Xendit Clarifies Not Involved in Management of "Nex" Digital Bank Application

Xendit issues an official statement regarding its involvement in app development digital banking Nex. To DailySocial.id, a Xendit representative said that the Nex application is fully managed by PT Nex Teknologi Digital. Two other parties, PT Sumber Digital Teknologi and Xendit itself (PT Sinar Digital Ter Depan) are not involved in the management.

"The Nex application is a digital product that is currently in a limited trial period, and is currently only used for internal users, without involving Bank Sahabat Sampoerna," the management wrote.

This statement issued by Xendit is to straighten the news previously airedDailySocial.id, stated that the Nex application is managed by PT Nex Digital Technology, PT Sumber Digital Teknologi (iluma.ai), PT Sinar Digital Ter Depan (Xendit), and their affiliates based on the Privacy Policy page.

From monitoring DailySocial.id, the initial features that Nex offers are 6% annual interest paid daily on savings, free admin and transfer fees, and ease of sending and receiving funds. This offer is quite common, like other modern digital banks.

Previously, Xendit confirmed that he had made a strategic investment in Bank Sahabat Sampoerna and would become the bank's technology partner to develop technology infrastructure, as well as improve internal processes and products.

Quoting from Bank Sampoerna's website, Xendit Pte. Ltd. control 14,96% of the shares. The majority shareholder, PT Sampoerna Investama, was diluted to 64,24%. Then, PT Cakrawala Mulia Prima (part of the Alfa Group) also eroded to 14,28%. The rest, controlled by Abakus Pte. Ltd. (2,55%), Sultan Agung Mulyani (2,49%), Ekadhamajanto Kasih (0,79%), and Yan Peter Wangkar (0,69%).

Xendit becomes a startup fintech the next one who is serious about working on digital banks. Among them, there are parent Kredivo which officially controls 75% of the shares of Bank Bisnis Internasional, Grab and Singtel as a strategic investor for Bank Fama, Modalku and Carro invest in Bank Index, and Ajaib Group holds 40% stake in Bank Bumi Artha. The rest are just rumors, just waiting for the official news, such as Amartha who is rumored to be acquiring Bank Victoria Syariah.