As a World Economic Forum partner, Southeast Asia’s leading digital financial services company continues to accelerate access to underserved populations in the region
Jakarta, May 11, 2022 – Kredivo, the leading digital credit platform for retail customers in Southeast Asia, announced their commitment to the EDISON Alliance’s 1 Billion Lives Challenge, pledging to provide access to digital financial services to up to 20 million people in Indonesia, as well as Vietnam, Thailand and the Philippines over the next 5 years. As a member of the World Economic Forum, Kredivo joins the ranks with leading global companies at the forefront of developing solutions to some of the world’s most pressing issues. Through the 1 Billion Lives Challenge, Kredivo is helping to accelerate the delivery of digital and financial services for underserved and underbanked populations, particularly those focused in Southeast Asia, where nearly two-thirds of the population is either underbanked or completely unbanked.
“With more than a third of the world still offline, much work is still needed to ensure that everyone can participate in the digital economy – through affordable access to digital solutions and innovative financial services,” said Lisa Meng, Programme Head, Digital Inclusion, the EDISON Alliance. “With Kredivo’s track record of positively serving underbanked and underserved communities, having their support is an important step in advancing digital inclusion in Southeast Asia.”
The EDISON Alliance is a global movement of almost 50 Champions from the public and private sector who are committed to prioritizing digital inclusion. Board members include Hans Vestberg, Chairman and CEO, Verizon, Michael Miebach, CEO, Mastercard, Robert F. Smith, Founder, Chairman and CEO, Vista Equity and more. The key vision of the Alliance is to improve one billion lives globally through affordable and accessible digital solutions across health, finance and education by 2025.
“Over the past two years, we’ve seen a dramatic uptick in the digitization of our economies and societies. At the same time, we’ve also exacerbated existing gaps and inequalities for the 2.9 billion people in the world without access to digital resources,” said Akshay Garg, Group CEO of FinAccel, the parent of Kredivo. “Financial services are crucial for laying the groundwork to a better and more productive life, and this partnership with the EDISON Alliance puts us one step closer to providing access to financial services that impact and make the lives of tens of millions better.”
Kredivo is the leading digital credit platform in Indonesia that gives customers instant credit financing for ecommerce and offline purchases, and personal loans, based on real-time decisioning. Kredivo users can buy now and pay later with one of the lowest interest rates amongst digital credit providers in the country. Kredivo’s merchant partners benefit from instant point-of-sale financing, powered by its unique 2-click checkout. Kredivo is operated by FinAccel, a Singapore headquartered financial technology company, with a mission to make financial services fast, affordable and accessible. FinAccel is backed by leading investors such as Victory Park Capital, Mirae Asset, Naver, Square Peg Capital, Telkom Indonesia and Jungle Ventures, among others. Kredivo is supervised by OJK’s multi-finance division in Indonesia. To know more about FinAccel and Kredivo, visit www.finaccel.co and www.kredivo.com.