amalan chosen by OJK as the only Fintech company specialized in helping borrowers reduce their debt burden

OJK introduces 12 new Fintech clusters to promote innovation in the Financial Services Sector (Regulation Number 13 / POJK.02 / 2018)

amalan is the only company in the "Online Distressed Solutions" cluster,which aims at helping borrowers reduce their debt burden

In aggregate there is an estimated US$ 20 billion of distressed overdue credit cards,KTA and mortgages in Indonesia

amalan offers a unique combination of restructuring and refinancing solutions that targets the more than 2 million Indonesian borrowers that have difficulties paying their monthly loan installments

amalan is a social enterprise that helps consumers and business owners on a success fee basis,without any upfront fees

JAKARTA,Indonesia,March 29,2019 --Indonesia's financial services authority,OJK,announced today the creation of new Fintech segments that will be regulated under Regulation Number 13 / POJK.02 / 2018. Among the 34 companies in 12 new segments,amalan stands out as the only company in the "Online Distressed Solutions" cluster. In fact,OJK created this segment specifically to reflect the uniqueness of amalan's services that focus on helping borrowers to find a way out of over-indebtedness. Using amalan's debt management programs,the debt burden can in many cases be reduced by 50% to 90%,giving the borrowers and their families a fresh start to build a better financial future.

Arne Hartmann (Founder and CEO amalan),Mr. Triyono Gani (Executive Director of IKD at OJK),Yodhi Kharismanto (Director of amalan) at the official launch ceremony for the new fintech segments at Innovation Centre for Digital Financial Technology (OJK Infinity).

Given the rapid technological progress that fuels digital financial innovation in Indonesia,OJK has introduced regulation Number 13 / POJK.02/2018 concerning Digital Financial Innovation (abbreviated as IKD). This regulation aims at improving consumer protection,financial inclusion,service levels and risk management - all of which are goals shared by amalan.

OJK has selected the leaders in each cluster who will be given a "regulatory sandbox" to then work together with OJK for the next 12 months to develop the right set of rules that will later become mandatory for all companies that are active in this space. "Our team at amalan is excited to cooperate with our counterparts at OJK to create a framework that focuses on consumer protection,efficient service and the best possible results for all parties involved with the loan restructuring," says amalan's founder andCEO,Arne Hartmann.

In the three years since its establishment in 2015,amalan has consistently introduced new and innovative solutions that offer better and faster results to more borrowers. At its core,there are three fundamental differentiators that make amalan unique in Indonesia:

amalan works FOR the borrowers to find the best possible solution in cooperation WITH their lenders.

amalan develops a customized solution for each individual,taking into account ALL loans,ALL income,and ALL assets to get out of debt faster,paying less interest and less penalties.

amalan does not ask for upfront fees and instead uses a success fee model where the borrower only needs to pay AFTER a restructuring plan has been agreed. The amount of the success fee is based on the savings generated through the restructuring.

Most of amalan's customers sign up for a Debt Management Program. This is a customized solution that uses amalan's systems and proprietary data to determine the best possible way to reduce the debt burden through various forms of loan restructuring. In many cases,this leads to a reduction of between 50-90% of the outstanding balance and/or the monthly installments.

Since 2018,amalan has partnered with CIMB Niaga and Koinworks to introduce refinancing options,where several expensive old loans are replaced with an affordable new loan. Of course,refinancing requires the approval of amalan's refinancing partners. However,due to amalan's restructuring expertise,chances of qualifying for a refinancing loan are much higher than without amalan. Currently amalan offers mortgage refinancing for homeowners and a CardCutter / CardCutter+ program,which do not require collateral.

In addition to offering better results,amalan is also constantly improving the user experience by simplifying and accelerating all processes. Borrowers can request a free consultation with one of amalan's consultants by submitting their data either through the mobile app or through the website at www.amalan.com.

Until the end of 2018,amalan has successfully settled more than 1,300 cases with an aggregate balance outstanding of 30 billion rupiah (US$ 2 million),which resulted in approximately 10 billion rupiah (US$ 700,000) savings for the borrowers. Demand for restructuring services remains strong in 2019,with inquiries per month currently representing an aggregate balance of more than 550 billion rupiah (US$ 40 million) per month,of which half are overdue already and the other half is at risk of default.

"We thank OJK for their trust in amalan. We share OJK's goals,especially with regards to improving consumer protection in the financial services sector. We are ready to contribute to the progress,innovation and security of the financial services sector in Indonesia," says Arne Hartmann,founder andCEO of amalan.

Given the company's size today and its current growth rate,amalan is expected to continue as Indonesia's leading debt management company,and is currently preparing itsexpansion to Malaysia and other ASEAN countries.

About

amalan internationalis the first technology-enabled debt management company in Indonesia that is under the supervision of OJK. amalan works for the borrowers to find the most affordable loan restructuring solutions in cooperation with their lenders. amalan's debt management programs use technology and proprietary data to get borrowers out of debt faster,paying less penalties and less interest. In addition to debt management programs,amalan also offers refinancing options to replace expensive old loans with an affordable new loan. amalan's Indonesian office was established in Jakarta in 2015 and has built a team of restructuring and IT experts with decades of relevant experience. In July 2016,amalan was the first company in Asia to get accreditation from the International Association of Professional Debt Arbitrators (IAPDA).

Please visit our website at https://www.amalan.com/id/press-kit for further press materials,including success stories of amalan customers,fact sheet and company profile.

Media contact:

Arne Hartmann

Tel: +65 94554175

Email: arne@amalan.com

Photo - https://photos.prnasia.com/prnh/20190329/2418514-1