OCBC partners Ant International to offer embedded finance to Indonesia SMEs

Tie-up taps the bank’s presence and knowledge of SMEs and customer franchise in Indonesia, and Ant International’s capabilities in alternative data modelling, dynamic credit strategy and automated credit decision

OCBC has partnered digital payment, digitisation and financial technology provider Ant International to provide embedded financial services to small and medium-sized (SMEs) enterprises in Indonesia.

The collaboration is set to benefit thousands of SMEs in Indonesia over the next few years, said OCBC and the Jack Ma-backed Ant Group spin-off in a statement on Wednesday (Jun 4).

“This is part of a joint effort to boost financial inclusion for businesses operating in one of the most dynamic and rapidly growing digital economies in South-east Asia,” said OCBC.

The partnership taps the bank’s long-standing presence and deep knowledge of SMEs and customer franchise in Indonesia, as well as Ant International’s capabilities in alternative data modelling, dynamic credit strategy and automated credit decision.

Said Linus Goh, OCBC head of global commercial banking: “We believe this collaboration will help us to shape the future landscape of financial services in an increasingly digital marketplace in Indonesia, and importantly, to help us enable the aspirations and growth of our SME customers.”

Ant International general manager of credit services Quan Tu said the partnership with OCBC “highlights our shared commitment to deliver tech-infused innovation that empowers business growth and support Indonesia’s sustainable future”.

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