Entering the middle of 2022 as well its third year of operating, PT Fintek Karya Nusantara (LinkAja) successfully held the Annual General Meeting of Shareholders (AGMS) on Tuesday (21/6). The results of this AGMS included the approval of the appointment of the new Board of Directors who will lead the company in the future, as well as reinforcing LinkAja's new business strategy which will focus on a two-sided business model, which is not only providing financial solution services for consumers in Indonesia, but also provides end-to-end financial solutions for both digital and traditional supply chains, especially those in the SOE ecosystem. With this business model strategy, LinkAja is optimistic that it will achieve optimal business growth acceleration and provide maximum benefits for shareholders and the Indonesian people.
LinkAja first arrived in 2019 through the synergy of ten state-owned companies that together want to encourage financial inclusion and encourage national economic growth. In its third year, in addition to continuing to develop digital financial services for Indonesian consumers, LinkAja sees an opportunity to sharpen its strategy and strengthen its steps in building comprehensive digital financial solutions for the ecosystem of SOEs in Indonesia.
This will be realized by making LinkAja an end-to-end digital financial solution for supply chains under the SOEs, through payment services, loans and other digital services. This step is believed to have a more significant impact in accelerating Indonesia's financial inclusion and uniting the various potentials that exist in Indonesia's vast SOE ecosystem.
To carry out this new focus and direction, the shareholders of PT Fintek Karya Nusantara at the AGMS have also decided on a new Board of Directors for LinkAja who will officially take office on June 21, 2022, namely:
As the new leader appointed through the AGMS, Yogi Rizkian Bahar conveyed his vision for LinkAja in the future, “LinkAja is the only digital finance company that has significant potential to target and support the Indonesian SOE ecosystem through comprehensive digital financial services. With the new business direction that is more focused and in building business fundamentals, we believe that LinkAja will grow more rapidly and optimally, and make a positive contribution to the process of accelerating financial inclusion in Indonesia.”
Since the beginning of its operation, LinkAja has facilitated programs run by the government, including as a medium for distributing salaries and incentives for BUMN employees, and distributing government aid funds such as the Pre-Employment Card incentive fund which covers 33 provinces and 514 regencies/cities.
In 2021 LinkAja has also received approval as an e-wallet from Bank Indonesia to be able to continue to develop more financial services, as well as an e-retailer license from the Ministry of Investment or the Investment Coordinating Board (BKPM) which allows the company not only as a payment service provider but also as an e-retailer license that can also continue to expand its business.
In addition, LinkAja has also received national and international awards, including 15 awards from Bank Indonesia, the Best PJSP QRIS and 9 awards at the Contact Center World Awards 2021. In the future, LinkAja will continue to move rapidly in observing, facilitating, and advancing the various potentials that exist for the more rapid and optimal progress of the Indonesian economy.
Supporting micro and ultra micro businesses, LinkAja has been used as an official payment tool by phone credit sellers on the DigiPOS platform throughout Indonesia. In addition, more than 9,500 grocery store/stall sellers under Sampoerna Retail Community have used LinkAja as a payment tool that connects businesses from shop owners to buyers. Another line of business that LinkAja is developing is capital lending services, as a result of its acquisition of the iGrow P2P lending service at the end of April 2021. Started as a funding business for farmers in Indonesia, now the service is dubbed Modalin.
This service will focus more on providing funding assistance for various businesses under SOE and in partnership with LinkAja. In addition, LinkAja is also developing its network to strengthen its position as a supplier of digital goods for both the SOE ecosystem and other digital ecosystems. In addition to the SOE ecosystem, LinkAja also collaborates strategically with various parties, for example with Grab and Gojek (through its affiliates), which are also LinkAja shareholders.