Fintech
BRI Bank and Korean FinTech E9pay promote financial inclusion in Indonesia
By Gloria Mattia
Today
- APAC fintech
- BIS Bank
- Banking technology
PT Rakyat Bank Indonesia (BRI) They lost Tbk e E9pay announced a memorandum of understanding with BIS investment in E9pay, aiming to expand cross-border business and digital financial services for 50,000 Indonesian migrants in South Korea.
BRI is an Indonesian bank with a global footprint. E9pay, on the other hand, is the Korean licensed FinTech company specializing in cross-border remittances and payments.
The agreement implies a commitment to consolidate the international partnership between BRI and E9pay through direct investments. Leveraging the convergence of a bank’s network and a FinTech company’s digital agility, the two entities aim to provide specialized financial services to Indonesian migrant workers, students and spouses in Korea, making financial services accessible and stress-free for them as in their country. Country of origin.
The MoU outlines 5 key areas of collaboration, as follows:
- BIS direct investment in E9pay
- The digital banking system in Korea
- Seamless account opening,
- Joint financial solutions in new business areas,
- Expansion of the platform business.
For years, BRI and E9pay have been a driving force in facilitating remittance services between Korea and Indonesia, even before the MOU. Their convenient customer support in native language (Bahasa) and fast, convenient money transfers help migrant workers send living and education expenses to their families back home.
“BIS facilitates money transfers from South Korea to Indonesia through an integrated network between the BRI platform, BRIfast Remittance, and E9pay’s world-class digital service. Additionally, Indonesian workers abroad in South Korea are familiar with the E9pay digital app, available on their smartphones, which gives them access to send money to the vast BRI network in Indonesia.” Agus further adds, “This partnership with E9pay will offer Indonesia’s national foreign income heroes access to distinct financial services by exploring new features from digital accounts to loan payments.”
“Since 5 years ago, when the partnership between E9pay and BRI was established, we have been committed to providing convenient remittance service for Indonesian workers living in Korea,” he said Hyuk-Goo Jeon, “Looking to the future, we are more than just business partners. We are a family united by a shared vision. Together we will achieve new heights in promoting financial cooperation and development between Korea and Indonesia.”