Akulaku Group Profile Handbook

financial services

We believe in improving people's life quality through digital

Who are we?

Akulaku, Southeast Asia's leading digital financial services platform, was officially launched in 2016.

Akulaku is dedicated to providing responsible financial credit and inclusive financial services to those who cannot access traditional financial services.Our Company aims to meet the daily financial needs of customers, particularly in emerging markets, through digital finance, bank with digital services, digital investment,and insurance brokerage services.

With an outstanding R&D team, Akulaku adheres to its core philosophy of enabling business growth through technology and continues to advance the digital finance industry through technological advances.

In the area of risk control, Akulaku leverages its excellent data capture and analysis capabilities to integrate big data, cloud services, automated processes and biometrics, together with a local KYC database, to achieve fast and efficient customer service. We are also actively laying out intuitive customer service and widely applying artificial intelligence products to improve operational efficiency in various scenarios.

The Akulaku Group, including its holding company BNC, employs over 2,500 people and has operations in Indonesia, Thailand, The Philippines, and Malaysia. The group holds financial licenses including commercial banking, Multi-finance license, fintech lending, insurance, and provides users with legal and compliant financial services.

What do we bring to the world?

Provide accessible, convenient, and customized financial services to customers.

Akulaku has been working in the Southeast Asia market for more than 7 years to create a unique operational and technical solution to solve the actual pain points of users. By providing bank with digital services, digital credit, and digital wealth management, Akulaku meets the full range of its users’ financial needs. The Akulaku app, functioning as an e-commerce platform, offers differentiated consumer finance products with various interest rates and terms based on user characteristics.

These products include "BNPL" , cash loans and cash installment, e-commerce and lifestyle services. As the first and fastest-growing bank with digital services in terms of retail users in Indonesia, BNC is committed to providing a wide range of convenient digital banking services for consumers, micro and small businesses, and enterprises. OwnBank provides innovative banking solutions that allow users to enjoy seamless online transactions, secure mobile banking, and personalized financial management tools. Asetku and OneAset offer an extensive selection of investment products to retail investors.

By the end of 2022, Akulaku helped 39.9 million users to access financial services, thereby enhancing their quality of life.

Akulaku advocates for trust, exploration, and a “win-win” mindset, working with customers and partners to promote a healthy ecosystem in our industry.

We work with partners in emerging hotspots such as consumer finance, “Buy Now, Pay Later” (BNPL), and digital banking to promote the industry’s continued positive development.

03

Push the limits and achieve technological innovation.

By vigorously developing financial technolo gy, Akulaku has achieved remarkable results in product innovation, customer service, risk control, and IT architecture upgrades in recent years. Akulaku has made full use of financial technology to create an innovative and intelligent risk control system, including accurate pre-lending credit and refined post-lending management, thus improving risk management capabilities, while ensuring quick and efficient customer service.

At the same time, Akulaku actively deploys intelligent customer service, and widely applies artificial intelligence products, such as intelligent robots and intelligent quality inspection, to improve operational efficiency in various scenarios and achieve immediate response to customer needs.

Akulaku is also actively optimizing its IT infrastructure process architecture to provide more flexible and high-quality solutions to support business innovation, which not only ensures timely and flexible deployment of business change requirements, but also greatly improves resource utilization efficien cy and reduces operation and maintenance management costs.

In the future, we will continue to increase investment in key technology areas such as big data, algorithms, and artificial intelli gence to enhance technological advantage.

financial literacy of its customers and is actively engaged in consumer protection.

“The Young Generation" and "Safe With Akulaku" are some of the unique and iconic financial literacy education brands that the company promotes. The company's vision is "finance for the people" and focuses on financial literacy and financial risk prevention awareness for both business and consumer users.

Akulaku also actively contributes to the social welfare of the communities in which we operate. Akulaku Finance participated in the APPI Peduli Donation Movement initiation aimed at earthquake victims in Cianjur. Akulaku collaborated with Al-Hidayah Bukit Cimanggu City Foundation to realize the renovation process of Muslim houses of worship.

At present, Akulaku has invested more than $1 million toward public welfare in the communities we serve. Akulaku incorporates ESG/green finance guidelines into all aspects of the company's culture and daily business operations.

Akulaku is committed to fostering "peers" who contribute to the company's rapid growth, and has s built a number of benefit programs around the entire career cycle of it employees, from health protection to holistic care for employees’ wellbeing.

Akulaku is committed to "open boundaries and symbiotic growth," and has recruited talented people from all over the world.

The company has operations in Indonesia, Malaysia, Thiland, and The Philippines, providing a broader career platform for talented individuals from all over the world.

Provide employees with a healthy work/life balance and a stage for personal growth.

What do we value?

Akulaku believes in the credit potential of each customer and we are trusted because we provide inexpensive, convenient, and customized digital financial services to enhance the quality of people's lives.

Always put users first

Trust partners and customers

Explore and understand risks

Find and solve problems

Revolutionize our own lives

Stay open and inclusive

Business Highlights

Since the launch of Akulaku group's digital credit service in June 2016 through the end of 2022, a cumulative total of 23 million users have successfully obtained credit limit of Akulaku through the end of December 2022, with total loans issued of $8.2 billion.

23,000,000

BNC launched its digital services app, Neobank, in March 2021, which has acquired over 20 million account opening users in just under 2 years, establishing BNC as the leading bank with digital services brand in Indonesia. By the end of 2022, BNC had a total transaction volume of $11 billion, 131,000 partner merchants, was named one of the wrold's best banks in 2022 and 2023 by Forbes, and won several other prestigious industry awards in Indonesia.

As of the end of 2022, Akulaku current major investors include Mitsubishi UFJ Financial Group (MUFG), Ant Group, Siam Commercial Bank (SCB), Peak XV Partners, Silverhorn Group, Arbor Ventures, Eightroads, IDG, Qiming Ventures, and many other prominent investors.

Global Presence

Akulaku has offices in Indonesia, Singapore, Malaysia, The Philippines, and China. The Jakarta office is the main operations center, the Shenzhen office is the technology development center, and the Singapore office is our global headquarters.

We currently have operations in Southeast Asian countries - Indonesia, The Philippines, Malaysia, and Thailand.

Malaysia

The Philippines

Technological Strength

Akulaku's self-developed risk decision system leads the digital lending industry. It achieves millisecond-level anti-fraud and risk decisions through accurate KYC recognition and high-performance computing power. The system builds full graph risk control, user behavior analysis (UBA), and other programs for dynamic factual risk mining. This approach allows for accurate assessment of customers' risk profiles, ultimately improving the security of loan disbursement.

Machine learning algorithms allow the rationale behind decisions to be explained, increasing the transparency and credibility of decisions. Akulaku has enhanced anti-fraud capabilities that utilize big data, artificial intelligence, and the blockchain to ensure user and company safety.

Big Data and Modeling

Akulaku has extensive experience and technical strength in data management, feature engineering, model training, and deployment to provide efficient and accurate prediction and decision-making services to clients. The company employs a variety of technologies including the world's leading semi-automated modeling, dual-track models, second-order fusion models, rejection inference, derivative variable design, and machine learning to effectively solve business challenges.

These features improve customer acquisition due diligence objectivity and cost control, pre-award accuracy, fraud detection and identification, comprehensive credit stratification granularity, in-lending lookback capability, and post-lending warning effectiveness.

Akulaku has two main technical structures: microservices framework and artificial intelligence. By embracing the microservices open-source community, Akulaku is able to solve the difficulties of traditional centralized architecture, create large-scale, highly available distributed systems, and rapidly iterate business and product deployment.

In terms of technical capabilities, Akulaku has three distinctive features. First, we can realize full lifecycle management, encompassing the entire process from requirement proposal to plan implementation.

Second, we can implement one-stop big data management, covering big data development, data services, business analysis, and quality management to realize confidentiality and security in the process of data collection, transmission, storage, application, and destruction. Finally, Akulaku is committed to promoting the research and exploration of three major security technologies, namely intelligent risk control, biological core, and data security, to provide data and financial security for users through a variety of technologies.

Anti-Fraud

Credit Assessment

Information Security

Regulatory Compliance

Star products

The Akulaku app is an e-commerce-based consumer finance platform that offers users a variety of loan products at various interest rates and terms, including "Buy Now, Pay Later" (BNPL), cash loans, and e-commerce and lifestyle services.

Akulaku's e-commerce business has more than 70,000 merchant partners, with more than 100 million transaction orders in 2022.

23 Million Cumulative Users

Loan Origination in 2022

$2.8 Billion

Collaborating Merchants

70,000+

Total Bank Accounts Accumulated

20.7 Million

Collaborating Merchants

Bank Neo Commerce (BNC), formerly a 30-year-old traditional Indonesian bank acquired by Akulaku in 2019, has grown to become the fastest-growing digital bank in Indonesia.

BNC currently offers a number of products for consumers, including digital banking account opening, deposits, loans, wire transfers, and local lifestyle services. transaction accounts, and quick payments and receipts.

BNC provides transaction, business analytics and quick payments and receipts for micro and small business owners, aiming to help them develop their business and improve their transaction experience. It also provides payroll, fund management, loans, and other services for business users.

In the future, BNC will provide more refined and customized financial services for different segmented customer groups to provide users with a better digital banking experience and promote innovation in the industry.

In 2018, Akulaku launched Asetku, Indonesia's leading digital wealth management platform, to provide fixed income products to individual investors.

OwnBank is a mobile bank application in the Philippines. With fully digitalized technology infrastructure and features. OwnBank provides innovative banking solutions that allow users to enjoy seamless online transactions, secure mobile banking, and personalized financial management tools.

OwnBank has sets of wealth financial products with high saving interest rates and flexible terms that enable users to grow their wealth faster.

To serve high net worth users, Akulaku officially launched OneAset in March 2022 to focus on providing investors with robust financial products and trading services.

Qualifications and Standards Cooperation and Innovation

Akulaku's "Buy Now, Pay Later" (BNPL) product can be conveniently linked to various consumer platforms to help customers use installment services more swiftly and easily. Akulaku currently works with over 2,000 online consumer platforms/brands such as Tiktok, Lazada, Shopee, Bukalapak, Tiket, Agoda, Xiaomi, Eraspace, and Klikindomaret to provide customers with multi-scenario BNPL services.

Akulaku serves offline consumption scenarios such as convenience store chains, cell phone brands, and cinemas. Major brands include Samsung, Alfamart, OPPO, Cinema XXI, Erafone, Shell, and LotteMart.

Akulaku meets the needs of users in multiple consumption scenarios and helps partners improve GMV.

BNC's open banking services provide rich and customizable financial products and services for merchants, enterprises, and other third-party platforms such as bank accounts, corporate payroll, merchant payment collection, and corporate loans.

These services solve partners’ pain points, helping partners improve their financial competitiveness, and creating a mutually beneficial and prosperous financial ecosystem.

Important Events

Conception and planning 2015 2014

August

March Akulaku obtained the angel round of IDG Capital.

Silvrr was launched to carry out cross-border remittance business.

Establishment and breakthrough

2016-2017

2018

2019

In June 2016

Akulaku launched a virtual credit card based on mobile shopping scenarios, entering consumer finance.

In July 2017

The B round of financing was completed, and several new capital additions were added.

July

2018 The C round of financing by Peak XV Partners,Bluesky venture Capital,Qiming Venture Capital,and other institutions.

September

Indonesia's leading digital wealth management platform, Asetku, was launched.

The Beijing office was established.

November

May

Akulaku acquired Indonesian BYB Bank and invested in Philippine insurance company MICI.

It was selected as the most notable Southeast Asian company in the KrASIA reader survey.

December

December

Akulaku completed the the D round of financing and joined hands with Ant Group.

October New breakthroughs were made in team size: the domestic team exceeded 700 people, and the overseas team exceeded 2,500 people.

2020-2021

2022

2023

In March 2020

The Akulaku brand was fully upgraded, and the mascot Kula was born.

In March 2021

The BNC digital banking application neo+ was officially released and launched. In September of the same year, the brand was upgraded, and the application was renamed Neobank.

In June 2021

The 5th anniversary of Akulaku's launch, the annual e-commerce promotion data reached a record high.

February

Akulaku, cooperated with Siam Commercial Bank in Thailand to complete the E round of strategic financing.

March

OneAset was officially launched, focusing on providing individual investors with wealth management product trading services and a wealth management exchange community.

May

BNC was named one of the world's best banks by Forbes magazine.

August

The Singapore office was established.

December

Akulaku announced that it received a $200 million investment from Mitsubishi UFJ Financial Group.

June

The digital bank OwnBank officially launched in the Philippines.

Akulaku obtained two types of financial licenses in Thailand: Personal Loan and Nano-Finance.

July

Akulaku official website

https://www.akulaku.com