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Indosat Wins Award For Financial Services Solution

6/03/2014 by Jeremy Hopwood


The second biggest telecoms operator in Indonesia, Indosat, has won an award for its mobile financial services solution aimed at customers who don't have ready access to bank accounts or financial services. Dompetku was named 'Best mobile financial service' at the awards in recognition of its innovative nature and excellence.

Dompetku is available for smartphones, feature phones and basic handsets and targets the 60% of Indonesia's population who are unbanked or under-banked. Launched last year, the mobile money service is already one of the most trusted and convenient financial services solutions in Indonesia, chief executive Alexander Rusli said. Dompetku provides customers with a cheap alternative to payments that are normally made through banks, as well as a number of other financial services. Indosat is a subsidiary of Qatar-listed telco Ooredoo QSC, which boasts more than a million customers of its mobile money services in Indonesia, Tunisia and Qatar.

In other news, Indosat said recently that it is planning to either divest or spin off its tower assets, as quoted by Reuters. The move, which is planned for 2015, is intended to allow Indosat to focus on its core business, Rusli said, adding that these assets were "a distraction" and not part of the core business of the company, so they had to go one way or another.

The chief executive did not offer any information as to how much Indosat will aim to get from the divestment, should it decide on it, but in 2012 Indosat sold 2,500 towers to Bersama Infrastructure, a local telecommunications tower provider, for a total of $406 million. At present Indosat has around 8,000 towers.

Justin Birch | Managing Director (APAC)


Indosat, Financial Services Technology, Award, mobile

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