Bank Aladin and ZA Tech to Establish New Digital Ecosystem

Bank Aladin (BANK) has finally officially partnered with an insurance technology company or insurtech, ZA Tech Global Limited, as a new investor. As previously reported by D-Insights, ZA Tech would participate in the addition of capital through a new share issuance scheme with pre-emptive rights (HMETD) or rights issue.

In a press conference on Wednesday, Dyota Marsudi, President Director of Bank Aladin, said that ZA Tech's technology would strengthen the bank's digital ecosystem. "Bank Aladin is the leading sharia digital bank in Indonesia, while ZA Tech is the leading insurtech in Asia," he elaborated. The collaboration will improve financial inclusion and access for underbanked, unbanked consumers and small and medium enterprises (SMEs) to insurance products. Previously, Bank Aladin agreed to collaborate with Alfamart and the Hajj Fund Management Agency (BPKH). Apparently, the COVID-19 pandemic has been increasing the potential of the insurtech business in Indonesia, therefore, Bank Aladin and ZA Tech intend to capitalize on it.