KTA Online Tunaiku Service Opens New Offices in Three Cities

Tunaiku, a KTA banking product from Amar Bank that is specifically engaged in digital marketing, is increasingly steadily expanding its wings to several new cities this year, namely Bandung, Yogyakarta and Medan. Thus, Tunaiku will officially have five branch offices throughout Indonesia since it was first officially established in 2014.

CEO my cash Vishal Tulsian said that the development of the Tunaiku business to several cities is a demand and public interest in fintech services that continues to increase.

"In the future, people will really need financial services that can facilitate their needs," he said.

With this expansion, it is hoped that Tunaiku's digital contribution to the company's total credit distribution can grow. Last year, Amar Bank targeted credit distribution of around Rp 500 billion. However, until the middle of last year the realization of credit disbursement had reached Rp 375 billion.

From that figure, Tunaiku give contribution around 40% or Rp 180 billion. This achievement has almost reached the target planned Amar Bank for Tunaiku's contribution in 2016 of Rp200 billion.

Tulsian continued that the process of submitting an application to disbursement of money via the Tunaiku platform only takes about four to five working days. Tunaiku offers loans between IDR 2 million to IDR 10 million with an interest of 3% per month, for a loan period of about 6 months to 12 months.

Expansion trend to new cities

Not only Tunaiku who decided to expand to other cities, other fintech companies engaged in P2P lending such as my capital announced its expansion to Bandung last year, then there MoneyFriend which recently inaugurated its expansion to Bali.

The main reason behind this expansion activity is quite simple, namely to reach segments of society who are not familiar with fintech services. There the need for liquidity is very high, but banks cannot serve all of them because they are constrained by complicated legal matters and many SMEs do not meet the criteria.

This business cake is the food for fintech players, who on average target the micro community segment with a loan size of no more than IDR 10 million and without collateral. So that their business land is not face to face directly with banks.

Tunaiku's approach, which is none other than a KTA banking product from Amar Bank, on the one hand has strengths that P2P lending players cannot have, namely being licensed as a commercial bank.

This license is an advantage for Amar Bank to attract more customers with the initial approach of offering KTA products. From there, when customers have leveled up, they can offer other banking products with a higher nominal credit limit than before, plus other banking-standard financial services.