Here’s what you should know.

1. Chinese fintech startup Wecash enter Indonesia through joint venture

What: Beijing based fintech startup that uses big data to assess various credit-based metrics will enter Indonesia through a joint venture with two Indonesian partners, PT Kresna Usaha Kreatif and PT JAS Kapital.

Goal: To be a go-to place for SME loans. Wecash has built a tool to help the ‘missing middle’ evaluate consumer credit, co-underwrite consumer loans and detect fraud.

Why?: As Indonesia’s middle class continues to grow, the existing methods of credit checking will not scale, and a data driven approach is needed to help the underbanked apply for loans.


2. Indonesian mall integrates tech in the shopping experience

Supermal Karawaci, one of the largest mall entertainment center in Western Jakarta, has launched an interactive mobile application that would allow retailers to offer personalized content.

How? The app is integrated with Supermal Karawaci’s mobile apps and touchpoints. Using location and contextual data, retailers would be able to offer individualized content such as vouchers, special offers, event alerts and store information.

Read the rest of the story here.


3. Silicon Valley is no longer ruling the startup game

“The day of America as the single IT leader is over,” writes founding partner Takeshi Ebihara of Rebright Partners on his blog. Takeshi believes the US$37 billion pumped into Chinese startups in the first half of 2016 alone shows China is now on par with Silicon Valley.

Unicorn distribution and the amount of money spent on research and development are also shifting to Asia. “China is probably going to be the biggest winner the human race has ever seen,” explains Keith Teare, co-founder of TechCrunch.

Read the rest of the story here.

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