BC Card Acquires Indonesian IT Developer... Accelerating Overseas Expansion

Acquires 67% Stake in 'Cranium,' Handling IT Development for Indonesia's Largest Bank and Telecom Company

[Asia Economy Reporter Yu Je-hoon] BC Card is accelerating its entry into the global market, including Southeast Asia, by acquiring an Indonesia-based specialized IT development company.

On the morning of the 12th, BC Card announced that it signed a contract to acquire a 67% stake in Cranium (PT. Cranium Royal Aditama) at its headquarters in Euljiro, Jung-gu, Seoul, with President Choi Won-seok and others in attendance. Cranium is a specialized IT development company whose main clients include Indonesia's largest bank, Bank Mandiri, and the largest state-owned telecommunications company, Telkom.

Considering Cranium's track record, BC Card plans to have it directly carry out global financial system development projects locally, which were previously conducted in Korea. In particular, based on its stable experience in operating and maintaining Bank Mandiri's card payment system, BC Card expects synergy effects when building next-generation systems in the future.

With this acquisition of a local IT development company, BC Card explained that amid the severe global shortage of IT development personnel, it will be able to execute projects in a timely manner, respond quickly to the needs of local companies, and benefit from reduced development costs due to lower labor costs compared to Korea.

To this end, BC Card plans to rapidly expand Cranium's capabilities and scale. Through continuous technology transfer between the two companies and collaboration with the University of Indonesia, they aim to secure excellent IT talent and strengthen Cranium's competitiveness. President Choi said, "In the future, we will make global IT services through Cranium a new area of overseas business and an important momentum for BC Card's growth."

Meanwhile, BC Card is focusing on expanding its business, such as cross-country payment networks (N2N), mainly in the Southeast Asian region. In May, it was exclusively selected as the 'overseas QR payment partner' for Indonesia's government-led digital payment national project, and last year, it acquired Wirecard's Vietnam branch.

This content was produced with the assistance of AI translation services.