NEW YORK, November 04, 2021 (GLOBE NEWSWIRE) – Logiq, Inc. (OTCQX: LGIQ, NEO: LGIQ), a global provider of award-winning customer acquisition solutions, has partnered with Jakarta – PT Bank Pembiayaan Rakyat Syariah Insan Cita Aritha Jaya (BPRS Insan Cita) to offer micro- finance and digital payment solutions to its more than 18,000 customers and the general public.
Logiq will provide these services through its mobile fintech platform, PayLogiq, including an e-wallet, online bill payment, paycheck advance funds and other financial products. These services are now available to some customers and Logiq plans to fully launch them over the next three months.
âWe welcome BPRS Insan Cita as the first Indonesian bank to join our new microfinance program,â said Logiq President Brent Suen. âInsan Cita shares our vision for greater financial inclusion in Indonesia, with this advancement through greater adoption of our microfinance services.
âIntroducing this program to their thousands of clients represents a tremendous endorsement of our microfinance and mobile payments solutions. We see this paving the way for other banks to follow, as well as a rapid increase in income generated by this microfinance program. “
Partnership with BPRS Insan Cita follows Logiq’s recent approval of an Indonesian government loan interest rate to launch microcredit services to over 50 million members of Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK) , which manages their pensions and their health. advantages.
The loan rate approval is part of Logiq’s previously announced launch of mobile fintech services as part of an exclusive strategic alliance with the country’s social security program provider, Koperasi Mona Santoso Berjaya (KMSB). Together, they will provide microcredits to BPJSTK members for personal and professional use.
Logiq and KMSB are also developing a jointly owned and operated mobile fintech platform designed to deliver these mobile financial services across Indonesia. Logiq, through its Indonesian operations, provides platform design and technology, management, ongoing hosting and technical support. KMSB provides the professional and financial institutional relations which will be at the origin of the microfinance program.
The global pandemic has accelerated the adoption of digital financial services in Southeast Asia and has resulted in a growing demand for digital contactless banking. According to SGE, the Indonesian digital financial services market is expected to skyrocket at a compound annual growth rate of 34% to reach $ 8.6 billion by 2025.
Logiq Inc. is a leading global provider of e-commerce solutions and fintech business support based in the United States. Its DataLogiq business provides an end-to-end data-driven marketing and consumer acquisition solution. Its AI-powered LogiqX â¢ data engine delivers valuable consumer insights that improve ROI on online marketing spend and personalization. The company’s Fixel technology delivers streamlined online marketing with essential privacy features.
In its AppLogiq business, Logiq’s platform as a service, under the CreateApp â¢ brand, enables small and medium businesses around the world to easily build and deploy a native mobile app for their business without technical knowledge or knowledge. CreateApp â¢ enables businesses to reach more customers, increase sales, manage logistics and promote their products and services in a simple, affordable and highly effective way.
CreateApp â¢ is offered in 14 languages ââin 10 countries and three continents, including some of the fastest growing emerging markets in Southeast Asia. The company’s PayLogiq, under the AtozPay â¢ brand in Indonesia, offers mobile payments, and GoLogiq, under the AtozGo â¢ brand in Indonesia, provides hyper-local food delivery services. Connect with Logiq: website | LinkedIn | Twitter| Facebook.
Important Cautions Regarding Forward-Looking Statements
This press release contains certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. . This press release also contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws that relate to Logiq’s current expectations and opinions about future events. All statements that express or involve discussions regarding expectations, beliefs, plans, goals, assumptions or future events or performance (often, but not always, through the use of words or phrases such as ” will probably result “,” are expected at “,” expects “,” will continue “,” is anticipated “,” anticipates “,” estimates “,” estimated “,” intends “,” plans “, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results differ materially from those expressed in these forward-looking statements. No assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this press release should not be improperly relied upon.
These statements speak only as of the date of this press release. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the control of Logiq, which could cause actual results and events to differ materially. those that are disclosed or implied by such forward-looking statements. In particular and without limitation, this press release contains forward-looking statements regarding our products and services, the continued use and / or demand for our products and services, expectations regarding our revenue and the revenue-generating potential of our products. and services, our strategic partnerships and alliances, the impact of global pandemics (including COVID-19) on demand for our products and services, industry trends, overall market growth rates, our growth strategies , the continued growth of addressable markets for our products and solutions, our business plans and strategies, the proposed separation of Logiq’s AppLogiq and DataLogiq businesses into two public companies, including, without limitation, our ability to locate and to successfully complete the envisaged strategic transactions, the structure of such a transaction, the timing of this transaction and the valuation of the companies after the completion of any such transaction, if any, and other risks described in the Company’s previous press releases and in its documents filed with the Securities and Exchange Commission (SEC), including its annual report on Form 10-K and any subsequent public filings, as well as filings made in accordance with Canadian securities legislation which are available at www.sedar .com, including under the heading âRisk Factorsâ in the Canadian prospectus of the Society.
Logiq assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. New factors emerge from time to time, and it is not possible for Logiq to predict all of them, or to assess the impact of each of these factors or the extent to which a factor, or a combination of factors, may. lead to results materially different from those contained in any forward-looking statement. All forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
Brent Suen, President
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