Logiq Begins Next Phase of Micro-Lending Program Designed to Provide Mobile Fintech Services to 5 Million Contract and Delivery Drivers
Logiq, Inc. (OTCQX: LGIQ), a global provider of award-winning eCommerce and fintech solutions, has begun the next phase of its previously announced mobile micro-lending platform in an exclusive strategic alliance with Koperasi Mona Santoso Berjaya (KMSB).
The next phase involves the rollout of a new mobile fintech platform for 5 million contract and delivery drivers of Garda Digital Indonesia, a membership organization overseen by Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK). BPJSTK manages the pensions and health benefits for these members. The new fintech platform will make microloans available to the members for personal or business use, such as purchasing, configuring or repairing their mobile vehicles.
Under the exclusive alliance, Logiq and KMSB are developing a jointly owned and operated mobile fintech platform designed to deliver mobile financial services in Indonesia. Logiq, through its Indonesian operations, is providing the platform design and technology, management, ongoing hosting and technical support. KMSB is providing the professional and financial institutional relationships that will drive the microlending program. The partners are working together to launch a new marketing and advertising campaign that will encourage adoption and regular use of the mobile fintech offerings.
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The mobile fintech platform will eventually be introduced to BPJSTK’s 48 million members and 600,000 SMBs, as well as through affiliated organizations such as Mentalku, which supports the motor vehicle license administration, and Sehatku, a medical clinic organization network. Members will also be able to access Logiq’s PayLogiq™ e-Wallet and GoLogiq™ hyper-local food delivery mobile platforms.
Logiq and KMSB plan to complete the official launch of the new mobile fintech platform for drivers of Garda Digital Indonesia by the second quarter of 2021. Logiq plans to begin marketing subscriptions to AppLogiq in the first quarter of 2021 and sees a 30% penetration of BPJSTK’s SMB membership base by the end of the year.
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