Banks to Enter Online Lending Business and Paylater
Several banks start to implement consumer credit disbursement through online platforms and joint financing. Bank Negara Indonesia (BNI), for example, on Wednesday (1/15) initiated the collaboration with a traveling and lifestyle app, Traveloka, for its Paylater feature, the installment payment method, without any credit card.
BNI’s director of consumer business, Anggoro Eko Cahyo, revealed that the collaboration allowed the bank to disburse up to Rp 6 trillion of consumer credit. As a consequence, the state-owned bank could potentially boost the growth of consumer credit this year by up to two digits.
Meanwhile, Bank Rakyat Indonesia (BRI) would increase the consumer credit disbursement through its online lending platform called Ceria, recently launched in December 2019. BRI is the first state-owned enterprise operating an online lending app. Clients can use Ceria for any transaction with the merchants in partnership with BRI using the installment payment method, similar to Paylater.
BRI’s director of consumer business, Handayani, also revealed that at the end of 2019, the bank had approved the loan proposal of 1,000 clients through the Ceria app, while this year, BRI aimed to attract 20,000 more clients.