13 June 2025
Bank Index and PT MatchMove Indonesia Establish Strategic Partnership: Launch Co-Brand Debit Card to Support Financial Inclusion in Indonesia
Jakarta, 13 June 2025 – Bank Index, one of Indonesia's leading commercial banks, announced a strategic partnership with PT MatchMove Indonesia, an embedded finance technology provider, to launch a co-branded debit card. This initiative aims to expand access to formal financial services and encourage the growth of the national digital economy.
The signing of the cooperation that took place today in Jakarta marks an important milestone for both institutions in presenting innovative, secure, regulated and accessible digital financial solutions to the wider community.
Encouraging Indonesia's Digital Economy Growth
This co-branded debit card integrates MatchMove's advanced embedded finance technology with Bank Index's robust banking infrastructure. The result is a seamless and easy-to-use digital payment solution for various segments of society.
"This initiative is in line with Bank Index's digitalization strategy in expanding financial services and reaching a wider segment of society," said Gimin Sumalim, President Director of Bank Index. "This partnership reflects our commitment to delivering innovative financial products that are relevant and supporting the national agenda of financial inclusion."
Bridging the Financial Access Gap
Although Indonesia's digital economy is growing rapidly, a large portion of the population still does not have optimal access to formal banking services. This co- branded debit card is expected to be a solution that bridges this gap, empowering individuals and business actors of various scales—micro, small, medium, to large—to be actively involved in the digital ecosystem.
"We are very excited to partner with Bank Index in bringing embedded finance solutions in Indonesia," said Shailesh Naik, Founder of MatchMove. "This advanced digital finance solution is not just a means of payment, but a gateway to broader financial empowerment for millions of Indonesians. Having delivered similar solutions to accelerate the digital economy in other regional markets, we are confident of providing a superior service that meets the needs of Indonesians. "
Shared Vision Towards the Future
This partnership is based on a shared vision to build an equitable and sustainable financial ecosystem. Both Bank Index and MatchMove are committed to innovation, customer satisfaction, and contribution to national economic development.
About MatchMove
PT MatchMove Indonesia is a subsidiary of MatchMove Pay Pte Ltd, a Singapore- based fintech company that has emerged as one of Asia's leading Banking-as-a- Service (BaaS) providers, enabling businesses to embed financial services directly into their digital solutions. The company operates its proprietary, secure and regulated Banking Wallet OS™ platform across six markets including Singapore, Indonesia, India, Malaysia, Philippines, and Vietnam. MatchMove operates under full regulatory compliance in each market.
MatchMove has been recognized with multiple industry awards, including the most recent Frost & Sullivan award for being the Singapore leader in enabling embedded finance, for a diverse range of use cases. Always partnering with leading local banks, the company continues expanding its embedded finance solutions across Southeast Asia's rapidly growing digital economy. MatchMove's mission centres on providing innovative financial technology solutions that bridge the gap between traditional banking and modern digital commerce. The company continues to pioneer new approaches to embedded finance across the region's diverse regulatory and market environments.
About Bank Index
Bank Index is a National Private Commercial Bank (BUSN) which was established in Jakarta on July 30, 1992 and officially began operating on August 23, 1993. This bank is known as a bank that consistently maintains healthy and reliable performance, as evidenced by the Diamond Trophy award from Infobank for the title of The Excellent Performance Bank for 20 consecutive years (2003–2023).
Bank Index's business focus is in the commercial sector, especially on the development of the Small and Medium Enterprises (SMEs) segment. Bank Index is also active in establishing financing cooperation with other financial institutions, such as Bank Perkreditan Rakyat (BPR) and multifinance companies.
With a network of 50 offices spread across various major cities in Indonesia and connected online, Bank Index continues to strengthen its services through the development of technology and information systems. Since 2018, Bank Index has launched IndexQu (Internet and Mobile Banking) and IndexQu Business to facilitate digital customer transactions without time and place restrictions.
For media inquiries, please contact: marketing@matchmove.com
