News Snapshot:
Hong Kong fintech WeLab launch digital bank in Indonesia Hong Kong fintech WeLab said on Tuesday it will buy a controlling stake in Indonesian commercial lender PT Bank Jasa Jakarta and launch a digital bank in the country – one of Asia’s fastest-growing digital economies. WeLab, backed by Allianz and billionaire Li Ka-Shing’s TOM Group, said it had secured US$240 million from existing and new investors to help fund the deal. A WeLab-led group has already picked up 24per cent of PT Bank Jasa Jakarta and will buy the remaining majority stake following regulatory approvals, the Hong Kong firm added....
