Finfra, the lending infrastructure provider that operates in Indonesia (together with its licensed peer-to-peer lending affiliate Danabijak), has announced a new partnership with the Indonesia branch of health tech platform CareNow. This country-wide partnership enabled the full integration of Finfra’s Payment Solutions product into CareNow’s Indonesian platform. In expanding medical financing options for users, this integration directly bolsters CareNow’s overarching commitment to make healthcare more affordable and accessible to patients throughout Indonesia.
This partnership is already working to the benefit of CareNow’s Indonesian customer base, who use the platform to connect with clinics, dentists, and healthcare providers. Lack of financial and payment flexibility, however, has proven to be a serious roadblock for many people when seeking the medical care they need to live their healthiest lives. Many patients in more precarious economic situations have been forced to avoid getting the care they need due to their financial constraints, which is exactly the problem this instalment integration and partnership aims to help solve.
Rather than try to build a new payment infrastructure from scratch – a process that would require several years, additional developers, and cost upwards of $5 million based on current market dynamics – CareNow reached out to Finfra to partner on the integration of Finfra’s sophisticated Payment Solutions product. Working together, Finfra adjusted its highly customisable and white-labelled product to meet CareNow’s specific needs. Instead of embarking on a years-long process, CareNow was able to roll out this essential new benefit to customers in a matter of weeks. Now CareNow users can access the medical treatment and healthcare services they need whenever they need them, and pay for those treatments in installments over an extended time period.
Finfra’s recognized expertise specific to credit scoring and risk management in the highly regulated Indonesia financial services sector was crucial to the success of this partnership. In addition, CareNow chose to partner with Finfra not only because of its state-of-the-art technology and experienced team, but also because Finfra’s affiliate Danabijak is licensed by Indonesia’s financial services authorities (OJK). This means that CareNow’s new Payment Solutions product is fully compliant with federal financial regulations, shoring up overall company stability and investor confidence.
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