OCTO Loan Qorus Reinvention Awards - APAC - Winner
IndonesiaCategory
Core Offering InnovationKeyword
Loans, Customer acquisition & loyalty, Customer experience, Payments, Corporate branding, Mobility
Innovation presentation
The prospect of Buy Now Pay Later (BNPL) is predicted to have a great opportunities to continue to grow in Indonesia. However, the growth of BNPL is unable to develop quickly due to the dependence on the readiness to accept BNPL as Source of Fund (SoF) as one of the payment method option for its customers. Currently BNPL's mechanism is still focused on online or e-commerce based payments and selling transaction. Bank CIMB Niaga oversees this gap and seek this as an opportunity in mind to fill in this shortfall to promote financial inclusivity in the Indonesian market.
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