J Trust Bank Launches E-Money Using DAM Corp Platform

DAM Corp is J Trust's bank consultant for e-money license

DAM Corp, a fintech enabler company, announces the latest partnership with J Trust Bank for e-money launching. DAM Corp will act as a technology developer partner and advisor for J Trust Bank.

A partnership between the two is marked by the MoU signing which took place on August 1, 2018. Later, customers of J Trust Bank can download the server-based e-money via Play Store and App Store.

"In terms of principle, we provide a white label platform for J Trust to develop e-money, as we do with Mandiri e-cash. For the product's name, we give J Trust the freedom to choose the name for their e-money," Fanny Verona, DAM Corp's Managing Director, said to DailySocial.

J Trust Bank will use DAM Corp's e-money platform to create their e-money products as necessary.

Regarding e-money license submission, DAM Corp will act as an advisor to the J Trust Bank for any required documents in order to smoothen the process.

"In fact, we don't have the e-money license from BI, J Trust's Bank will be the one to submit. It's indeed using our platform, and acceptable to BI regulations."

Bank J Trust is not the only partner that uses DAM Corp's e-money platform. Previously, there was Bank Mandiri for Mandiri e-cash products, LINE Pay e-cash, AlfaMicro. There are also partners from universities, malls, and SOEs.

"We are aware, to build a comprehensive fintech ecosystem, it can't be through one player. It's necessary to embrace businesses and other fintech companies to create a mature ecosystem and market education," she concluded.

Original article is in Indonesian, translated by Kristin Siagian

Are you sure to continue this transaction?
processing your transaction....
Transaction Failed
Try Again

Sign up for our

Subscribe Newsletter