Online retail lending platform provided by CTBC Indonesia



CTBC Indonesia Bankwhich acts as a special unit CTBC Bank, a recognized private bank in Taiwan, recently announced that it introduced a digital lending platform for a personal loan product known as KTA Dana Cinta

IN KTA Dana Cinta the product allows you to borrow up to Rs 200 million (approximately US $ 13,800) without the need to provide any collateral. Applicants can within a minute receive a decision on whether they will receive a loan (or not). The firm says it is the only banking provider in Indonesia to provide instant principal approval for all unsecured personal loans with this type of limit.

While other banking institutions in Indonesia offering fully digital financial services such as savings accounts, Bank CTBC Indonesia decided to (first) provide a loan product.

A company spokesman told Tech in Asia that they understand their place in the market as a smaller bank – so they adopted their business strategy.

In statements general with Tech in Asia, Ryan Kesuma, the head of a digital lending firm, said every other virtual bank is starting to offer some sort of Super app that aims to provide almost every possible banking and non-banking service. It can be a tricky issue, however, and the loans are likely below the set of services, Ryan noted, adding that this is the reason they are trying to get right down to business while remaining “nimble.”

The firm says it plans to create a revamped KYC process that won’t require face-to-face or face-to-face contact, or even a video call.

CTBC Indonesia says it received nearly 20,000 digital loan applications in just a few months during the testing or trial phase of its 60-second loan service. Bambang Simmon Simarno, the company’s executive director of retail banking, noted that the company is looking to expand its share of its digital lending product with institution unsecured personal loans in the coming years.

OJK, the national financial services authority, reported that as of the past year, the number of applications for loans using digital money has increased. The loan applications were valued at $ 5.1 billion, up 24.5% from 2019, OJK confirmed.


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