Jakarta, Indonesia, April 13, 2021 / PRNewswire / – Indonesia’s fintech lending industry has experienced massive growth, with a 135% year-over-year increase in the total borrower account, reaching 155 trillion rupees disbursement (Financial Services Authority / OJK, December 2020). The rise of fintech peer to peer Loans have gained a lot of momentum among end consumers, who see them as an alternative to conventional banking and payment services.
Digital credit is one of its services that is often sought after by the public. With the advancement of technology, digital credit makes it possible to apply self-service loans through cell phones with just a few clicks, without visits and queues for hours at the offices of financial institutions. Simplicity and easy access become the real advantage for fintech credit players in Indonesia to reach millions of potential customers across the country, which will ultimately drive economic growth through financial inclusion.
JULO, a pioneer in Indonesia point-to-point loan (P2P) updates its cash loan product to digital credit with a limit of up to 15 million rupees, equivalent to USD 1,000. JULY believes in responsible credit where it charges an interest rate of 0.1% per day, lower than that of other consumer credit operators who charge up to 0.8% per day. Given the 47 million people without a bank and 92 million people without a bank in Indonesia, JULY sees a great opportunity to serve these populations to use digital credit across the country.
In addition to the regular cash loan, JULY it is now equipped with several features that make it easier for the user to carry out transactions on e-commerce platforms, transfer funds, pay utility bills, purchase telephone credit and top up digital wallets. Through this digital credit card, the user can choose to install the transaction in up to 9 months. For the needy population, JULY Digital credit would significantly help the user’s cash flow, especially when it comes to high-value purchases.
JULY has been fully licensed by the OJK since May 2020 and obtained ISO 27001: 2013 data security certification as an authorized Indonesia fintech loan. With a view to boosting financial inclusion across the Indonesia, JULO offers low-cost, easy-to-access digital credit lines for people who have not had access to conventional banks. JULY encourages people to use loans wisely for activities that encourage self-development, business and meet their daily needs.
“JULO was founded in Indonesia and created for Indonesia. We continue to innovate and improve the quality of service to serve more people across the country. We hope that, with JULO digital credit, more people will experience the convenience of online credit facilities for cash loans and digital transactions, “said Adrianus Hitijahubessy, CEO and co-founder of JULO.
At the moment, JULY served more than 350,000 customers in 34 provinces Indonesia, from Aceh for Papua. Furthermore, JULY won several awards at national and international level; as Winner of the Indonesian Fintech Festival (2016), Winner of the UN Fintech Challenge (2018) and Winner of the Fintech 50 Inclusive (2019).
JULO’s Marketing Director, Mikhal Anindita, said: “JULO is committed to providing the best service to customers. In this digital age, JULO is aware of the various financial needs of users. With JULO’s digital credit innovation, we want to provide cash and non-cash credit lines that are accessible and easily accessible via smartphones. We believe that digital credit lines can be beneficial for Indonesia population when used wisely, not only for consumptive use, but also to improve the quality of life, such as education, home improvement and health. “
JULO is a digital lending company that is revolutionizing access to financial products for millions of emerging consumers in Indonesia. The company developed the first digital data-based credit underwriting and risk assessment platform to process consumer loan applications and determine its credit quality using its mobile application.
Founded in late 2016, JULO has expanded nationally. JULO is based on Jakarta and is supported by leading venture capital firms. JULO was officially licensed as an OJK circulation loan provider No KEP-16 / D.05 / 2020 in May 19, 2020.
JULO was downloaded by more than 1 million users and distributed loans to hundreds of thousands of customers. JULO won several awards, namely; Winner of the Indonesia Fintech Festival (2016), Winner of the UN Fintech Challenge (2018) and Winner of the Inclusive Fintech 50 (2019). For more information please visit https://www.julo.co.id