The adoption of financial apps is surging in Southeast Asian markets like Indonesia, the region’s most populous country. Founded by fintech veterans last year, Brick develops APIs that make it easier for tech companies to add identity verification and access financial data from their users. It is currently partnered with Indonesia’s seven largest banks, covering more than 90% of the country’s bank accounts, and plans to expand into all Southeast Asia countries.
More than three-fourths of Southeast Asia’s population is unbanked or underbanked, meaning they don’t have a bank account or access to traditional lending services. Brick will serve them as well, with products like mobile wallet and telcos APIs that are currently in beta and slated for launch next quarter.