JULO, an Indonesian FinTech Company gives moderate unbound personal loans (KTA) solely to cell phone users. They endeavour to give low-cost loan products to the majority while guaranteeing that it’s financially feasible to their bank accomplices. 

This is accomplished by practising judicious endorsing evaluations to guarantee that affirmed candidates are both capable and ready to pay back. They additionally reward positive conduct by giving cashback reward and permitting great clients to obtain a higher sum at lower interest at loan maturity.

Through machine learning and advanced credit analytics, JULO is able to assess the creditworthiness of the population that is often overlooked by conventional institutions. 

JULO is backed by prominent VCs and funds who share the same belief of impact investing and tech-driven solutions for financial inclusion. Operating in the world’s fourth most populous nation, JULO intends to achieve its immense growth potential.

Through its eponymous Android application, Julo gives loans of about $300 to clients at an aggressively competitive pace of 3-5% every month — one of its key separating factors. 

JULO has figured out how to keep its loan fee low since its credit scoring framework is more effective than those of its opponents, asserted Hitijahubessy, who has amassed over a time of involvement with credit scoring frameworks utilizing elective information from his past stretches. 

There are loads of players in this market. Indonesia, however all around. Be that as it may, it comes down to who really recognizes what they are doing. The bar is getting higher and it is progressively getting hard for advanced loaning organizations to simply dispatch an application and charge a high financing cost.

JULO works with banks and people to fund advances to clients. It says it has dispensed about $50 million to date.

JULO backing up during the crisis

The COVID-19 episode has negatively affected the economies of nations all through the world including Asian countries, for example, Indonesia. 

(JULO) bolsters shared (P2P) loaning, and has acquainted a few projects that point with help individuals and organizations affected by the Coronavirus emergency. 

JULO supposedly obtained a permit to operate from Indonesia’s Financial Services Authority (OJK) in June 2020. The Fintech bank has reacted to the difficulties made because of the pandemic by offering different advance rebuilding choices to borrowers who may think that its hard to reimburse advances at this moment. 

JULO has helped a huge number of organizations with loan reconstructing plans. At present, the organization is dealing with rebuilding demands from customers who are attempting to keep up tasks due to COVID-19. 

JULO said that credit applications need to experience a careful check process and must be endorsed by the bank before the loan can be rebuilt.

On the head of those demonstrations, JULO encourages online repayment from home during the physical-distancing period through mobile banking and web banking. 

This shows how the organization bolsters #DirumahAja (stay-at-home) crusade to control the spread of COVID-19 infection.

What’s more, JULO permits Partial Payment alternative which permits clients to reimburse their loan in littler sums as often as possible, to facilitate the weight when the instalment due date draws near. 

Teknologi Finansial demonstrates how they care for clients during COVID-19 pandemic through real actions. Creating impact for society has consistently been its strategy; it was built up three years prior. 

Next to COVID-help programs for its own clients, In Ramadan 2020 JULO gave food staple bundles (sembako) to help informal labourers who were monetarily hit by the pandemic. 

Adrianus features, “Since the absolute starting point, JULO was built up by local Indonesians to create impact for Indonesians. Alongside our vision to help money related consideration the nation over; JULO Peduli COVID Program, be it credit rebuilding, gratefulness for good clients, or gift for society out of luck, is our part to assist Indonesia with making due from this emergency.

We trust Indonesia can vanquish this pandemic when we are for the most part doing our part.”

Few Points To Be Kept In Mind While Developing A Successful FinTech App Like JULO or Julo Clone App

• Only store crucial information of the client, in order to avoid database leakage
• Force the use of passwords on the app
• Two – Factor authentication
• Prevent broken access control
• A solid API security strategy
• Use data encryption
• Educate customers
• Use payment blocking
• Have failover redundant Infrastructure

The Post-COVID world is changing the elements of working together, said Instamojo’s Gehani, including that having a digital presence is presently compulsory for organizations to endure. “What’s more, it is self-evident, on the off chance that you need to have a digital presence, at that point you unquestionably need instalments incorporated into it” he stated.

Gehani included that numerous organizations would be coming on the web just because, and fintech specialist co-ops would need to structure their items so as to not get overpowered. 

With social distancing being the new normal and individuals having restraints about utilizing money because of dread of getting the infection, it may get basic for organizations to fuse contactless instalments to support in the Post-COVID period. 

Develop your very own advanced FinTech App in Indonesia

The prime thought of a FinTech application development organization is to give an answer that doesn’t expect individuals to leave their homes, and yet provide them with effortless access to online banking features and transactions.

The framework gives them the office to remain in the solace and security of their homes and yet be able to manage the finances.

In the event that you need an application that satisfies all and substantially more, we will go to your guide. We are a prominent versatile application development organization. We have created applications for iOS, Android and Web stages. We have practical experience in creating portable and online IT arrangements.

Note : We do not make clone of any exact application, clone means to us is how better we can execute your idea with existing app features and experience.