FinTech pioneer, Fingular, celebrated for its partnership with InDrive, took home the prize at the ABF FinTech Awards 2025.
Singapore-based neobank Fingular has been honoured as a laureate in the Asian Banking & Finance (ABF) FinTech Awards 2025, under the category of Financial Inclusion Award. This recognition comes in light of Fingular's innovative financial solution, inDrive.Money, which addresses the credit gap in emerging markets.
In partnership with Indonesian ride-hailing company, inDrive, and sharia-compliant peer-to-peer lender, Ammana, inDrive.Money offers drivers in Indonesia access to cash financing, capped at 10 million rupiah. The integrated inDrive application allows drivers to easily apply for and manage their finances. Repayment is facilitated through ride fares, making it a convenient and accessible financial tool.
The initiative has significantly contributed to financial inclusion in Indonesia. By offering cash advances, inDrive.Money increases financial accessibility for drivers who might struggle to obtain traditional bank loans or credit services, particularly in rural or underserved areas. This increased accessibility empowers drivers to manage their financial needs more effectively, whether for personal expenses or business investments.
The program, initially piloted in late 2024, underwent rigorous testing and refinement before expanding nationwide to key urban centres such as Pematangsiantar, Purwakarta, Sukabumi, Makassar, Ternate, Garut, Bali Island, Palembang, Bukittinggi, Surabaya, Bandung, and Jakarta. This expansion indicates a significant level of trust and adoption among drivers, contributing to broader financial inclusion.
Max Chernuschenko, CEO of Fingular, commented on the recognition, stating that it reaffirms Fingular is moving in the right direction. Vadim Gurinov, strategic backer of Fingular, emphasised the importance of creating value for customers by focusing on the availability and quality of financial services. He also mentioned introducing innovative and fair customer-centric digital products, with the aim of accelerating customers' involvement in the financial system.
The introduction of inDrive.Money gives inDrive a competitive edge in the Indonesian ride-hailing market, which is dominated by major players like Gojek and Grab. This financial inclusion strategy helps attract and retain drivers by offering them unique financial benefits. Despite the challenges faced by peer-to-peer lending platforms in Indonesia due to consolidation and regulatory pressures, Fingular's collaboration with inDrive and Ammana highlights the potential for innovative fintech solutions to thrive and enhance financial inclusion.
The award ceremony for the winners was held on July 8, 2025 at the Marina Bay Sands Expo and Convention Centre. The ABF FinTech Awards 2025 were organized by Asian Banking & Finance. With this recognition, Fingular continues to showcase its commitment to financial inclusiveness and creating value for customers in the ride-hailing industry.
In partnership with sharia-compliant peer-to-peer lender, Ammana, and Indonesian ride-hailing company, inDrive, Fingular's innovative financial solution, inDrive.Money, utilizes technology to offer drivers access to cash financing, thus promoting business growth. The Asian Banking & Finance (ABF) FinTech Awards 2025 recognizes Fingular's financial inclusion efforts, particularly in the category of Financial Inclusion Award, highlighting the significant impact of technology in the business sector.
