Executive Summary

Key insights and market outlook

PT Astra Welab Digital Arta's Maucash fintech lending platform is shutting down operations following approval from Indonesia's Financial Services Authority (OJK) ¹

². The decision aligns with OJK Regulation No. 40/2024 on Technology-Based Funding Services. Maucash will stop all electronic funding activities effective immediately, with stakeholders able to contact the company until January 31, 2026, for further information ¹.

Full Analysis

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Deep Dive Analysis

Astra's Maucash Fintech Platform to Cease Operations After OJK Approval

Background and Regulatory Compliance

PT Astra Welab Digital Arta's Maucash, a fintech lending platform backed by Astra International (ASII) and WeLab, is shutting down its operations following approval from Indonesia's Financial Services Authority (OJK) ¹

². The decision was made in compliance with OJK Regulation No. 40/2024 concerning Technology-Based Funding Services (LPBBTI). The OJK approved Maucash's request to return its business license as stated in letter No. S-40/D.06/2025 dated December 17, 2025 ¹.

Business Rationale and Future Plans

Maucash's decision to cease operations is part of Astra's strategic restructuring in the unsecured lending segment. According to Indra Suryawan, Maucash's Marketing Director, the group has decided to focus uncollateralized lending through Bank Saqu, a digital bank under Astra's ecosystem ³

. This move aims to eliminate overlap between Maucash and Bank Saqu, which operate in the same market segment.

Industry Context and Performance

Despite the shutdown, Maucash had shown positive performance in 2024, with 19% growth in loan disbursement and maintaining a very low default rate of 0.12% ¹

. The Indonesian fintech lending industry has demonstrated robust growth, with outstanding fintech financing increasing by 29.14% as of December 2024 compared to the previous year ¹.

Transition Process

Maucash has assured that the transition will be conducted orderly and in compliance with OJK's requirements. Existing customers will still have access to financing through other Astra financial products ³

. Stakeholders have until January 31, 2026, to contact Maucash regarding the license return process ¹.

References