FinVolution Subsidiary AdaKami Enters into Strategic Funding Agreement with PT Super Bank, Indonesia

Core Insights - FinVolution Group's Indonesian financial application, AdaKami, has secured a strategic funding agreement with PT Super Bank Indonesia, amounting to 500.0 billion Rupiah (approximately US$32.0 million) [2][3] - This funding arrangement signifies AdaKami's successful transition to serving higher-quality borrowers, enhancing its reputation and diversifying funding sources [2][3] - The collaboration with Superbank is part of AdaKami's strategy to promote financial inclusion while expanding its customer base in Indonesia [3] Company Overview - FinVolution Group is a leading fintech platform established in 2007, recognized for connecting young borrowers with financial institutions [4] - The company has over 191.3 million cumulative registered users across China, Indonesia, and the Philippines as of June 30, 2024 [4] - FinVolution specializes in credit risk assessment, fraud detection, big data, and artificial intelligence, providing a highly automated loan transaction process [4] Partner Overview - PT Super Bank Indonesia, formerly PT Bank Fama International, has over 2 million customers as of October 2024 and focuses on digital services [5] - The bank aims to expand credit access for retail customers and MSMEs, leveraging collaborations within a large ecosystem [5] - Superbank is committed to security, evidenced by its ISO 27001 certification, ensuring adherence to international information security standards [5]