Yiren and AG Network join forces to provide AI finance in Indonesia

PT. Pinjaman Kemakmuran Rakyat (klikUMKM) and PT. Artha Digital Investama, members of Artha Graha Network (together AG Network), have formed a strategic joint venture with Yiren Digital Ltd., an artificial intelligence (AI)-powered platform offering financial and lifestyle services in China, to provide AI-driven financial solutions throughout Indonesia.

In a statement, Yiren Digital said that the collaboration brings together AG Network's extensive local market knowledge and Yiren Digital's state-of-the-art financial technology expertise to create innovative digital solutions that fulfill the increasing demand for inclusive finance and easily accessible financial services in the largest economy in Southeast Asia.

Yiren Digital's AI-driven capabilities and unique technologies, such as sophisticated risk management algorithms, automated customer support platforms, and data-driven marketing solutions, will be included into the joint venture's operations as part of the partnership.

The platform will be able to scale effectively and provide safe, client-focused financial services that are suited to the Indonesian market thanks to the technology underpinnings. Additionally, the JV will benefit from AG Network's extensive local market presence and regulatory experience, which includes a sophisticated grasp of domestic market dynamics and adherence to local regulatory standards.

It is anticipated that AG Network's assistance will speed up regulatory clearances and guarantee the joint venture's quick market debut. It is expected that the joint venture will start operations in the second half of 2025.

In order to support AG Network's larger digital transformation objectives throughout its varied business portfolio, the alliance intends to investigate other technology collaborations beyond the joint venture.