Commonwealth Bank Indonesia Introduces Comprehensive Digital Solutions for Indonesian SME

Jakarta, 31 March 2015 – Commonwealth Bank Indonesia, a subsidiary of Commonwealth Bank of Australia (CBA) Group, today officially introduced  BizLoan, a smart mobile application  to simplify and ease access to non collateral loan application for SME entrepreneurs.  BizLoan offers up to IDR 500 million loan with interest as low as 1.30 percent per month with maximum tenure of three years without any initial outlays. The smart application, BizLoan, is now available for free on Google Play and AppStore.

BizLoan enables users to apply for a loan simply by uploading supporting documents directly via the smart phone without having to submit copies of the documents to the Bank.  Commonwealth Bank will contact users on loan application status after confirmation of their application through BizLoan. BizLoan users can also simulate a loan with regards to amount, tenure, monthly installments as well as review terms and conditions of their loan.

Tony Costa, President Director, Commonwealth Bank Indonesia said, “BizLoan demonstrates our commitment to provide comprehensive digital solution for SMEs in Indonesia, as we are one of only a few international banks that focuses on SME sector in Indonesia. Moving forward, we will continue to facilitate and help our customers in growing and running their business, suited with their needs and technology advancement.”

Furthermore, Donny Prasetya, Executive Vice President, Head of e-Channel & Digital Business, Commonwealth Bank Indonesia added, “With Bizzloan, business owners do not need to allocate some time to come to the bank and apply for a loan. They can simply download the apps and all loan requirements can be submitted through/via smart phone. Bizzloan is one of our initiatives to ease access for SME entrepreneurs to working capital or investment quickly and easily”.

“In November 2014, Commonwealth Bank Indonesia launched Cashflow, a mobile application for small business owners to help record and manage their business transaction flow with additional free interbank transfer fee as one of its benefit. To date, Cashflow users has reached 25,000 people. Commonwealth Bank will continue to develop digital innovation tailored to the needs and growth of SME businesses in Indonesia.” Donny concluded.




About Commonwealth Bank Indonesia

Commonwealth Bank (PT Bank Commonwealth) is a subsidiary company of Commonwealth Bank of Australia (CBA) in Indonesia, the biggest public financial institution in Australia, which has been established in Indonesia since 1997. With more than 2,300 professionals in banking, Commonwealth Bank Indonesia today is serving the customers through 91 branches and offices in 32 cities in Indonesia, including Sumatera, Java, Kalimantan, Bali, and Sulawesi.

Commonwealth Bank Indonesia offers a captivate varieties of banking products, such as saving, deposit, various investment products and bancassurance, working capital credit for Small and Medium Enterprises (SME) and corporate, Safe Deposit Box (SDB), 24-hours Call Centre, as well as Internet Banking for corporation and individual with special features that offers flexibilities for customers to set transaction date, standing order feature, and mutual funds purchase with special discount.

Commonwealth Bank Indonesia ATM Card has been equipped with bill payment and purchasing features also access to the BCA/Prima and Bersama network providing customers with greater flexibility, access and convenience. Commonwealth Bank Indonesia’s customers can now enjoy the comfort of shopping in more than 250,000 merchants through BCA Debit/Prima and Maestro network and transact freely through more than 70,000 ATM’s network including Commonwealth Bank ATM, ATM Bersama and ATM Prima/BCA in Indonesia.

Commonwealth Bank Indonesia has launched mobile banking application with breakthrough technological, investment and security features which provides anytime, anywhere control over financial transactions. The mobile banking application has several features such as fund transfer, the ability to buy and sell foreign currency at real-time rates and allows customers to subscribe and monitor their mutual fund portfolio via smartphone. Commonwealth Bank Indonesia mobile banking application has been awarded by The Indonesian Record Museum (MURI) as the first mobile banking application with an investment features.

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