PT Bank Amar Indonesia Tbk. is Indonesia’s first and only pure-play digital bank, originally founded in 1991 in Surabaya. Since its acquisition by Tolaram Group in 2014, the bank has undergone a major digital transformation, establishing itself as a FinTech leader in the country. By leveraging technology-driven financial products and services, Amar Bank has become a key player in financial inclusion and innovation.
Revolutionizing Microfinance with Tunaiku
In 2014, Amar Bank launched Tunaiku, Indonesia’s first fully regulated app-based microloan platform. This award-winning digital lending service provides personal loans to individuals and MSMEs, using big data analytics to process and approve loans within 24 hours. To date, the bank has disbursed over 5 trillion rupiah in loans to more than 400,000 customers, primarily for house renovations, business capital, and education.
Even during the Covid-19 pandemic, Tunaiku maintained its disbursement rates, ensuring continued financial support for individuals and small businesses. This resilience has reinforced Amar Bank’s commitment to banking for those who need, not just those who want.
Driving Financial Inclusion Through Innovation
Amar Bank took a major step forward on January 9, 2020, by launching its Initial Public Offering (IPO) on the Indonesian Stock Exchange (BEI), releasing 1.2 billion shares. The bank’s philosophy is rooted in the belief that technology must bring positive change to people’s lives.
Since 2017, the organization has won 21 industry awards, reflecting its innovative approach and commitment to customer-centric banking. A key factor in its success is its low employee turnover rate, achieved through strong retention strategies, a flexible company culture, and direct access to the Board of Directors for staff support.
Building a Future-Ready Digital Bank
As a pioneer in digital banking, Amar Bank required only minor adjustments during the Covid-19 pandemic. Recognizing the growing importance of technology in finance, the bank partnered with Google in August 2020 to launch Senyumku, Indonesia’s first cloud-based digital bank. Powered by Artificial Intelligence, Senyumku helps customers develop better savings habits and improve financial discipline.
Further strengthening its digital infrastructure, Amar Bank earned the ISO 27001 Certification in December 2020, a globally recognized standard for information security management. To ensure continuous learning and skill development, the bank also provides employees with digital training through Coursera and Udemy.
Commitment to Social Responsibility
Amar Bank is deeply invested in Corporate Social Responsibility (CSR), most notably through its collaboration with Habitat for Humanity. Their initiative, Amar Bangun Senyum, which translates to Amar Creates Smiles, aims to build 20 houses for 20 families in Babakan Madang, Sentul. This initiative aligns with the bank’s ambitious vision of bringing 200 million smiles to Indonesian faces by 2025.
Additionally, Amar Bank has been certified as one of the Best Places to Work in Indonesia by bestplacestoworkfor.org, which evaluates companies based on corporate culture, career development, employee motivation, and quality of life.
Recognition and Future Aspirations
Upon receiving the Asia Corporate Excellence and Sustainability Awards 2021, Vishal Tulsian, President Director of Amar Bank, expressed his gratitude:
“We are deeply humbled and honored for the recognition towards Amar Bank’s commitment to improving Indonesia’s financial inclusion and revolutionizing the banking experience. We built a new business model that proves it is possible to create a successful enterprise while delivering social good. However, this is not a one-person job—it is the result of a dedicated team. As we look to the future, we will remain agile and flexible in creating innovations that provide financial access and literacy to more people.”
A Responsible Approach to Microfinance
Amar Bank’s dedication to ethical microfinance is recognized industry-wide. By using FinTech to offer fair and well-managed microcredit, the bank empowers individuals with little or no access to conventional loans, allowing them to build creditworthiness without facing excessive interest rates.
“The use of FinTech in microcredit is a powerful way to help people with little or no access to conventional loan systems. Microcredit allows borrowers to prove their credit-worthiness in increments, without exorbitant finance rates. In providing a well-managed, fair channel to the people of Indonesia, PT Bank Amar has found a need and is filling it ethically and respectfully.”
