KakaoBank Accelerates Entry into Indonesia... Launches 'Super Bank'

Indonesia's digital bank 'Superbank,' the first overseas investment destination of KakaoBank, officially launched on the 19th.

In September last year, KakaoBank made a 10% equity investment in Superbank as part of a partnership for Southeast Asian business cooperation with 'Grab,' the largest super app in Southeast Asia.

Superbank is an Indonesian digital bank with major shareholders including 'Grab,' the largest local media company 'Emtek,' and 'Singapore Telecommunications (Singtel).' In particular, it enhanced convenience and financial accessibility for Grab customers by leveraging Grab's ecosystem. Users can open a Superbank account directly through the Grab app and link their Superbank account as a payment method for various Grab services such as Grab Food and Grab Bike.

KakaoBank is also collaborating in the innovation of Superbank's user interface (UI) and user experience (UX), as well as in the planning of products and services. In fact, adopting KakaoBank's 'Piggy Bank' idea, Superbank launched a piggy bank product called 'Celengan' that automatically saves small amounts and balances daily. It features an image of a chick growing into a chicken, reflecting the local Indonesian culture that values chickens.

KakaoBank plans to actively participate in the product and service planning and development processes of Superbank to deepen its understanding of the Southeast Asian market, accumulate business experience, and strengthen its global capabilities. It also intends to seek synergy through cooperation with Grab.

A KakaoBank official stated, "We will contribute to the development of local financial technology through KakaoBank's unique mobile financial technology capabilities and strategic partnerships based on them," adding, "We will gradually expand our business foundation, including building a global digital bank network."

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