Atome

Thank you The Straits Times and Khieng Yuit Chor Yuit for covering BNPL from the merchant perspective - the other side of the #BNPL equation, and for taking the time to understand the underlying business model. The article shared many insights, especially critical during Covid years when many retailers (large brands as well as millions of SMEs) and industries (eg travel, hospitality, F&B, fitness) were struggling to stay afloat. And going forward, how BNPL continues to support #economicactivity and is a crucial enabler for growing brands and businesses of all sizes. A few quick points raised in the article: 🏠 🧾 The #BNPL appeal to GenZs and millennials: this group are young professionals who are going through many life "firsts" (eg first job, first house, first child) who value #paymentflexibility and the ability to manage cashflow while still being able to prioritize "experiences" and not missing out 💵 🛠️ we underwrite every single customer transaction via a sophisticated, robust #underwriting engine which has been painstakingly built over time (and continually improves). Unlike credit cards, which allow rollover balances to snowball and charge compounded late fees, the #uniteconomics for BNPL only makes sense when BNPL customers pay on time, every time and spend within their means. ⚙️💡 With #generativeAI, the ability to synthesize customer behaviour data and preferences to deliver highly relevant, highly tailored products and services for businesses is incredibly exciting. This could propel the next wave of innovation for #financialservices.

Healthy body, healthy minds! 🏃♂️🏃♀️ Last month, Atome #Indonesia took part in the Asosiasi Perusahaan Pembiayaan Indonesia Sports Day in Jakarta. Our collaboration with APPI aims to strengthen relationships and collaboration among industry stakeholders, while supporting sports activities & healthy, active lifestyles. Attended by 1,700 employees representing 70+ companies from banks, non banks and multi-finance companies, it was a fun day out for all! #APPISportsDay #fitness #activelifestyle #Indonesia

With credit card penetration still in the low single digits and majority of Filipino underbanked population still lacking access to affordable credit, there is a sizeable and unmet credit crunch need in the Philippines. That's why we are seeing very health organic adoption of the #Atome #PaylaterAnywhereCard, with ~20% month-on-month growth in new cardholders and high daily activity and stickiness when it comes to paying for utility and phone bills, groceries and ecommerce purchases. So, the key is how to provide affordable credit but in a careful, risk-managed and fiscally prudent way, from both a consumer and lender’s perspective, and also continuing to invest in #financialliteracy and #education on #responsiblespending. Thank you BusinessWorld Publishing Corporation for the coverage and opportunity to share our views. #financialinclusion #innovation #riskmanagement #credit #AtomeCardPH

Honoured to be listed in CNBC's World Top 250 Fintech Companies 2024! #Atome is named alongside 12 other #fintechs from Southeast Asia, and we're proud and humbled to be recognised (and represent #Singapore!) in the global list. Produced by CNBC in collaboration with market research firm Statista, the list highlights the world’s top 250 fintech companies across #payments, #wealthtech, #businessprocess solutions, #neobanking, #alternativefinance, #financialplanning, #digitalassets and #banking. Atome is included under the #payments category, alongside global platforms Adyen, Alipay and Block. For more: https://lnkd.in/gnZS4CbD CNBC Top 250 Fintech list here: https://lnkd.in/gS3UiqcW

In latest industry stats released by Bank Negara Malaysia, Ministry of Finance and Securities Commission Malaysia, the #BNPL industry continues to show healthy, sustainable growth in #Malaysia. Key highlights: 📈 3.7 million active BNPL account holders, ~60% growth YoY. Majority of account holders are working adults between 21-45 yo 🛍️ 700,000 merchants accepting BNPL, with strong presence in retail, transportation and F&B. Most merchants also operate online, but physical and in-store merchants accepting BNPL is also increasing, reaching 12% 🛒 +107% YoY growth in BNPL transaction volume, and +84% YoY growth in transaction value. 💳📈 Most BNPL users utilise less than 40% of their credit limits (except those with credit limit <500RM) 🏠 BNPL accounted for 0.07% of total household debt at end of 2023 (as compared to credit cards which is ~5%). Number of account holders with overdue payments fell from 5.8% to 3.8% YoY. More here: https://lnkd.in/gH7eR4Kk #data #BNPL #credit #payments #responsiblelending #digitaleconomy

The #Philippines is a key focus market for us in our mission to improve #financialinclusion and access to mobile-first financial services in Southeast Asia. 🇵🇭 In the Philippines, we have a growing #AtomeCard (PayLater Anywhere) cardholder base, with very healthy organic adoption, as well as a healthy lending business and growing loan book. 💳 📈 With our PayLater Anywhere Card, our Philippine users can pay using the card anywhere a MasterCard is accepted. This includes ecommerce platforms, supermarkets, telco and utility bills and even when travelling overseas. 💰 We also plan to launch #savings and #embeddedinsurance in the Philippines soon. Stay tuned!

Delighted to announce Atome Financial, which includes our Atome #buynowpaylater and Kredit Pintar, our digital lending platform in Indonesia, has secured a secured a three-year term loan facility from EvolutionX Debt Capital. We are concurrently working with a syndicate of investors to fully utilise the accordion feature of the facility which can increase the total amount to up to US$100 million. 💰✨ Having reached profitability in Q1 this year, the new facility will supercharge expansion our profitable regional credit portfolio and support the  launch of new products such as #savings, #lending, #insurance, and #AtomeCard (Pay Later Anywhere) in markets including #Singapore, #Malaysia, the #Philippines, and #Indonesia. 🚀🚀 Rahul Shah, Partner at EvolutionX, said "We have been impressed by Atome Financial’s management team and support from long-term investors and partners, underpinned by strong focus on #riskmanagement and operational efficiency, which has resulted in sustainable and profitable business growth. The launch of innovative and fit-for-market solutions like the #AtomeCard (PayLater Anywhere) and lending products demonstrates their ability to expand offerings while leveraging local market expertise. This is our first fintech investment in Southeast Asia, and we’re excited to support Atome Financial in their ongoing journey to improve #financialinclusion and access to mobile-first #financialservices in large under-served markets in Southeast Asia.”

Grateful to MoEngage for recognising #AtomeMalaysia with the #CustomerEngagementExcellence award at the recent #GrowthMixer2024 event in Kuala Lumpur. During the event, our General Manager for Atome Malaysia Daphne Lourdes was invited to share how #personalisation has been key to our customer engagement strategy and improving #brand stickiness. Congratulations to fellow winners CTOS Telekom Malaysia CARSOME iMoney Group and redONE Mobile MY as well as panel moderator Arijeet Rana for the opportunity. #AtomeMalaysia #customerengagement #brand

Atome Indonesia recently held a financial literacy workshop on #digitalsecurity and personal #dataprotection in the financial services industry at the Universitas Multimedia Nusantara in Indonesia. Pak Syahraki Syahrir (Raki) , President Information Systems Audit and Control Association or ISACA Indonesia Chapter which is also a member of the Audit Committee of PT Atome Finance Indonesia, shared insights on the benefits and risks of the use of financing products and importance of digital security and personal data protection in the lively, interactive session attended by 110+ university students. #AtomeIndonesia also shared how it prioritised #digitalsecurity and importance of #confidentiality and customer #datasecurity, as well as internship opportunities with students majoring in Information Technology. #financialliteracy #dataprotection #datasecurity #workshop #education

Very excited to announce that Atome's #BNPL payment option is now available on #TaobaoSingapore! With an extensive range of over 2 billion products available on Taobao, #crossbordershopping for Taobao shoppers in #Singapore is now more convenient and accessible. Shoppers in Singapore on the Taobao mobile app first need to have an existing Atome account and add Atome to the checkout payment option on the Taobao app. Jean Zhao, Taobao Singapore Country Manager, said, "#Singapore is a  key market for us, and we are dedicated to delivering localised solutions that make the  experience of shopping on Taobao and Tmall akin to that of local shopping.  Adding Atome’s popular BNPL payment option to our range of existing options will offer greater choice, flexibility and convenience to our valued customers and elevate their shopping experience.” "We’re excited to team up with Taobao Singapore to introduce BNPL payment options to their users. Together, we aim to provide consumers with a more convenient and flexible shopping and payment experience, while also supporting Taobao Singapore's merchant community. This enables a more seamless cross-border shopping experience and supports regional ecommerce to thrive and grow," said Bryan Quek, General Manager, Atome Singapore. Full story here: https://lnkd.in/gY3EPHF8 #ecommerce #crossbordershopping #partnership #BNPL #Atome #Taobao