THE BUSINESS OF FINTECH

AT ITS CORE, FINTECH SOLUTIONS MUST EMPOWER, UPLIFT, AND IMPROVE COMMUNITIES. WE SPEAK TO THREE BUSINESS LEADERS CHARTING THE WAY.

- ZAT ASTHA

KELVIN TAN / CEO, AUDAX

"WE AIM TO MAKE THE FINANCIAL WORLD MORE FAIR AND INCLUSIVE, ENSURING THAT EVERYONE CAN BENEFIT FROM DIGITAL BANKING." 

This is how Kelvin Tan, CEO of audax, sees digital banking as a way to reduce economic inequalities.

How do you explain your role at audax to a new acquaintance?

Pushing frontiers in banking digitalisation.

Do you think digital banking and fintech innovations like those offered by audax have the potential to equalise economic inequalities in society?

Digital banking offers a big opportunity to reduce economic inequalities by making banking services available to more people. In Southeast Asia, where about 70 per cent of adults are underbanked, audax is working to change this. We are helping banks we work with to introduce new ways of doing business. This includes reaching out to large groups of consumers and businesses to provide them with financial services.

Notably, audax’s technology helped start “BukaTabungan”, a digital banking service, by partnering with Standard Chartered Indonesia and Bukalapak. This project significantly improved access to banking services for many Indonesians. Thanks to the common use of mobile phones and social media in Indonesia, audax enabled Bukalapak’s network of over 150 million users and 20 million business owners to access digital banking. This also provided users with better information for decisionmaking, marking a major move towards greater financial inclusion.