Parent Kredivo Introducing the Kredifazz P2P Lending Platform, Focusing on the Productive Sector

FinAccel, parent of Kredivo, announced startup p2p loans named Kredifazz focusing on the productive sector. FinAccel's management has also been overhauled and will be effective in January 2021.

Even though he arrived later than other lending players in Indonesia, VP Marketing & Communication Kredivo Indina Andamari explained that his party remains optimistic that they can compete because Kredifazz prioritizes product and service quality, and responds to consumer needs.consumer-centric). Especially with the ecosystem that has been built Kredivo, can be directly used by Kredifazz to make it more expansive.

"As well as Kredivo, Kredifazz has user experience that seamless pattern so that users can feel comfortable in getting a loan. Kredifazz will certainly have the same advantages as Kredivo, namely low interest, registration process online, and security guarantees on par with banks," explained Indina to DailySocial, Monday (14/12).

One of Kredifazz's products that can be accessed by the public is Klop, the result of collaboration with Telkomsel. Telkomsel, through Telkomsel Innovation Partners (TMI) invest in Kredivo last year. According to Indina, Klop is a manifestation of the synergy between the two companies to expand safe, convenient, and affordable credit penetration through the network Telkomsel.

For information, Klop is a cash loan that is specifically offered to customers Telkomsel. The credit limit given is a maximum of IDR 30 thousand with a tenor of 30 days. On a limited basis, Klop rolled out for customers Telkomsel who are 18-60 years old, domiciled in Greater Jakarta, Bandung and Surabaya, and earn a minimum of IDR 3 million per month.

This limit can be used to shop at more than 350 merchant Kredivo and choose the Kredifazz payment option on the payment page on the site merchant. It is not known the interest charged for each loan.

Indina also said, regarding the legality of Kredifazz. He said, Kredifazz is a change in the name of the platform from Kredivo, so there are no changes to the permits that have been obtained since the beginning and the records have been made at the OJK.

"Kredifazz is currently registered and supervised by the OJK, while its p2p business license is in the process of obtaining a business license in the hope that it will be obtained soon."

Same as Kredivo before changing licenses to become a finance company, Kredifazz was also limited in utilizing funds from Actioncalendar institutions only for the distribution of financing. “For anyone Actioncalendar institution, at this time we have not yet informed it.”

Although Klop plays in the consumptive segment, Kredifazz's spirit is to distribute productive credit. The percentage will slowly increase from 35% to 50% in the next two years.

Overhaul FinAccel group management

Simultaneously, last week the management of the FinAccel group overhauled its management, which will be effective in January 2021. Kredifazz will be led by Alie Tan, who previously served as CTO of the FinAccel group.

Umang Rustagi as CEO of FinAccel will serve as CEO Kredivo, replacing Akshay Garg. Akshay himself will take on new responsibilities as Group CEO of FinAccel which oversees its two business units, PT Finaccel Finance Indonesia (Kredivo) and PT Finaccel Teknologi Indonesia (Kredifazz).

Umang will collaborate with Valery Crottaz as COO and Paramananda Setyawan as Chief Data Officer (CDO) at Kredivo. Both Umang and Alie will continue to hold responsibilities at the parent company as Deputy CEO and CTO of the FinAccel group.

This overhaul was taken to make the management structure more effective and efficient, so that the group's target to serve 10 million customers by 2025 can be realized. The above officials provide a joint statement regarding this information in an official statement.

They said, “We are grateful to be able to seize this once in a lifetime opportunity on our journey to expand financial access for the under-banked and under-served communities in Indonesia. Now, fine Kredivo and Kredifazz can focus on expanding their business scale, while the FinAccel group can continue to move and explore innovations in other areas.”