Digital Financing Collaboration, Akulaku Finance and Bank Jago Establish Channeling Cooperation

Jakarta, 25 November 2020 – In order to support the national economic recovery program, PT Akulaku Finance Indonesia (Akulaku Finance Indonesia) and PT Bank Jago, Tbk (Bank Jago) have agreed to establish financing cooperation through a channeling scheme. Through this agreement, Bank Jago is committed to providing funding of IDR 100 billion to Akulaku Finance which will be used to increase credit distribution to its users.

Efrinal Sinaga, President Director of PT Akulaku Finance Indonesia, explained that this agreement is one of the company’s strategies in creating positive business growth in the midst of the pandemic, as well as helping the government in encouraging economic recovery due to the COVID-19 pandemic. “Consumer purchasing power and expansion of the real sector are important factors in economic recovery. These two factors will have an optimal impact if banks and finance companies remain expansive in distributing credit. Akulaku and Bank Jago have the same thoughts on this matter.”

Efrinal added that the Covid-19 pandemic has changed people’s mindset and lifestyle, which prioritizes distancing, contactless and cashless. This change in mindset affects customers in accessing financial services, including digital loans. “COVID 19 forced consumers to become highly digital. “This also has a positive impact on increasing online credit applications,” he said.

Efrinal explained that the collaboration with Bank Jago shows the banking industry’s trust in Akulaku Finance Indonesia, as a digital-based financing company and pioneer of future financing industry trends. During the 2020 period, the company has signed financing collaborations with Bank OCBC NISP, Bank JTrust, BPR Supra Artapersada, and today with Bank Jago.

“Thank you for the trust of Bank Jago which has provided channeling financing facilities to Akulaku Finance Indonesia during this challenging pandemic condition. Of course, we will continue to maintain this trust through financing quality control that implements risk-based marketing principles and good risk mitigation practices. “Apart from that, we also continue to improve the quality of screening, scoring and insurance for financing objects, as well as complying with the criteria provided by the bank,” concluded Efrinal.