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Tech-Driven Credit that Transcends the Boundaries

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Tech-Driven Credit that Transcends the Boundaries

Fintopia Successfully Registered with the OJK in Indonesia

PR Newswire

JAKARTA, Indonesia and BEIJING, Aug. 30, 2018 /PRNewswire/ -- PT. Indonesia Fintopia Technology (the "Company"), a subsidiary of Fintopia - a leading global fintech company headquartered in China, recently announced its official registration with the Financial Services Authority ("OJK") of Indonesia. Upholding the concept of 'Enjoy Easier Life with EasyCash', the Company leverages its cutting-edge technologies and its extensive experience in the field of risk management to help improve the financing of Indonesian people that have limited access to conventional banking services through its tailor-made product, EasyCash.

Indonesia is Southeast Asia's biggest economy with a population of 264 million people. However, with only one in three adults having bank accounts, the bank loan penetration in Indonesia is among the lowest of Asia Pacific countries. The financial technology, developed by companies such as Fintopia, coupled with rapid development of mobile internet in the country might be the key to solve this problem and to provide credit where credit is due. "We put a special focus on building a technology-driven fintech platform to meet the demand for fast, convenient and accessible financing and by doing so, we hope to contribute to the inclusive finance development all around the world," said Liu Yongyan, the CEO of Fintopia.

Besides Fintopia's edge in technology and risk management, its close collaboration and communication effort with the OJK is also important in helping the Company to obtain official registration. "We highly appreciate the trust and support from the OJK. Moving forward, we will strictly comply with the local financial regulations and work hand in hand with the local authorities to build a sustainable, inclusive finance platform in Indonesia," Liu said.

Rooted in China, Fintopia has now quickly expanded into a global Fintech leader with approximately 260 employees with shared vision and international backgrounds that bring together financial experts from Wall Street and IT experts from Silicon Valley to transform the way people access credit and make investments. Indonesia apparently is only one of the international markets that Fintopia is eyeing to expand into. "We hope that our financial technology can be used to help and serve people all around the world and that's the reason why we are now looking to expand into other markets such as Brazil, Philippines, Thailand, Japan, etc.," Liu said. "We will continue to provide expansive and user-friendly financial services to more users in Indonesian market with hope to contribute to local economy and jobs. Our success in Indonesia further proves that we are able to succeed in other markets as well for they have equivalent, if not better, financial data and mobile internet infrastructures."

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SOURCE Fintopia Inc.

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