UangTeman Distributes Rp 300 Billion Loans in Q2 2018, Ready for Expansion to the Philippines

The online lending platform UangTeman (PT Digital Alpha Indonesia) recorded significant growth in Q2 2018. The company has disbursed loans of more than Rp300 billion, an increase of more than 300% compared to the same period the previous year, while the number of new customers increased 6 times. The company has now served more than 60 thousand customer accounts.

UangTeman also claims to maintain the quality of lending by recording a Non-Performing Loan (NPL) ratio of below 3%.

"As a financial technology company peer-to-peer Multipurpose loan funds, UangTeman is oriented towards providing safe and socially responsible loans to people in need. We also have a strong focus on sustainable business by implementing a fast and accurate selection of prospective customers so that the quality of our loan distribution is maintained, even though the quantity has increased sharply," said UangTeman CEO Aidil Zulkifli.

Currently, more than 30% of loans are intended for SME development purposes, while 25% are for emergency needs related to education, 20% for health-related emergency needs and the rest is more towards consumption.

Apart from claiming to experience positive growth, UangTeman also focuses on improving services to its customers. One of them is by applying the ISO/IEC 27001 standard related to information security management systems in accordance with the Regulation of the Minister of Communication and Information Technology Number 4 of 2016.

“UangTeman focuses on targeting the retail segment, micro transactions, including micro business players to a number of regions in Indonesia. This is in line with the company's commitment to support increasing financial inclusion in Indonesia according to the government's commitment to 75 percent by 2019," said Aidil.

Money Friend's expansion focus

After obtaining Series B funding, UangTeman plans to expand to the Philippines. When asked what UangTeman's plans are and when the expansion will be launched, UangTeman refuses to mention. This step will be the first time that UangTeman has taken since its establishment in 2015. Although it will implement a business model similar to that in Indonesia, it is estimated that the names that will be introduced will be different.

Currently UangTeman already has a number of features, such as One Tap Pay, Advance Notification System, and DEEP. The last is a feature to measure the level of customer satisfaction with the product.