The Straits Times
Adoption, penetration of digital financial services to get boost as more transact online
Regional Correspondent
A customer making payment for her purchases using digital payment service GoPay in Jakarta. Indonesians have switched to digital payment methods to minimise face-to-face interactions and trips to physical banks.PHOTO: BLOOMBERG
PublishedFeb 16, 2021, 5:00 am SGT
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By Reuters Staff
2 Min Read
JAKARTA, Jan 28 (Reuters) - Standard Life Aberdeen PLC will close its asset management business in Indonesia by mid-2021 as part of a new reconfiguration of global operations, the company said on Thursday.
“The decision to exit the Indonesian market is part of the firm’s broader plan to reconfigure our global operations around our growth strategy,” a spokeswoman for Standard Life Aberdeen said in an email. “This will enable us to focus on our strategic priorities and core markets,” she said.
PT Aberdeen Standard Investments Indonesia intended to close seven locally domiciled open-ended funds and liquidate or transfer three capital protected funds that it currently managed, she said.
How New P2P Regulations Make the Industry Safer for Investors in Southeast Asia
December 10, 2020 @ 1:50 pm By Milena Naitoh
Digital lending platforms have made strong inroads in Southeast Asia over the past few years. In 2016 alone, peer-to-peer (P2P) business lending generated US$115.01 million more than half of Southeast Asia’s total alternative financing market that year.
This growth can be attributed to a combination of two factors:
A high mobile penetration rate of 133%, with some people having two phones (or SIM cards) or more
A massive funding gap, where micro, small, and medium-sized enterprises (MSMEs) have unmet financing needs amounting to US$300 billion, despite the fact that small businesses account for 40% of Southeast Asia’s gross domestic product (GDP) and 70% of the region’s workforce, according to a Deloitte report