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Product cover image for YUP: Algorithmic Credit Cards for Indonesia’s Underbanked Majority

YUP: Algorithmic Credit Cards for Indonesia’s Underbanked Majority

Yanlai Chu, Jianzheng Shi, Yue Wang, Chunmian Ge

Product #:W46941
Supplier:Ivey
Discipline:International Business, Marketing
Setting:Indonesia, China, 2025
Details:Case (PDF) • 12 pages • 2026-01-15

Subjects:

FintechEmerging markets

Industries:

Financial service sector
Your Price:$9.71

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Founded in Jakarta in 2020, the financial technology (fintech) firm PT Finture Tech Indonesia (YUP) set out to close Indonesia’s gap between digital readiness and limited credit access. Based on deep localization, cultural signals, and China’s fintech playbook, YUP designed user-centric credit cards powered by an alternative credit scoring algorithm that used non-traditional data such as device usage, online behavior, and mosque donations to serve people excluded by traditional banks. By 2024, YUP had 1 million users and over US$1 billion in transactions. An unexpected result of its unbiased algorithm was empowering women, who made up 56 per cent of its user base, many of whom were micro-entrepreneurs. YUP now faced a choice: deepen its presence in Indonesia, expand its ecosystem, or enter new Southeast Asian markets.

Learning Objectives

This case serves graduate-level courses in emerging market strategy, fintech innovation, social entrepreneurship, and digital transformation. After working through the case and assignment questions, students will be able to do the following:
  • Evaluate strategic business models in emerging markets by comparing peer-to-peer (P2P) lending and credit cards.
  • Assess whether the technology-culture fusion can create a competitive advantage.
  • Examine the role of gender inclusion in fintech and its implications for market development and social impact.
  • Analyze trade-offs between deep localization and scalable regional expansion.
  • Formulate growth strategies that align fintech innovation with mission-driven financial inclusion.
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Case Study: YUP: Algorithmic Credit Cards for Indonesia’s Underbanked Majority (English version) | Ivey Publishing