Bridging the Gap
Forbes Indonesia|November 2021
Komunal provides a platform that connects depositors to rural banks that rely on brick-and-mortar branches.
Elisa Valenta
Bridging the Gap

Indonesia's banking sector is undergoing a digital transformation. As part of the evolution of digital banking, financial technology firms, primarily fintech lending firms, have also been actively partnering with Rural Banks (Bank Perkreditan Rakyat/BPR). Around 1,500 rural banks are dotted across the archipelago, serving as an alternative financial provider for communities not served by commercial banking, particularly those in remote areas.

Rural banks are a subset of conventional banks and typically do not provide payment services. Their banking activity is more limited than that of other commercial banks, as the law restricts their activities to a single province, and as a result, they have much lower capital requirements than commercial banks. Their financial constraints are also hindering many of them from keeping up with digital trends.

While these rural banks are restricted to lending within their respective provinces, they can accept deposits from all over the country. However, owing to the fact that the majority of rural banks are located in non-urban areas and lack digital channels, rendering their products inaccessible to urban depositors, these 1,500 rural banks only account for only about 1.5% of total depositors in the country.

As a result, many rural banks are actively developing new strategies to attract depositors through collaborations with fintech firms such as Komunal. Komunal is a fintech firm that leverages rural banks to provide peer-to-peer (P2P) lending services. Komunal, which was founded in 2019, connects depositors and savers with rural banks that rely heavily on brick-and-mortar locations.

Esta historia es de la edición November 2021 de Forbes Indonesia.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición November 2021 de Forbes Indonesia.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE FORBES INDONESIAVer todo
BACK ON TRACK
Forbes Indonesia

BACK ON TRACK

Collective wealth gets a 21% boost to a record $162 billion amid an economic uptick.

time-read
10+ minutos  |
December 2021
Championing Locals
Forbes Indonesia

Championing Locals

The wave of social commerce is enabling inclusive digital economies beyond urban areas.

time-read
6 minutos  |
December 2021
Boys in the Bubble
Forbes Indonesia

Boys in the Bubble

Startups are supposed to specialize, but OPENSEA’s founders thrived by building a wide-open market for creating and trading all manner of NFTs, whether art, music or gaming. Now that they’re centimillionaires and poised to become billionaires, they have other worries: competitors, fraudsters and the next crypto crash.

time-read
6 minutos  |
December 2021
Enduring Relations
Forbes Indonesia

Enduring Relations

The implementation of IA-CEPA amid the pandemic signifies the Indonesia-Australia’s commitment to recover and counter future challenges together.

time-read
6 minutos  |
December 2021
Sweet Success
Forbes Indonesia

Sweet Success

Steven Erwin envisions Unifam to become a major global player in the confectionery and F&B industry.

time-read
5 minutos  |
December 2021
Marathon Man
Forbes Indonesia

Marathon Man

Across America, scores of municipal pension funds remain scandalously underfunded. But not the pension fund of Tampa’s police and firemen, thanks in large part to JAY BOWEN, whose no-frills approach to stock picking has protected and served them for more than 45 years.

time-read
5 minutos  |
December 2021
Gold Rallies on Inflation Fears
Forbes Indonesia

Gold Rallies on Inflation Fears

During September the price of gold rallied to $1,868 per ounce following the release of figures on US inflation by the Bureau of Labor Statistics which indicated that, as of September, CPI inflation had rocketed to 6.2%, above the 5.8% which economists had been predicting.

time-read
2 minutos  |
December 2021
Set Off to A New Start
Forbes Indonesia

Set Off to A New Start

Bank Aladin has two main ingredients for success: establish trust and offer better customer experiences.

time-read
5 minutos  |
December 2021
The Daily Intake
Forbes Indonesia

The Daily Intake

YOUVIT plans to invest further into marketing and grow into one of the leading vitamin brands in Indonesia.

time-read
4 minutos  |
December 2021
THE CROESUS OF CRYPTO
Forbes Indonesia

THE CROESUS OF CRYPTO

FTX COFOUNDER SAM BANKMAN-FRIED BUILT A $22.5 BILLION FORTUNE BEFORE HIS 30TH BIRTHDAY BY PROFITING OFF THE CRYPTOCURRENCY FRENZY—BUT HE’S NOT A TRUE BELIEVER. HE JUST WANTS HIS WEALTH TO SURVIVE LONG ENOUGH TO GIVE IT ALL AWAY.

time-read
10+ minutos  |
November 2021