Check out the new fintech industry partnerships announced during the IFFC 2016
An MOU-signing ceremony witnessed by President Joko Widodo marked the beginning of the second day
Investree Chairman & Co-Founder Adrian Gunadi (third from left) with Bank Danamon CIO Mary James (fourth from left)
The Indonesia Fintech Festival & Conference 2016 (IFFC 2016) entered the second and final day of the event, with fintech industry players using the opportunity to launch a new partnership with fellow startups, conventional banks, and even industry associations.
Several companies even had the opportunity to sign their MOU on stage during the opening ceremony, with President Joko Widodo witnessing the process.
The following are some of the new partnerships announced by startups, banks, and industry association during the event.
Also Read: Here are the 3 major concerns of fintech industry players in Indonesia
Investree – Bank Danamon
P2P lending platform Investree announced their partnership with Bank Danamon on the first day of IFFC 2016.
Bank Danamon will be handling cash management for lending activities facilitated by the Investree platform, which connects lenders to SMEs.
“This is part of a genuine partnership to push for financial inclusion, making the process faster, safer, and more accessible to the public,” said Adrian Gunadi, Chairman and Co-Founder of Investree.
Also Read: Indonesian fintech event IFFC 2016 is set to champion financial inclusion
The startup has been working with Bank Danamon since its launch in October 2015.
“At the time there were not that many banks who were willing to talk to us, as we were a new company, and fintech itself is a young industry in Indonesia. But we see that Bank Danamon has the spirit and passion to bridge the needs of the customers and the technology that the bank provides,” Gunadi explained.
Dimo CEO Brata Rafly in the company’s booth at IFFC 2016
Dimo – Sinarmas Bank
Mobile payment startup Dimo and Sinarmas Bank were one of the businesses who had the opportunity to sign their MOU in the presence of President Joko Widodo.
According to Dimo CEO Brata Rafly, the partnership can help with the startup’s user acquisition strategy, particularly in consumer education process.
“This year we are focussing on educating the market and securing more partnerships, as consumer education will not be successful without an increase in the number of partners … So the education process has to target three subjects: Merchants, banks, and the customers. And it has to happen at the same time,” he said.
Rafly also stated that the startup is looking forward to announcing another partnership with three banks –one state-owned enterprise and two private banks— in October.
Amvesindo Chairman Jefri R. Sirait (second from left) during a press conference at IFFC 2016
AMVESINDO – SVCA
On the venture capital firms side, Venture Capital Association for Indonesian Startups (AMVESINDO) and the Singapore Venture Capital and Private Equity Association (SVCA) announced the formation of the ASEAN Venture Council.
The ASEAN Venture Council will be an umbrella organisation consisting of venture associations interested in the promotion of the ASEAN Venture Capital Ecosystem. It intends to enable its member associations to promote and develop the venture capital industry in a more concerted effort across the region, by leveraging each other’s strengths and capabilities. Particularly in hosting events, advocacy, research, education and deal flows.
“We are expecting to learn a lot from our friends at SVCA and the ASEAN Venture Council … Looking at the enthusiasm from our startup friends in today’s event, we believe that there is a great commitment to building a better ecosystem,” said Jefri R. Sirait, Chairman of AMVESINDO.
The MOU-signing for this partnership was also witnessed by President Joko Widodo during the opening ceremony.
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