Indonesian lender Bank Fama International, backed by Grab and Singtel, has been rebranded to Super Bank Indonesia to strengthen its digital-based services. It aims to expand financial services and leverage its extensive data, tech, and network assets.
Superbank’s newly appointed president director Tigor Siahaan will lead its digital transformation, targeting the country’s underbanked segment with “flexible financial products”, the company said.
“The rebranding is an important milestone in the bank’s ongoing digital transformation journey,” Siahaan said in a statement.
The bank is controlled by the Emtek Group via PT Elang Media Visitama and PT Nusantara Berkat Agung. Grab, through A5-DB Holdings Pte Ltd, and Singtel, through Singtel Alpha Investment Pte Ltd, are stakeholders with an approximate combined shareholding of 32.5 percent.
Founded in 1993, the ownership of Bank Fama was transferred to the Emtek Group in 2021. Following that, Grab and Singtel became the shareholders to support the transformation.
Indonesia has the largest underbanked population in Southeast Asia consisting of micro, small and medium enterprises (MSMEs) and retail customers from the underbanked segment who have multiple sources of income yet are in need of loans to continue to develop their businesses.
"The MSMEs and retail customer segments are our main target markets. By increasing their financial access, we can support their productivity and drive national economic growth," Siahaan added.
Superbank is expected to reach millions of retail customers and MSMEs via the large ecosystem offered by Emtek Group, Grab and Singtel, he said.
It will utilise technology expertise, consumer insights, and experience from the two tech firms to accelerate efforts to offer digital banking services and solutions for customers, he added.
Other resources will also include millions of multi-platform media viewers and millions of all-commerce online sellers for EMTEK Group in Indonesia; millions of platform users for Grab and millions of driver, merchant and agent-partners and Singtel’s mobile customers and enterprises worldwide, he said.