintech Lending) that is part of the Validus Group, a digital financing platform based in Singapore.
This strategic partnership aims to channel financing worth IDR 1 trillion. The collaboration is designed to expand the market and promote the growth of the Small and Medium Enterprise (SME) ecosystem.
Maybank Indonesia's President Director, Steffano Ridwan, stated that this partnership implements Maybank Group’s M25+ strategy, which includes the SP7 Uplift Indonesia program aimed at strengthening Maybank Indonesia's ability to provide innovative financial services and the best experience for customers.
“We are initiating partnerships with technology-based funding service companies that share our goals and align with our mission of ‘Humanising Financial Service.’ This strategic partnership with Batumbu is the right strategy to expand our financing distribution,” said Steffano during the signing event of the strategic partnership with Batumbu on Thursday (August 29) at Maybank Indonesia's Head Office in Jakarta.
Steffano explained that in 2024, Maybank Indonesia aims to grow SME financing and develop digital financing. The collaboration with Batumbu targets the expansion of Maybank Indonesia’s market focusing on growing SMEs and the growth of Financial Supply Chain Management (FSCM) business. “We are also targeting SMEs that are distributors and/or suppliers with a channeling scheme to provide financial access and solutions to Indonesian SMEs,” added Steffano.
At the same event, Batumbu's President Director, Tan Glant Saputrahadi, noted that the partnership with Maybank Indonesia enhances Batumbu's capabilities to support digital financial services while providing easy access to entrepreneurs in the SME sector.
Glant mentioned that this aligns with Batumbu's vision of increasing financing to SMEs. “Our vision is to provide significant financing to SMEs while promoting economic growth and sustainable development in Indonesia,” said Glant.
Batumbu is a Fintech Lending company focused on productive financing. Batumbu aims to develop the potential and aspirations of Indonesian SMEs through sustainable ecosystem synergy. As a digital SME financing platform in Indonesia, Batumbu has reported net profits for over two years while consistently achieving EBITDA growth of over 50% year-on-year.
Maybank Indonesia hopes that this strategic partnership will have a positive impact on the growth of Indonesian SMEs, which contribute significantly to Indonesia's Gross Domestic Product (GDP). “We hope this collaboration will sharpen our solutions for SMEs, creating a positive impact on their businesses and the Indonesian SME industry,” concluded Steffano.
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About Maybank Indonesia
Maybank Indonesia is a leading bank in Indonesia with both regional and international networks under the Maybank Group. It offers a comprehensive range of products and services for individual and corporate customers through Community Financial Services (Retail and Non-Retail Banking) and Global Banking, as well as automotive financing through subsidiaries WOM Finance for two-wheelers and Maybank Finance for four-wheelers. Maybank Indonesia is also continuously developing its Digital Banking services through M2U (App and Web), M2E for corporate customers, and various other channels. As of June 2024, Maybank Indonesia has 327 branches, including Sharia branches across Indonesia and one overseas branch (Mumbai, India), 22 Mobile KCPs, and 735 ATMs (including 26 Cash Recycle Machines/CRM) connected to over 20,000 ATMs in the PRIMA, ATM BERSAMA, ALTO, CIRRUS networks, and connected to 3,500 Maybank ATMs in Singapore, Malaysia, and Brunei. Maybank Indonesia manages customer deposits totaling IDR 115.58 trillion and has total assets worth IDR 189.16 trillion as of June 2024.
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About Batumbu
Batumbu is a technology-based funding service company (Fintech Lending) that has been registered and supervised by the Financial Services Authority (OJK) since April 2019. It received the license for Technology-Based Money Lending Services through the decision of the Board of Commissioners No. KEP-11/D.05/2021 from OJK on February 23, 2021.
Batumbu facilitates easy access to financial services by connecting fund providers and recipients needing productive financing through a digital platform owned and managed by Batumbu (for the avoidance of doubt, Batumbu does not provide consumer funding to individuals). It is supported by shareholders: (i) Validus Investment Holdings Pte, Ltd (“VIH”), which is also a shareholder of Validus Capital, PTE Ltd, a leading Fintech Lending company in Singapore, and (ii) PT Triputra Investindo Arya, the holding company of Triputra Group.