Bank Danamon Partners with Carsome as Cash Management Bank

4 March 2020 – PT Bank Danamon Indonesia Tbk (“Bank Danamon”) and PT Car Some Indonesia (“Carsome”), one of the leading car trading platforms, form a partnership in which Bank Danamon will become Carsome’s Cash Management Bank in Indonesia. Through this partnership, Bank Danamon will provide various Cash Management services such as operating account services, payment, cash pick-up, and payroll to Carsome. 

This partnership will allow Carsome to access Bank Danamon’s various product and services to manage their banking transaction and requirements effectively and efficiently.   

“It is our utmost goal to support the growth of our partner’s business, and we are excited to be working with one of the region’s leading car trading platforms. This partnership is made possible through collaboration with MUFG, which has a working relationship with Carsome at the regional level. We look forward to supporting Carsome’s business in Indonesia through our comprehensive suite of banking solutions,” said Michellina Triwardhany, Vice President Director, Bank Danamon

Previously, MUFG Innovation Partners Co., Ltd. (MUIP), a corporate venture capital fund and a wholly-owned subsidiary of MUFG, recently invested in Carsome Sdn, Bhd. MUFG is the controlling shareholder of Bank Danamon. 

Carsome is Southeast Asia’s largest used car trading platform, connecting individuals who wish to sell cars with dealers. With operations in Malaysia, Indonesia and Thailand, Carsome sees over 40,000 cars worth more than US$300 million transacted annually via its platform.