App-Based Auto Loans

Today, applying for a car or motorcycle loan can be like playing a game on a cellular phone. Finance companies offer various apps on Google Play Store. After downloading an application, prospective customers can view a catalog and compare products and credit terms, and set installment payment options. A loan agreement is possibly just a final click away.

One frequently downloaded app is MTF Mobile from Mandiri Tunas Finance. According to the company's CEO, Ignatius Susatyo Wijoyo, each month MTF Mobile is used by 1,000 customers. As a result, Mandiri Tunas is able to extend Rp150 billion of financing per month. "This is one way to safeguard growth when markets are down," said Susatyo, interviewed at his office, two weeks ago.

October 25, 2016