Bank DBS Indonesia channels IDR100 billion in financing to Modalku
JAKARTA - Bank DBS Indonesia in collaboration with Modalku, as a digital funding platform for MSMEs in Indonesia, provides financing of IDR 100 billion in the form of channeling. Bank DBS Indonesia acts as an institutional lender, where loan funds are channeled to MSMEs who are members of Modalku. In addition to loans, Bank DBS Indonesia also provides DBS IDEAL digital corporate banking services to help simplify Modalku's daily transactions. This collaboration realizes the aspirations of Bank DBS Indonesia in reaching MSMEs, a segment that has not been touched by Bank DBS Indonesia so far.
Kunardy Lie, Director of Institutional Banking Group PT Bank DBS Indonesia said, "Through the collaboration we have with Modalku, Bank DBS Indonesia indirectly provides support and contributes to the growth of MSMEs in Indonesia. In the future, we want to be able to collaborate more with third parties to build a digital ecosystem in line with our commitment to continue to accelerate financial inclusion in Indonesia. In addition, specifically designed to answer the needs of MSMEs, DBS IDEAL simplifies and accelerates the corporate banking transaction process by enabling customers to make transactions anytime and anywhere, tracking transactions in real-time, transparently and informatively. So, MSME players can focus on what is important, namely developing the business itself.”
The Modalku Group, also known in Southeast Asia as Funding Societies, has channeled funding to more than 5 million MSME loan transactions. The area for distributing funds is also not limited to Java, but also outside Java which can be realized through collaboration with various digital platforms as Modalku partners. To date, more than 200,000 lenders, both individuals and institutions, have contributed to lending funds to MSMEs through Modalku with the number of accounts still dominated by individual lenders. (LM)