How digibanks and online lenders coexist in Indonesia amid blurred lines

Check out our top articles for the week [Read from your browser]( Top Stories of The Week Hello {NAME} I grew up in a humble neighborhood where loan sharks roaming the streets was a daily sight. One day, while I was playing at a friend's house, a middle-aged man stormed in and started yelling at my friend's mother, telling her that if she didn't pay her dues, he would run out of business. I used to think that the man’s demand was pointless: Why should customers care about his business continuity? But now I understand better where he was coming from because I’ve learned that traditional lenders rely heavily on their own pockets to keep the ball rolling. Facing the same challenge today, digital lending platforms are seeking external boosts. In the past year, a few Indonesian online lenders have lengthened their money pipes through mutually beneficial relationships with digital banks, which have the privilege of bank credits. However, it doesn’t mean that online lenders can’t thrive on their own. In [my recent article]( you’ll find out how online lenders and digital banks serve different segments. Subprime customers like my friend’s mother will be the niche that online lenders have higher interest in. -- [Budi Sutrisno]( journalist at Tech in Asia --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [As digibanks rise, will Indonesia’s online lenders become obsolete?]( The lines between online lenders and digibanks are blurring, but there are signs that coexistence is possible. 2. [Alibaba U-turns on Jack Ma’s prophecy]( The Chinese tech titan ramps up its direct retailing initiative in competition with JD.com as its marketplace business becomes saturated and market competition intensifies. 3. [Bukalapak’s financial performance in 8 charts]( We analyze the financial figures reported by Bukalapak, Indonesia's first unicorn to go public. 4. [Behind Ajaib’s $100m push to become a digital bank]( The investment platform’s move into digital banking signals its ambition to become a financial super app. 5. [Lazada eyes Europe in first expansion beyond SEA]( The potential move could counter heightened competition in Southeast Asia and mitigate the Ukraine-Russia war's impact on Alibaba's international ecommerce business. 6. [Malaysia bans Dickheads NFT]( The ban, a first from the country’s regulator, has sparked censorship concerns from NFT enthusiasts. 7. [After IreneDAO: a world made for superfans]( IreneDAO showed how to turn superfans into investors. Now the startup behind NFT collection wants to replicate that success through its own platform. 8. [Should crypto startups ditch ESOPs?]( NFTs and tokens outshine employee stock ownership plan in some ways, but they bring a host of problems that are as yet unresolved. 9. [Indian edtech yet to open up to tech for the disabled]( The country’s edtech space is set to be worth US$30 billion within the next decade, but has this meteoric growth been inclusive enough? 10. [Hmlet merger not due to need for cash, says CEO]( The Singapore-based flexible living startup’s backers have now invested in Habyt Group's ongoing US$50 million series C fundraise. --------------------------------------------------------------- EVENTS HAPPENING You can check out a curated list of trending tech events [over here](. - *Event* Tech in Asia’s [Product Development Conference]( on June 8th-9th We are inviting over 20 leaders in successful startups and multinational companies to discuss the strategies needed to build winning products. Don't miss your chance to learn from experts with over *50* years of combined experience on how to supercharge the growth of your product in a competitive market. Get your tickets [here!]( P.S.: Tech in Asia Core subscriber? Join the event for free! 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