Parent Company CekAja Acquires IDX Optus, Company in Data Analysis

CekAja's parent company, C88 Financial Technologies, announced that it has acquired IDX Optus -- an information management, credit decision analysis and data processing company in Indonesia. Details of the acquisition deal were not disclosed.

The IDX Optus team will continue to run the company and will have an office with the C88 team as of early 2020, while starting their operations in the Philippines.

JP Ellis as Co-Founder & CEO of C88 said the acquisition was driven by the increasing importance of data and analysis in the financial industry in the Southeast Asia region. He also said that through this acquisition, C88 could become a change partner by providing comprehensive services to customers scoring, decision making, acquisition, and customer interaction for financial institutions.

"C88 has been holding the license all this time marketplace leading financial institutions such as CekAja.com in Indonesia and eCompareMo.com in the Philippines. About a year ago, we partnered with Experian to conduct credit assessment and analysis. With IDX Optus, we further strengthen our position as a leader in this field," said Ellis.

Since its founding in 2013, C88 Financial Technologies has raised more than $45 million in investment. Its shareholders are investors in the global financial sector, such as San Francisco-based Experian Ventures, Zurich-based responsAbility Investments, and Cologne-based DEG.

There are also venture capital investors such as Monks Hill Ventures, InterVest Kejora, Telstra Ventures, Kickstart Ventures, and Korea Investment Partners.

Optus' own IDX solutions currently focus on cognitive and predictive analytics, artificial intelligence, machine learning, data management and visualization, data integration to decision support and credit risk management. IDX Optus serves corporate clients in various fields such as banking, fintech, insurance, telecommunications, retail and government agencies.

IDX Optus CEO Anton Hariyanto welcomed this acquisition as a growth strategy and expansion in the Southeast Asia region.

"We will expand and grow to benefit and help millions of customers in this region in accessing financial services. Transparency and financial literacy are the backbone of a fair and equitable economy, and we are excited to be a part of this journey," said Anton.