JAKARTA - Crowdo and eFishery announced their collaboration for Neobank digital services to fish farmers in 23 provinces in Indonesia. This is the first collaboration in ASEAN between Neobank and the Aquaculture Intelligence platform. The eFishery fish and shrimp farming community will enjoy the full suite of Neobank Crowdo technologies and services such as an artificial intelligence-powered credit scoring machine, a fully digital underwriting process, access to funding, and a supply chain digitization platform.
According to the Directorate General of Fisheries and Aquaculture, the COVID-19 pandemic has negatively impacted the margins of fish and shrimp farmers by 20 to 30% due to falling retail prices and rising costs.
Crowdo's Neobank is the first platform to integrate operational digitization solutions with financing and banking products targeted as Small and Medium Enterprises (SMEs) in emerging markets. By using the Crowdo digitization platform, SMEs can easily perform supply chain transactions online while receiving specific recommendations for financing and banking products seamlessly. In this case, fish cultivators in Indonesia can stay focused on developing their business without worrying about working capital to finance their business.
“The partnership between Crowdo's Neobank and eFishery shows how the impact of financial technology is not only limited to online businesses but can also positively impact conventional industries. Fish and eFishery farmers can focus on improving their cultivation technology while Crowdo's solution will be utilized to accelerate their business from Day 1,” said Daniel Silalahi, Chief Commercial Officer of Crowdo Indonesia.
In this collaboration, Crowdo will strengthen the "Kabayan (Kasih, Bayar Nanti)" program as the main component of the eFisheryFund service. Kabayan is a program for purchasing aquaculture needs with a tenor system that can be used by fish cultivators to obtain eFishery products such as eFisheryFeeder and fish feed. By becoming one of eFishery's financial partners, Crowdo can provide direct loan facilities to farmers through the Kabayan feature. (LM)