In just 4 years, Akulaku has shown gigantic progress. It has affected a very large number of people and helped them improve their lives with various financial aids. With hard work and consistency, it has generated very positive word of mouth and credibility. Learn more about it in detail.
What is Akulaku?
Akulaku is one of the largest P2P (person to person) money lending organizations in Indonesia, helping hundreds of thousands of people to get out of difficult financial situations. All you have to do is Login to Akulaku and complete some formalities to get an instant loan. It is now planned to extend its impact to Southeast Asia, and it continues to grow at a tremendous pace.
The company is reported to launch digital banking services in Asia in the fourth quarter of 2020. Your plan has just been confirmed by the fintech company to offer digital banking services in Southeast Asia.
History of Akulaku:
Akulaku was launched four years ago and has tried to focus on expanding its activities Digital banking Sector. In November 2018, Akulaku led a China-based consumer finance company. A $ 70 million Series C round of financing was closed this year. The company had already operated the online consumer finance platform to focus on the Indonesian and Southeast Asian markets. It is also one of the first financial technology companies in China to open up the Southeast Asian market. Yanxin technology from Shenzhen created this platform because it is the by-product of this company.
Akulaku was founded by CEO William Li in 2016. Akulaku is headquartered in Indonesia as the company also offers other services in the Philippines, Vietnam and Malaysia. The company has claimed approximately 6 million users and handles approximately $ 1.5 billion in transactions annually. Akulakus digital services aim to fill the critical gap that exists in Southeast Asia due to under- or unbanked consumers. The CEO told KR Asia that his company plans to offer affordable and comprehensive financial services to Indonesian consumers only.
It was found that around two-thirds or some say that as many as 66% of Indonesia's residents were without bank accounts. These people who live in Southeast Asia don't even have an established credit history for the matter. The CEO had found that most people in this region had to borrow money from friends, neighbors, or even their family members. He added that the company needs to think about a more efficient method of evaluating the potential customer and has the creditworthiness to approve its loan applications as quickly and permanently as possible.
In the past year Akulaku had acquired BVB, a commercial bank based in Indonesia. This company has claimed that the number of credits from user accounts fluctuated from 30,000 to 3.00,000 within a year or less. Li confirmed that the company was trying to convert BVB into a fully digital banking platform. She also had a first version of the digital banking app, which said that it should be launched in the fourth quarter, which will take place in 2020.
In March 2019, Akulaku announced that the Indonesian landing bank Yudha bhakti will be acquired for around $ 11 million. And by 2020, in January, private bank PT Bank Yudha Bhakti Tbk (BYB) had already unveiled the strategy that helped it achieve many top-notch results, or even results. There are two organizations that have been duly noted in the development of the BYB hand at the request of Yudha Bhakti. This application consists of mobile banking solutions to provide online savings and credit services to active employees.
"Ant FinancialWe have been positioned as a technology company from day one. But before that, we just wanted to make sure that we use the technology to innovate, create examples, and redefine financial services that people can feel and touch, ”said Eric Financial's CEO, Eric Financial, in November.
As a result, Ant has invested in technologies like blockchain and wants to provide services to the financial services industry. We want to be a platform … to help more people.
While business was booming, the company posted a rare pre-tax profit of 2.4 billion yuan ($ 353 million) for the quarter ended September 30. Alibaba blamed the cost of tracking growth.