Allo Bank

What Allo Bank does

PT Allo Bank Indonesia Tbk is a mobile-first Indonesian digital bank, founded in 2021 and publicly traded on the Indonesia Stock Exchange under ticker MEGA. The bank distributes entirely through its flagship Allo App (iOS and Android), with no physical branch network. Its product architecture is layered: three wallet tiers — Allo Pay (unregistered e-money, Rp2M balance cap), Allo Pay+ (KYC-verified, Rp10M cap, transfers enabled), and Allo Prime (full savings account, unlimited limits) — on top of which sit Allo Grow (tiered-interest savings up to 6.5% p.a. with no early withdrawal penalty), Allo Deposito (time deposits up to 8.0% p.a. with 2% bonus for first-time depositors), Allo PayLater (BNPL and instant cash credit), and the Allo Visa Virtual Debit Card for international online transactions. Distribution leverages Indonesia's national QRIS payment network, cardless cash withdrawals via the Bank Mega ATM network, and Visa rails for online acceptance.

The technology stack is built on cloud infrastructure with biometric authentication (fingerprint/FaceID), AI-driven real-time fraud detection, automated KYC onboarding, and AI-assisted credit risk profiling for PayLater and loan eligibility. The bank is licensed by OJK, supervised by Bank Indonesia, enrolled in LPS deposit insurance (up to Rp2 billion per customer per bank), and ISO/IEC 27001:2022 certified (September 2023). It complies with Indonesia's Personal Data Protection Law (UU PDP No. 27 of 2022).

The core differentiator is integration with the CT Corpora ecosystem through the MPC (Membership, Points, Coupons) loyalty program — a tiered membership (Starter, Advance, Premium) where 1 point equals Rp1, usable across CT Corpora merchants and strategic partners. Revenue mechanics combine interest income from savings/deposits, transaction and interchange fees on QRIS/card payments, PayLater interest and installment fees, and nominal service fees (Rp40,000 per virtual-card replacement). Go-to-market is product-led, targeting Indonesian consumers aged 17+ seeking branchless digital banking, amplified by brand ambassadors WONWOO and MINGYU from K-pop group SEVENTEEN, social media, festival/events, and CT Corpora cross-promotion. Q2 2025 net profit after tax reached Rp115 billion (up 27% YoY), and the bank announced its first-ever dividend distribution in 2025.

Name

Allo Bank

Legal name

PT Allo Bank Indonesia Tbk

Website

https://allobank.com

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

251–500 employees

Short description

PT Allo Bank Indonesia Tbk is a mobile-first Indonesian digital bank serving consumers through its Allo App, offering tiered wallets (Allo Pay/+/Prime), savings, deposits, PayLater credit, and a Visa virtual debit card, integrated with the CT Corpora ecosystem via the MPC loyalty program.

Ownership category

akta.pro rank

Product category

Digital Banking

NAICS

Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industries

In-App / Online Checkout Wallets (FSAMAEAH), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF), A2A Bill Pay & eInvoicing (Open Banking Enabled) (FSAMAFAL)

Keywords

• Digital banking services
• Mobile banking app
• Savings accounts
• Buy now pay later
• Electronic payments

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure, Others

Revenue model

1. Interest Income from Allo Grow Savings: Interest earned on customer savings balances deposited in Allo Grow product, with rates ranging from 4.0% to 6.5% p.a. based on deposit tenure
2. Interest Income from Deposito: Interest earned on time deposits, offering rates up to 8.0% p.a. with bonus rates for first-time depositors
3. PayLater Credit Revenue: Interest and fees charged on installment credit facilities (PayLater) and instant cash withdrawals
4. Transaction Fees: Fees collected from payment transactions, transfers, bill payments, and cash withdrawals through the Allo App platform
5. Virtual Card Fees: Fees from Allo Visa Virtual Debit Card issuance and replacements (Rp40,000 per replacement)
6. Interchange Fees: Interchange revenue from QRIS payments and card transactions processed through the Allo Bank network

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Allo Bank is a mobile-first digital bank that delivers savings, payments, credit, and loyalty products entirely through the Allo App to Indonesian consumers. Its portfolio includes tiered e-wallets (Allo Pay, Allo Pay+, Allo Prime), interest-bearing savings (Allo Grow and Allo Deposito), a buy-now-pay-later product (Allo PayLater), a Visa-backed virtual debit card, and the MPC loyalty program integrated across the CT Corpora ecosystem. The bank has no physical branches and operates under OJK and Bank Indonesia oversight with LPS deposit insurance.

Product overview

Allo Bank is a mobile-first Indonesian digital bank (PT Allo Bank Indonesia Tbk) offering a unified super-app platform centered on the Allo App. The product architecture spans three wallet tiers — Allo Pay (unregistered e-money, max Rp2M), Allo Pay+ (registered e-money, max Rp10M), and Allo Prime (savings account, unlimited limits) — each building on the previous in functionality. Above the wallet layer, Allo Bank offers Allo Grow (tiered-interest savings), Allo Deposito (fixed deposits), and Allo PayLater (BNPL/instant cash), all accessible within the same app. A Visa-backed virtual debit card (Allo Visa) extends online payment capabilities globally for Allo Prime users. The MPC loyalty program (Membership, Points, Coupons) integrates across the CT Corpora ecosystem, rewarding transactions with points redeemable at ratio 1:1. Core services include QRIS-based payments, cardless cash withdrawals at Bank Mega ATMs, bill payments, balance top-ups, and peer-to-peer transfers. All products are governed by biometric authentication (fingerprint/FaceID), AI-driven fraud detection, and automated KYC.

Differentiator

Problem solved

Functional benefit

Brands

• Allo Pay: Unregistered electronic money product with maximum balance of Rp2,000,000, available for payment transactions and top-up.
• Allo Pay+
• Allo Prime
• Allo Grow
• Allo Visa Virtual Debit Card
• Allo PayLater
• MPC (Membership, Points, Coupons)

Products and services

• Allo App Allo Bank's flagship mobile banking application and the unified platform through which customers access all products and services. Available for download on the Apple App Store and Google Play Store, it supports biometric authentication, QRIS payments, KYC registration, real-time notifications, and the MPC loyalty program.
• Allo Pay Unverified electronic money product provided by Allo Bank. Functions as a funding source for banking transactions excluding transfers and ATM cash withdrawals. Maximum balance Rp2,000,000 and monthly transaction limit Rp20,000,000. Free to use, registered via phone number only.
• Allo Pay+ Registered electronic money product with maximum balance of Rp10,000,000 and monthly transaction limit of Rp20,000,000. Supports transfers and cash withdrawals. Requires KYC verification to upgrade from Allo Pay.
• Allo Prime Full-feature savings account with unlimited balance and transaction limits. Provides full access to Allo PayLater, cash withdrawals, savings management, and is required for Allo Visa Virtual Debit Card activation. Interest-bearing account.
• Allo Grow Savings product with tiered interest rates that increase with deposit tenure, ranging from 4.0% p.a. (1-14 days) up to 6.5% p.a. (720+ days). Supports penalty-free early withdrawals with no minimum balance requirement.
• Allo Deposito Time deposit product with interest rates up to 8.0% p.a. and an additional 2% bonus for first-time depositors. Offers flexible tenors and auto-renewal customization. Covered by LPS deposit insurance.
• Allo PayLater Buy-now-pay-later and instant cash service offering credit access 24/7 with 100% online application using e-KTP only. A single unified credit limit covers QRIS transactions and instant cash withdrawals. Monthly installments calculated based on tenure and total payment.
• Allo Visa Virtual Debit Card Virtual debit card issued in partnership with Visa exclusively for Allo Prime customers. Enables online transactions at merchants worldwide that support Visa. Free activation through the Allo App, no minimum balance required, customizable daily transaction limits, and Rp40,000 replacement fee.
• MPC (Membership, Points, Coupons) Integrated loyalty program with three membership tiers (Starter: 0-1,999,999 points; Advance: 2,000,000-4,999,999 points; Premium: 5,000,000+ points), Points currency redeemable at 1 point = Rp1 for payments, and Coupons for merchant discounts across the CT Corpora ecosystem and Strategic Partner platforms.
• Allo App Download Service Direct app download platform serving as the primary customer acquisition channel for Allo Bank. Available on Apple App Store and Google Play Store, accessible via QR code.

Quantifiable outcome

• Net profit after tax grew 27% year-on-year to Rp115 billion in Q2 2025
• +4 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability6 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered core and supporting.

• VisacoreTechnology or Integration · 16 March 2025Strategic partnership with Visa, a global payments technology company, to launch Allo Visa Virtual Debit Card. This virtual card enables Allo Bank customers to make online transactions worldwide at all Visa-enabled merchants. The partnership represents a key product expansion for Allo Bank's digital banking offerings.
• BI FastcoreTechnology or Integration · 14 August 2022Partnership with BI Fast (Bank Indonesia Fast Payment) for instant payment services. This integration enables fast fund transfers and payment processing as part of Indonesia's national payment infrastructure.
• Bank MegacoreTechnology or IntegrationBank Mega provides ATM network for Allo Bank's cardless cash withdrawal service. Allo Bank customers can withdraw cash using QR codes at Bank Mega ATMs without needing a physical card.
• CT CorporacoreStrategic or Co-development PartnerParent holding company providing the broader ecosystem for Allo Bank. CT Corpora Group includes various businesses and CT Corpora Merchants where customers can use MPC loyalty program (Points, Coupons). Allo Bank registration is integrated with CT Corpora platform.
• PT Advance Intelligence IndonesiasupportingTechnology or IntegrationKYC (Know Your Customer) vendor partner providing identity verification services for Allo Bank's digital onboarding process.
• PT Indonesia Digital Identity (VIDA)supportingTechnology or IntegrationKYC vendor partner providing digital identity verification and e-KYC services for Allo Bank's customer onboarding.
• PT Hicloud Technology IndonesiasupportingTechnology or IntegrationTechnology vendor supporting Allo Bank's cloud infrastructure and KYC processing capabilities.
• Dinas Kependudukan dan Pencatatan Sipil (Dukcapil)supportingTechnology or IntegrationGovernment entity (Population and Civil Registration Office) providing official identity data verification services for KYC compliance.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SeaBank Indonesia: Licensed Indonesian digital bank within Sea Group (parent of Shopee) offering high-yield savings, payments, and consumer lending through a mobile app. Comparable as a mobile-first Indonesian digital bank competing on deposit rates and ecosystem.
• Bank Jago: Indonesian publicly listed digital bank (PT Bank Jago Tbk) offering a mobile-first banking app with savings, payments, and lending products to consumers and MSMEs. Directly comparable as a licensed Indonesian digital bank targeting the same retail segment with app-based onboarding.
• Jenius (Bank BTPN): Digital banking service of Bank BTPN, providing mobile-based savings, payments, and Send-It feature for Indonesian consumers. Directly comparable in product scope (e-wallet, savings, transfers) and target customer base to Allo Bank.
• Blu by BCA Digital: Digital banking subsidiary of Indonesia's largest private bank (BCA), offering a mobile app with savings, payments, and lifestyle integrations to Indonesian consumers. Closely comparable as a licensed digital-only bank targeting the same demographic.
• Wondr by BNI: Mobile banking super-app from Bank Negara Indonesia offering savings, payments, investments, and lifestyle features to Indonesian consumers. Comparable as an Indonesian digital bank serving mass-market retail customers via a mobile-first product.

Emerging players

• DANA Indonesia: Indonesia-based digital wallet offering QRIS payments, transfers, bill payments, and merchant services via mobile app. Comparable to Allo Pay/Pay+ as a domestic e-wallet peer competing for Indonesian retail payments market share.
• OVO: Indonesian e-wallet offering QRIS payments, transfers, and merchant services with broad acceptance. Comparable to Allo Pay / Allo Pay+ as a consumer-focused mobile wallet competing for the same Indonesian QRIS transaction volume.

Broad incumbents

• GoPay (GoTo Financial): Indonesia's largest e-wallet from GoTo GojekTokopedia, offering QRIS payments, transfers, and consumer financial services. Comparable as a digital wallet/payments incumbent competing with Allo's Allo Pay and Allo Pay+ tiers.
• Livin' by Mandiri: Digital banking app of Bank Mandiri, Indonesia's largest bank by assets. While owned by an incumbent, it competes head-on with Allo on savings, QRIS payments, and consumer credit through a mobile app.
• Bank Mega: Indonesia-listed bank (IDX: MEGA) under CT Corpora that operates the ATM network underpinning Allo's cardless cash withdrawal service. Highly adjacent as the likely traditional-banking parent within the same CT Corpora group.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/allobankid
• YouTubeyoutube.com/channel/UCCnAbRQY5SxDTo7Es7Vmr0A
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/allo-bank
• Instagraminstagram.com/allobank
• TikToktiktok.com/@allobankid

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Allo Bank