WeLab is a leading pan-Asian fintech platform with presence in Hong Kong, Mainland China, and Indonesia. It has developed market leadership with proven successful track record of launching a digital bank, WeLab Bank, in Hong Kong. Astra is one of Indonesia's largest public companies with diversified business model creates synergies and opportunities across industry sectors including automotive, financial services, heavy equipment, mining construction and energy, agribusiness, infrastructure and logistics, information technology, and property. The complementary strengths of the partners, including Astra's solid business ecosystem and long-standing experience as well as and vast distribution network in Indonesia's financial services sector together with WeLab's know-how and technology in building and being an operator in digital banking, are highly synergistic and key success factors to propel BJJ's digital transformation and into an innovative digital bank to serve the digital financial needs of Indonesians with accessible and innovative banking solutions.
Dr. Arak Sutivong, Deputy CEO, SCBX said that the group recognizes the growth opportunities in the digital banking business in Indonesia. The market is still at a nascent stage with no established presence and real established leader. It is a great opportunity to invest in a leading big data-enabled online digital bank lending platform in Indonesia to capture the great demand for digital banking services and country's enormous underbanked and unbanked population with tech-savvy young consumers. It is SCBX Group's strategic move to set a strong footprint in digital banking regionally.
Source: SCBX Group