DBS Bank Indonesia and Modalku Distribute Rp 100 Billion Loans to Indonesian MSMEs

JAKARTADAILY.ID – Bank DBS Indonesia in collaboration with Modalku, a digital funding platform for MSMEs in Indonesia, provides financing of Rp 100 billion in the form of channeling for Indonesian Micro, Small and Medium Enterprises (MSMEs).

Director of Institutional Banking Group PT Bank DBS Indonesia Kunardy Lie revealed, this collaboration realizes the aspirations of Bank DBS Indonesia in reaching MSMEs, a segment that has not been touched by Bank DBS Indonesia.

"Through the collaboration we have with Modalku, Bank DBS Indonesia indirectly provides support and contributes to the growth of MSMEs in Indonesia," said Lie, in a statement, Tuesday, May 31, 2022.

Bank DBS Indonesia acts as an institutional lender, where loan funds are channeled to Micro, Small and Medium Enterprises (MSMEs) who are members of Modalku.

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According to Lie, in addition to loans, Bank DBS Indonesia also provides DBS IDEAL digital corporate banking services to help simplify Modalku's daily transactions.

"In the future, we want to work with more third parties to build a digital ecosystem in line with our commitment to continue to accelerate financial inclusion in Indonesia," he said.

In addition, specifically designed to answer the needs of MSMEs, DBS IDEAL simplifies and speeds up the corporate banking transaction process.

DBS IDEAL allows customers to make transactions anytime and anywhere, tracking transactions in real-time, transparently and informatively.

"So, MSME actors can focus on the important thing, namely developing the business itself," he added.

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Having a mission aligned with Bank DBS Indonesia, Modalku aims to create a more inclusive and innovative financial world by supporting cash flow management for business operational needs and connecting potential MSMEs with lenders.

Modalku Co-Founder & CEO Reynold Wijaya added, for the six years running since 2016, the Modalku Group has disbursed funding of Rp 34.89 trillion in five countries in Southeast Asia, namely Indonesia, Malaysia, Singapore, Thailand and Vietnam.

"We see that there is a similar mission with Bank DBS Indonesia to provide access to capital so that it can provide support to MSME business players to continue to grow," said Reynold.