BRI Agro partners with Payfazz to offer digital banking solutions

Payfazz agents can now offer Pinang’s savings, lending solutions to their 10 million customers.

PT. Bank Rakyat Indonesia Agroniaga Tbk, or BRI Agro, has inked a deal with agent-based fintech company Payfazz to offer its digital savings and lending solutions to Payfazz’s agents.

Payfazz’s more than 250,000 agents can now access BRI Agro’s digital savings and lending solutions through the bank’s digital lending app Pinang. In turn, agents will be able to relay the same offerings to their 10 million monthly active customers across rural Indonesia.

The partnership will reportedly accelerate BRI Agro’s plan to go beyond agriculture-focused lending and become Indonesia’s top digital bank. As a proper neobank, BRI Agro aims to serve as the nation’s official house of fintech and home of the local gig and services economy.

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The tie-up with Payfazz is one of BRI Agro’s several partnerships with fintech brands. In 2020, BRI Agro’s fintech partnerships resulted in $14.8m (IDR215b) worth of loans disbursed across third-party apps.