Fintech’s Fresh Frontier
- 500-backed fintech platform Seedflex is now officially registered with Indonesia’s financial services authority OJK (Otoritas Jasa Keuangan) as a provider of aggregated information for financial products and services, paving the way for wider financial inclusion and digital transformation in the country’s financial services industry.
- With this license, Seedflex can now partner with local financial institutions to simplify access to financial products and services in Indonesia.
- Partners can gain access to Seedflex’s seamless and embedded application programming interface (API) to integrate directly on their own platforms, get dedicated support and tap the growth potential to capture new market segments.
- With over 285 million people, Indonesia is the world’s fourth most populous nation and also has the fourth largest number of unbanked population globally, creating substantial untapped market potential.
- Indonesia’s rapid digital transformation is laying the groundwork for fintech solutions to reach previously underserved populations, with the industry projected to surpass US$8.6B by 2025.
- Seedflex launched in Malaysia last year to provide merchants with access to its proprietary “Pay-As-You-Sell Advance”™ (PAYS Advance), a dynamic credit solution that automatically adjusts loans and paybacks based on sales revenue realization, as part of its vision to help underserved business in Emerging Asia and improve access to credit for cashless commerce.
- Read the full story on Tech in Asia.