AirAsia Money Launches Presence in Indonesia, Presents Financial Product Aggregator Concept

AirAsia's financial arm "AirAsia Money" officially launched its presence in Indonesia as part of the super app. The spirit to be given through this service is the ease of accessing financial products in one pintu, especially AirAsia's customer base which is mostly young generation.

Interest AirAsia working on this financial industry is none other than because this region has huge business potential, according to reports e-Conomy 2021. Both the payment business, loans, to remittances have great potential. Take, for example, GTV predicted that the payments business generated $707 billion and the total flow from the loan business was $39 billion over the past year.

Marketplace financial product

AirAsia Money is marketplace financial products that offer affordable financial solutions, from insurance, investment, remittances and social fundraising, with partners. Overall concept, AirAsia Money is like a financial product aggregator site promoted by Cermati, CekAja, and others.

“AirAsia Money is Capital A's commitment to developing a sustainable and relevant business for the ASEAN market, especially in Indonesia. We are building a solid and innovative financial platform, so that we can provide maximum benefits for all consumers," said AirAsia Indonesia President Director Veranita Yosephine during a virtual press conference, Tuesday (1/3).

Head of AirAsia Money Nadia Ikrana Hasanuddin added, "This platform is designed to make it easier for customers, both those with and without access to financial services, to be able to compare various financial product offerings that are presented at a very affordable value. "In the future, we plan to provide more choices of affordable financial products and services in the country," he said.

Especially in Indonesia, the company cooperates with financial platforms that already have an official license, such as: PasarPolis (insurtech), Bareksa (e-investing), Rumah Zakat (social institution), and Wise (remittance).

When further explored by DailySocial.id, consumer flow when visiting AirAsia Money, the user will be directed to the respective partner's website. For example, choosing consumer investment products is directed to the Bareksa application, or choosing insurance production to the page PasarPolis and follow the payment flow provided by them.

Users can also access educational portals containing news, personal finance guides so they can make the best choices when urgent needs arise. Of the financial products currently available, the categories will continue to be added, starting from top up game credits, pay bills, credit cards & funding. Each product will be rolled out in stages starting from the next second quarter. In addition, the appearance of the AirAsia super application will continue to be refined to provide a more optimal experience.

After Malaysia and Indonesia, AirAsia Money will be released in Thailand in the second quarter of 2022 and the Philippines in the next quarter in 2023. Nadia does not rule out local partners who already have a presence abroad, such as PasarPolis in Thailand, can continue the partnership while present in the country.

“It is not impossible to work together again because the integration process is easier. In addition, Wise is also present globally, they are here for AirAsia Malaysia and Indonesia, if later entering Thailand is also easy, "he concluded.