PT Bank Amar Indonesia Tbk


Innovative Tech Companies of the Year

PT Bank Amar Indonesia Tbk

Innovative Tech Companies of the Year


about PT Bank Amar Indonesia Tbk

Technology company with banking license.

Technology must improve lives. 

PT Bank Amar Indonesia Tbk., Indonesia’s first and only pure-play digital bank was founded in1991 in Surabaya. An industry pioneer in the emerging field of Financial Technology or FinTech, the bank provides technology-driven financial products and services, having undergone a significant digital transformation since its acquisition by Tolaram Group in 2014 to become one of the country’s FinTech forerunners.

Tunaiku, launched in 2014, is Indonesia’s first fully regulated app-based microloan platform, and continues to remain the flagship product of Amar Bank. The award-winning digital lending platform provides personal loans to individuals and MSMEs ( Micro, Small and Medium Enterprises ) that are processed and approved within 24 hours by leveraging big data analytics.

The bank has disbursed loans to more than 400,000 Tunaiku customers across Indonesia, the vast majority of whom seek loans for house renovation, business capital and education. The organization’s total disbursement exceeds more than 5 trillion rupiah. During the Covid-19 pandemic, Tunaiku continued to maintain its disbursement rates, and continued to help individuals and small businesses.

The bank officially launched at the Indonesian Stock Exchange (BEI) on January 9 2020 by releasing 1.2 billion shares through an initial public offering. The technology company declares that its mission statement is to provide banking to those who ‘need’ and not only to those who ‘want’. 

Upholding a philosophy that technology must bring positive impact and change people’s lives for the better, PT Bank Amar hopes to reach more customers, and to widen their access to financial services.

The organization, which has earned a whopping 21 awards since 2017, prides itself on a relatively low turnaround rate in the industry, firmly believing in proper retention strategies such as the establishment of a company culture where innovation and flexibility are fostered and maintained. Self-functioning team work is also encouraged and staff can directly consult with the Board of Directors whenever they encounter difficulties.

The bank, which has been implementing digitization from the outset, had only had to make minor adjustments during the Covid 19 pandemic, and sees huge opportunities ahead for digital banking. In August 2020, with technology at the centre of people’s financial wellbeing, Amar Bank in partnership with Google launched Senyumku, Indonesia’s first digital bank launched on Cloud. Senyumku, equipped with Artificial Intelligence, intelligently encourages better savings habits while augmenting discipline for better control of personal finances. 

In December 2020, Bank Amar became one of the few companies to secure the globally recognized ISO 27001 Certification. This International Standard adopts a process approach for establishing, implementing, operating, monitoring, reviewing, maintaining and enhancing information security in enterprises. The company remains focused on both the personal and technical development of its employees. In order to optimize the full potential of its employees, the bank offers digital skills and knowledge through the online platform Coursera & Udemy.

Bank Amar is also firmly committed to several Corporate Social Responsibility (CSR) initiatives, one of which is its collaboration with Habitat for Humanity, an international, non-profit organization. Their joint CSR endeavor has been named “Amar Bangun Senyum” which translates in English as “Amar Creates Smiles,” in keeping with the bank’s lofty vision to bring smiles to two hundred million faces in Indonesia by 2025. The initiative entails the building of twenty houses for twenty families in the Babakan Madang sub-district of Sentul.

Bank Amar has also been certified as one of the Best Places To Work For In Indonesia by  which tracks and measures employee satisfaction in key areas such as corporate culture, workplace, HR management, career development, quality of life and motivation. 

Vishal Tulsian, President Director of Amar Bank, hopes that winning the Asia Corporate Excellence and Sustainability Awards 2021 will help it gain further trust from the Indonesian people, and its peers in the industry. Upon receiving the award, he said, “We are deeply humbled and honored for the recognition towards Amar Bank’s commitment to improve Indonesian’s financial inclusion and revolutionize the banking experience. We started this journey back in 2014 with a belief that technology must improve lives and we built a new business model and this award validates that it is possible to build a successful business model while doing some social good. Though as any award as any validation this makes you very good, what it is more important to recognize is that it is not a one-person job, this is a job of a whole team. So as a representative of the team, I would like to express my gratitude to the whole Amarites for the inspiring ideas and exceptional breakthroughs brought to the table each day. As we look to the future, we will remain agile and flexible in creating innovations to provide financial access and literacy to more people that align with our vision of bringing 200 million smiles to Indonesian faces by 2025.”

“The use of FinTech in microcredit is a powerful way to help people with little or no access to conventional loan systems. Microcredit allows borrowers to prove their credit-worthiness in increments, without exorbitant finance rates. In providing a well-managed, fair channel to the people of Indonesia, PT Bank Amar has found a need, and is filling it ethically and respectfully.”

Shanggari Balakrishnan, Chief Executive Officer, MORS Group

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