Singapore and Jakarta, 1st May 2021 - MatchMove, the leading Singapore-based ‘Banking-as-a-Service’ platform, and Bank Rakyat Indonesia (BRI), one of the largest state-owned banks in Indonesia, announced their partnership to bring digitally native next-generation embedded finance to Indonesia.
Indonesia is the largest economy in Southeast Asia with a vibrant cultural and entrepreneurial landscape. Indonesia is a key milestone in MatchMove’s strategy to enable embedded finance and financial inclusion across Asia.
Embedded finance is taking the financial world by storm, with significant investments and interest worldwide. MatchMove’s Banking-as-a-Service enables businesses of all sizes to add bespoke banking products and services as part of their existing offerings. This partnership with BRI will bring embedded finance capabilities to all types of Indonesian businesses, large and small, in both the private and public sector.
This is another example of MatchMove’s and BRI’s on-going commitment to innovation and financial inclusion. MatchMove has already identified significant demand for its capabilities that it has developed with BRI. This demand is a combination of existing MatchMove customers wanting to expand to Indonesia, as well as many local Indonesian firms looking for an embedded finance solution to accelerate their digital visions.
Commenting on the launch of the new service, Shailesh Naik, Founder and Group CEO of MatchMove said, “MatchMove is committed to improving digital financial inclusion across Indonesia as well as enabling SMEs to rapidly digitise their businesses. This is yet another example of MatchMove leading the way towards the future of embedded and inclusive finance.”
Together, MatchMove and BRI are enabling financial innovation at scale for all Indonesians. This partnership opens another chapter in MatchMove's mission to connect all people in South & South East Asia with the financial products and services they need.
Bank Rakyat Indonesia (BRI) is one of the largest state-owned banks in Indonesia. In 2020, BRI had more than 45 million active customers across Indonesia.
BRI’s vision is to become the Most Valuable Banking Group and the Champion of Financial Inclusion.
BRI aims to conduct the best banking practices with a priority to serve micro, small and medium enterprises to support the economy of the people and provide customers with excellent services through professional human resources with a performance-driven culture, reliable information technology and future ready, as well as productive conventional and digital network by adhering the operational principle and risk management excellence.
MatchMove is one of the world’s fastest growing and most disruptive fintech companies in digital payments and next-generation banking.
MatchMove’s proprietary Banking Wallet OS™ enables 'Banking-as-a-Service' and the capabilities of Spend.Send.Lend.™ within any app. The platform empowers businesses and their customers to Spend both online and offline easily and safely, via instantly issued prepaid cards on major card networks. Its Send capabilities include P2P domestic transfers, cross-border remittances, P2M and mass disbursements to global recipients. MatchMove’s platform further extends to Lend, where credit scores are assigned based on customers’ spending and sending patterns to offer customised lending solutions.
Envisioning a financially inclusive world as it wages war on cash, MatchMove’s solutions help enterprise clients digitise payments and give the financially underserved segments the empowerment to move their money anytime and anywhere.
MatchMove is licensed by the Monetary Authority of Singapore and authorised by leading card networks to issue virtual and physical cards directly to users in approved jurisdictions, or anywhere else in the world with partner banks.
The company has been recognised with international awards for being a promising and an innovative organisation, as well as for being a preferred employer.
MatchMove is headquartered in Singapore with offices in India, Indonesia, Vietnam and the Philippines. For more information, please visit www.matchmove.com.
Marketing Director, MatchMove