Mekar is awarded Best P2P Platform in Indonesia at the Global Wealth and Society Awards Indonesia 2019

• Intentionality of productive loans at affordable rates
• Technically innovative platform offering investors attractive yields
• An initiative by the Putera Sampoerna foundation to distribute wealth where it is needed most

Jakarta, 22 August 2019 – Mekar received the Best P2P Platform in Indonesia award at the Global Wealth and Society Indonesia Awards 2019. The award ceremony was held in conjunction with a roundtable dialogue on “Property Development in Indonesia: Building a Sustainable City” comprised of impact investors, architects and sustainable experts and investors, at the JW Marriott Hotel, Jakarta, Indonesia.

Standing: Members of the International Advisory Council of the Global Wealth and Society Awards programme; Urs Bolt (L) Gordian Gaeta (Second Right) and Editor Chris Georgiou (R), with COO of Mekar Pandu Aditya Kristy.

Intentionality of productive loans at affordable rates

With the intentionality of impact built into the structure of this micro-lending service – the business is designed to disburse only productive loans and not consumer loans by connecting offline and un-bankable businesses to online investors.

Operating through the Koperasi means borrowers are charged an interest rate equaling less than 2% per month. Mekar has achieved zero late re-payment to lenders and less than 0.5% in non-performing loans based on borrower and loan selection policies, including a no late repayment history and no restructuring history.

Technically innovative platform offering investors attractive yields

Mekar aims to give access to the ‘financial periphery’ of Indonesia by offering stand-alone non- bank financial institutions to sell productive loan portfolios on its online platform, thus raising external funding. Cloud-based loan administration that the Koperasi are required to use plus accounting and field officer apps create real-time access to data in addition to a unique system for compounding, reinvestments, crowdfunding and the secondary market.

Currently, lending partners have the least risk levels from “very low” to “medium” and are monitored with regular audits. Credit insurance is also provided for lending partners with risk level “medium” to “high” ensuring that online lenders can earn in excess of 12% per annum.

An initiative by the Putera Sampoerna foundation to distribute wealth where it is needed most

Finance is channeled to 50,000 micro businesses through 100 percent productive loans, with 95% of the borrowers’ made up of women businesses, 90 percent unbanked, and 70% outside Jabodetabek. This is a part of an initiative of Putera Sampoerna and his foundation which is to be registered with an OJK license in 2019 after completing ISO certification

About Global Wealth and Society

The Global Wealth and Society programme opened in London in 2018 out of the belief that wealth can be a force for good. As such we look for instances everywhere in the world where wealthy individuals, institutions and funds are targeted to make an impact in their local communities or the world at large.

Impact-minded innovative institutions that are well run should be recognised for their contribution to society through their innovative channels of wealth distribution and sustainable ecosystems. Recipients of these awards underwent a stringent and comprehensive evaluation process.

For specific details relating to awards descriptions, evaluation criteria and process, kindly visit http://www.wealthandsociety.com/theglobalwealthandsocietyawards/criteria

For all Wealth and Society Indonesia Awards 2019 photos, please visit https://www.facebook.com/315480569196199/posts/530211401056447?s=1217733620&sfns=mo

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Alfred Labiccasi
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Wealth and Society
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Email: alabiccasi@wealthandsociety.com