The artificial intelligence-powered fintech firm hopes to capture a slice of reach underbanked and underserved segments of the population whose needs have not been well met by traditional financial services.
Singapore fintech firm Atome is making a push into Indonesia with a new hire to head its business in the country and the integration of the country's top peer-to-peer (P2P) lending mobile app into its offering.
In a statement released on Thursday, the company said it is «committed to expanding credit scoring to the ‹credit invisible›» and will «play a vital role in helping Indonesia’s legacy and incumbent banks upgrade digital banking capabilities».
Indonesia CEO Appointed
To bolster its efforts to reach the underbanked and underserved segments of the population, Atome is integrating AI fintech lending company Kredit Pintar, which creates and provides personalized financial services through its mobile app. Since it was launched in 2017, the app has seen more than 10 million downloads in Indonesia.
Leading its efforts in Indonesia is Wawan Salum, who has been appointed CEO. Salum was previously DBS Bank's consumer banking managing director in Indonesia. Prior to that, he spent more than six years at HSBC in various roles, following stints at General Motors, Citibank and ABN Amro Bank.
Moving Into Premium Segments
Salum will focus on growing Atome’s client and partner base among banks, fintechs, e-commerce, and ridesharing segments, as well as talent acquisition, market expansion, and product development, the statement said.
«As the middle class grows in Indonesia, there will be tremendous opportunities to move our products and services upstream into more premium segments,» Salum said.
