PT FinAccel Teknologi Indonesia, a directly controlled subsidiary of FinAccel Pte Ltd, has recently announced the acquisition of a majority stake in Bank Bisnis, one of the leading financial services providers in Indonesia. The financial technology company termed the latest acquisition a giant lead toward its expansion strategy.
The acquisition process is expected to be completed by the end of this week. For the mentioned acquisition, all regulatory approvals have been obtained, including approval from Indonesia’s Financial Services Authority. According to FinAccel, the acquisition will enhance the product offering of the fintech firm.
After BNPL services, FinAccel is planning to enter the digital banking space to target a broader market. FinAccel is the parent company of Kredivo.
"While Kredivo has been at the forefront of consumer credit digitization via our BNPL business over the last several years, the digitization of Indonesian banking services is only getting started. In line with our mission to serve customers with products that are fast, affordable and widely accessible, we look forward to serving customers with world-class banking products in the future. We are also very grateful to the Suriadi family for their support and cooperation during this year-long acquisition process,” Akshay Garg, the Group CEO & Co-Founder of FinAccel, commented.
Southeast Asia
The Southeast Asian region is home to some of the world’s fastest-growing economies like Indonesia and Vietnam. With a strong existing presence in Indonesia, FinAccel is planning to enhance its reach in the region with the inclusion of digital banking services.
Purnawan Suriadi, the Lead Shareholder Representative for the Suriadis, said: “Bank Bisnis has a long and proud heritage. As the banking sector rapidly digitizes, we are very excited to bring in FinAccel Teknologi as the new majority shareholder of the bank, and look forward to working with them in their vision of building the leading digital bank franchise in Indonesia."
