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Bank Central Asia investing $15m in fintech

Indonesia's largest private bank joins race for unbanked market

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BCA is harnessing fintech to chase millions of 'unbanked' Indonesians from its headquarters in Jakarta.   © Reuters

Indonesia's Bank Central Asia is to invest 200 billion rupiah ($15 million) in financial technology companies in its race with domestic rivals to use startups to reach customers previously considered "unbankable."

BCA is to own 100% of a new company, Central Capital Ventura, according to a stock exchange filing on Friday. CCV wants to invest in and collaborate with fintech companies "that will support BCA's financial service ecosystem as well as that of our subsidiaries."

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