Hong Kong Fintech Unicorn WeLab To Enter Increasingly Crowded Indonesian Digital Banking Market
Written by Aello ConsultingMarch 2, 2022 WeLab, a fintech unicorn startup based in Hong Kong, is planning to launch a digital bank in Indonesia in the second half of this year, following its $240 million deal to buy a controlling stake in Bank Jasa Jakarta. However, Indonesia’s digital banking market will be tough to crack, as traditional banks and tech companies have rushed into the growing market.