Earlier today we were thrilled to officially launch Finmas (PT Oriente Mas Sejahtera) our stand-alone app in Indonesia that provides easy access to affordable and secure credit both online and offline, for millions of underserved person and MSME in the country who are in need of access to reliable and trusted financing options.

The highlights:

  • Finmas provides on-demand lending and other personalized financial services to millions of underserved consumers and MSMEs across Indonesia
  • Finmas is a partnership between Hong Kong-Headquartered Oriente and Indonesian conglomerate Sinar Mas Group
  • Strong partnership ecosystem in development to accelerate financial literacy and inclusion in support of Otoritas Jasa Keuangan efforts
  • Finmas is on track to create over 1,000 new jobs for Indonesians in 2019

This year over 66% of Indonesia’s 260 million population is ‘unbanked’ or have no formal bank account or access to basic financial services. In fact, the credit gap is expected to reach US$ 54 billion by 2020.

Finmas was designed for people who have little or no access to traditional banking and formal financial services (including bank accounts, credit rating, or credit history). Since its beta launch a few months ago, the Finmas app has already empowered tens of thousands of Indonesians to build their own financial futures, by leveraging next generation mobile and data technology. During this development phase, the Finmas team has developed a number of innovative financing solutions designed to serve more Indonesians where they are, and with the financing solutions they want.

The Finmas app is available for download on the Apple and Google Play mobile-app stores. Through Finmas, consumers have access to:

  • an OJK-registered digital finance solution
  • multiple purpose-based financing options
  • a service that is paperless, collateral-free and available 24×7 via their own mobile device
  • low interest rates with no hidden fees
  • real-time credit-scoring
  • choice of repayment schedule
  • funding in as little as 24 hours

Speaking on the occasion, Peter Lydian, President Director of Finmas said, “We are excited to launch a service in line with OJK’s mission to accelerate financial inclusion for every Indonesian. Finmas aims to help millions of Indonesians unlock their financial potential through #SahabatFinansial practices that are founded on core principles of responsibility, security, convenience and affordability. We are grateful to receive the support and guidance of OJK and Sinar Mas in addition to the resources and technological expertise of Oriente on our journey to reach every underserved Indonesian microentrepreneur and consumer.”

Mr. Hendrikus Passagi, Director Regulation, Licensing and Supervision Fintech of the Financial Services Authority (OJK) said, “We as regulators hope that Finmas is not only an important player, but also a responsible and ethical industry role model and an active OJK partner in educating the public the risks and benefits of digital financing.”

Gandi Sulistiyanto, Managing Director of Sinar Mas stated, “Financial inclusion for the public does not only support financial services, but it must also be equipped with understanding of the characteristics and culture of the users to ensure comfort and privacy protection, including education to users is guaranteed. Finmas bridges all these things.”

“With Finmas we aim to build a new infrastructure designed to serve underbanked Indonesians that have suffered for decades,” said Geoffrey Prentice, co-Founder, Oriente. “Our cutting-edge, proprietary technology allows us to build a reliable alternative to traditional credit scoring models that is purpose-built for the unbanked majority of consumers and MSMEs in Indonesia, creating financial identities and unlocking economic potential for millions.”

Empowering Indonesians by giving them financial freedom at their fingertips, Finmas enables consumers to apply for credit with ease at just the push of a button – for tuition fees, household expenses, specific consumer goods, emergencies, or to start and grow their small businesses. Consumers are in full control as they can keep track of their loan application status and repayment schedule.

As a visionary financial technology company that aims to play a leading role in developing Indonesia’s future-ready financial services sector, Finmas focuses on fostering responsible financial habits through grass-roots financial literacy and education programs, which aims to support livelihoods, improve the economic welfare of the Indonesian people, and ensure long-term socio-economic impact.

Finmas is deeply committed to building the country’s financial health by opening access to transparent, convenient and secure financial services. In line with its mission to be an industry-leader that prioritizes customer security and data privacy, Finmas officially received ISO 27001:2013 Information Security Management System Certification on 15 January 2019.

Peter Lydian, President Director of Finmas led the launching of the mobile-app with co-Founders of Oriente, Hubert Tai, Geoffrey Prentice, and Lawrence Chu; Bpk. Franky Widjaja, Sinar Mas; and Bpk. Hendrikus Passagi, Director of Regulation Licensing and Supervision Fintech, Otoritas Jasa Keuangan (OJK); and senior executives from AFTECH and AFPI.

Download the full press release here:

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