Akulaku Finance Increases Collaboration with Bank Jago

A finance company part of the Akulaku Group, PT Akulaku Finance Indonesia is increasing collaboration with Bank Jago to jointly distribute financing to the public. The addition of the funding facility which was signed on Monday, March 29 2021 at the same time proves mutual trust and cooperation that is mutually beneficial.

Akulaku Finance will use the funding facility to support the company’s steps in increasing the expansion of financing distribution in the first half of this year.

President Director of Akulaku Finance Indonesia Efrinal Sinaga revealed that this strategic collaboration is a continuation of the channeling financing collaboration that was previously established in the last quarter of 2020.

“This funding from PT Bank Jago, Tbk is at the same time support for Akulaku Finance in an effort to expand access to digital-based financing for the public, MSMEs, and accelerate financial inclusion,” he said.

Efrinal said that the continuation of the strategic collaboration with PT Bank Jago is evidence of the increasing support and trust from various banking partners in the company’s vision and performance. “We will continue to maintain the trust of our banking partners by maintaining the quality of financing distribution through the implementation of good risk mitigation and management,” he said.

Efrinal said that Akulaku Finance’s financing distribution will continue its good growth trend in the first quarter of 2021. Akulaku Finance is quite optimistic about being able to record growth in financing distribution of at least 50% compared to 2020.

This optimism is mainly based on the prospects for Indonesia’s economic growth which is increasingly conducive and improving after the implementation of the vaccination program and the increasing adoption of digital financial services which continues to increase due to the Covid-19 pandemic. This change in habits has had a positive impact on increasing the distribution of financing through online platforms.

However, the company remains committed to maintaining the quality of financing distribution by improving the quality and parameters of the credit scoring system in a consistent and prudent manner, reliable collection management, and implementing good risk mitigation. By implementing several of these aspects, Akulaku Finance is expected to continue to maintain the company’s non-performing financing ratio at a healthy level.