PT Bank Aladin Syariah

What PT Bank Aladin Syariah does

PT Bank Aladin Syariah is a publicly listed Indonesian Sharia-compliant digital bank, headquartered in Jakarta and traded on the Indonesia Stock Exchange (idx:BANK). The entity traces its license heritage to PT Bank Maybank Syariah Indonesia (1994 origin), was acquired in 2019 by PT NTI Global Indonesia and PT Berkah Anugerah Abadi, renamed PT Bank Net Indonesia Syariah, and rebranded as Bank Aladin Syariah ahead of its January 2022 digital launch. It operates as a mobile-first, cloud-based bank with no traditional branch network; the Android/iOS Aladin app is the primary customer interface, featuring E-KTP and biometric-face-scan onboarding, GPN debit card issuance, QRIS payments, and free inter-bank transfers under conditions. The product suite — built on Mudharabah, Wakalah, and Ijarah contracts — spans Ala Dompet (transactional savings), Ala Deposito (time deposits, 1/3/6/12-month tenors, Rp1M minimum), Ala Impian and its Hajj/Umrah variants (goal-based savings), Aladin Gen (Gen Z), Ala Berbagi (charity), and a business-banking line (Tabungan Ala Bisnis, Deposito Ala Bisnis, Giro Ala Bisnis Mudharabah). All products operate under OJK and Bank Indonesia supervision with LPS deposit insurance coverage.

Revenue is generated primarily through Mudharabah-based deposit spreads (Nisbah profit-sharing), transactional fees, and time-deposit margins, with growing Banking-as-a-Service fee revenue embedded inside partner applications such as Alfagift, Evermos, Virgo, Super Flip, Aksesmu, and Mekari Savings. Distribution relies on a flagship partnership with Alfamart (30,000+ retail outlets) for cash-in/cash-out, the GPN ATM/EDC network for cash access, and a self-serve mobile onboarding flow. Customers are primarily Indonesian Muslim retail consumers seeking Sharia-compliant banking, with secondary segments in UMKM/SMB (with Meta/Aspire/OrderOnline advertising support), government civil-servant pensioners (PT Taspen Persero partnership, July 2024), and students/santri (KSE scholarship program). The company reached 3.2M+ registered users by December 2023, was named 'Islamic Banking Initiative of the Year' at the ABF Retail Banking Awards 2023, and added the KNEKS Outstanding Digital Islamic Banking Performance 2026 award and a public-choice Best Sharia Digital Banking 2026 recognition.

Name

PT Bank Aladin Syariah

Legal name

PT Bank Aladin Syariah Tbk

Website

https://aladinbank.id

Company type

Public

Founded year

2022

Operating status

Operating

Headcount range

501–1,000 employees

Short description

PT Bank Aladin Syariah operates Indonesia's first Sharia-compliant digital bank via the Aladin mobile app. It serves Indonesian retail consumers, UMKM/SMBs, and government clients through Mudharabah-based deposits, payments, and BaaS partnerships with the Alfamart ecosystem.

Ownership category

akta.pro rank

Product category

Islamic Digital Retail Banking

NAICS

Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI)

akta.pro secondary industries

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Corporate Banking (FSABAGAC), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF)

Keywords

• Sharia digital banking
• Islamic banking services
• Mobile banking
• Mudharabah deposits
• QRIS 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, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Mudharabah Deposit (Savings) Revenue: Customer deposits are pooled and invested according to Sharia principles. Revenue is generated from the spread between investment returns and profit sharing (Nisbah) paid to depositors. Core banking revenue stream.
2. Transaction Fees: Fees charged for various banking services including transfers, card services, and other transactions. Some transfers are free between banks with conditions.
3. Ala Deposito (Time Deposit): Mudharabah Muthlaqah-based time deposits with tenor options of 1, 3, 6, and 12 months. Minimum placement of Rp1,000,000. Revenue from investment margin.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

PT Bank Aladin Syariah operates a Sharia-compliant digital bank in Indonesia, delivering banking products and services through a mobile-first application under Mudharabah, Wakalah, and Ijarah contracts. Core offerings include transactional savings (Ala Dompet), time deposits (Ala Deposito), goal-based savings (Ala Impian, including Hajj and Umrah variants), business banking (Tabungan, Deposito, and Giro Ala Bisnis Mudharabah), and a premier tier (Aladin Premier), supported by QRIS payments, bill payment, e-wallet, charity (Ala Berbagi), and cash services through Alfamart and GPN ATMs.

Product overview

PT Bank Aladin Syariah operates a digital-first Islamic bank in Indonesia, offering a unified mobile banking platform supplemented by physical debit card and ATM access. The core product is the Aladin mobile app, which provides multiple account types under the Ala series — Ala Dompet (transactional savings), Ala Deposito (time deposits), Ala Impian (goal-based savings with Hajj/Umrah variants), and Aladin Gen (Gen Z-targeted savings) — plus add-on modules including Ala Berbagi (charity), QRIS Aladin (QR payments), Bayar & Beli (bill payment), e-Wallet, and Tarik & Setor Tunai (cash services). Business customers are served through Tabungan Ala Bisnis (business savings), Deposito Ala Bisnis (business deposits), and Giro Ala Bisnis Mudharabah (business current account). All products operate under Sharia principles using Mudharabah, Wakalah, and Ijarah contracts. The bank launched in early 2022 and serves customers via the GPN ATM network and Alfamart retail outlets.

Differentiator

Problem solved

Functional benefit

Products and services

• Aladin Premier Premier-tier digital banking product offering enhanced features positioned above the standard personal banking tier, targeted at retail customers seeking premium services.
• Ala Dompet Primary transactional savings account for daily banking needs, linked to a physical Kartu Aladin debit card and supporting free transfers between banks (with conditions).
• Ala Deposito Time deposit product using mudharabah muthlaqah contract with profit-sharing (nisbah). Tenors of 1, 3, 6, and 12 months with minimum placement of Rp 1,000,000.
• Ala Impian Goal-based savings plan allowing customers to set their own savings targets and deposit periods for planned financial goals. Customers can hold up to 20 Ala Impian accounts.
• Ala Impian Haji Specialized savings plan for the Hajj pilgrimage, helping customers accumulate funds for their Hajj trip under Sharia principles.
• Ala Impian Umrah Savings plan designed to help customers save for Umrah pilgrimage expenses under Sharia principles.
• Aladin Gen Digital savings product targeting the Gen Z segment with features tailored to younger users.
• QRIS Aladin QR code-based payment solution using the QRIS national standard, enabling customers to make and accept payments at merchants across Indonesia.
• Bayar & Beli Bill payment and purchase feature enabling customers to pay utility bills (BPJS, PBB, PDAM, electricity, internet) and make purchases within the app.
• Kartu Aladin (Debit Card) Physical debit card issued on the GPN network, usable for ATM withdrawals and merchant payments across Indonesia.
• Tarik & Setor Tunai Cash withdrawal and deposit service via ATM networks and Alfamart retail outlets across Indonesia.
• Tabungan Ala Bisnis Business savings account designed for small and medium business owners, offering Sharia-compliant savings features.
• Deposito Ala Bisnis Business time deposit product for SME customers requiring Sharia-compliant fixed-term savings.
• Giro Ala Bisnis Mudharabah Business current account (giro) based on mudharabah contract, providing Sharia-compliant transactional banking for businesses.
• Ala Berbagi Charitable giving feature allowing customers to donate easily to verified charitable organizations through the Aladin app.
• Ala Dompet Valas Foreign currency wallet product enabling international currency transactions.
• Ala Deposito Valas Foreign currency time deposit product for customers needing international currency savings.
• Aladin e-Wallet Electronic wallet functionality within the app for storing and managing digital money for transactions.

Named customers4 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Partnerships

15 partnerships are on record, tiered core, minor and flagship.

• PT Taspen PerserocoreChannel Partner/ Reseller/ Distributor · 4 July 2024Banking services partnership signed July 4, 2024. Aladin serves as banking services partner for civil servant pension fund company participants, improving service quality for all Taspen participants.
• Baznas (Badan Amil Zakat Nasional)minorStrategic or Co-development Partner · 17 April 2023Collaboration to establish Mudik Alert Posts at 20 locations along Java island routes during Ramadan 2023, providing services to travelers returning home for Eid.
• Google Cloud IndonesiacoreTechnology or Integration · 10 November 2022CTO Budi Kusmiantoro spoke at NEXT Innovation Hive event hosted by Google Cloud Indonesia on November 10, 2022. Cloud infrastructure provider for Aladin's digital banking platform.
• YABB (Yayasan Anak Bangsa Bisa)minorStrategic or Co-development Partner · 7 April 2022Collaboration on Rumah Oksigen Gotong Royong - a semi-permanent healthcare facility with oxygen cylinders and beds for Covid-19 patients. Bank Aladin provided 125 beds out of 500 total.
• BPKH (Badan Pengelola Keuangan Haji)coreStrategic or Co-development Partner · 11 October 2021MOU signed on October 11, 2021 at Hotel Bidakara, Jakarta. Collaboration to promote Hajj digitalization and improve services for Indonesian Hajj pilgrims. Aligns with the Haji Muda campaign by BPKH.
• HalodocminorChannel Partner/ Reseller/ Distributor · 12 August 2021Vaccination collaboration - Halodoc app used for vaccination registration at two centers in Alfa Tower (Alam Sutera) and Alfa DC (Balaraja) from August 12-15, 2021.
• AlfagiftcoreChannel Partner/ Reseller/ DistributorPartnership section listing - Alfagift is part of Alfamart ecosystem providing integrated services with Aladin banking products.
• Super Flip by AladinminorChannel Partner/ Reseller/ DistributorPartnership section listing - In-house fintech service under Aladin brand.
• Mekari SavingsminorChannel Partner/ Reseller/ DistributorPartnership section listing - Mekari is an Indonesian SaaS company for business software, providing savings integration.
• PERSIS SolominorStrategic or Co-development PartnerPartnership section listing - Sports club partnership for community engagement.
• Alfamart (PT Sumber Alfaria Trijaya Tbk)flagshipStrategic or Co-development PartnerPrimary strategic partner. 30,000+ Alfamart outlets enable cash deposits and withdrawals for Aladin customers. Collaborative programs include Mudik Asyik 2023 and vaccination centers. Banking as a Service (BaaS) for Alfamart ecosystem.
• MetaminorGTM or Marketing PartnerAdvertising partnership for UMKM and SMB customers. Meta enables business customers to manage advertising campaigns and monitor performance through Bank Aladin support.
• AspireminorGTM or Marketing PartnerAdvertising platform partnership providing marketing tools for UMKM and SMB customers.
• OrderOnlineminorGTM or Marketing PartnerE-commerce partnership with extensive merchant network for thousands of merchants to access banking services.
• KSE (Karya Salemba Empat)minorStrategic or Co-development PartnerEducation partnership providing scholarships, leadership skills, and financial literacy to students. Introduced Aladin products like Ala Impian (up to 20 savings accounts) and Ala Berbagi.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Bank Jago: Bank Jago is an Indonesian digital-first bank (listed on IDX) offering mobile-based savings, payments, and embedded banking through the Gojek ecosystem. Closest comparable to Aladin in terms of digital-native operating model, target demographic, and product strategy, though not Sharia-focused.
• Bank Neo Commerce (BBYB): Bank Neo Commerce (formerly Bank Yudha Bhakti) is an Indonesian digital bank pivoting to a mobile-first model with similar retail and SMB focus. Comparable in scale, digital-only distribution, and partnership-based customer acquisition, though operating as a conventional bank.
• SeaBank Indonesia: SeaBank is a digital bank affiliated with the Sea Group (Shopee) ecosystem in Indonesia, offering mobile savings and payments. Comparable in its partnership-driven distribution model and digital-first customer acquisition, though conventional (not Sharia).
• Jenius (Bank Digital BCA): Jenius is the digital banking platform of Bank Digital BCA (a subsidiary of Indonesia's largest private bank). Comparable in digital-native UX and ecosystem partnerships, though backed by a much larger incumbent parent and conventional rather than Sharia.
• Bank Raya Indonesia: Bank Raya Indonesia is a digital-focused Indonesian bank (subsidiary of BRI) targeting retail and SMB customers through mobile channels. Comparable in size and digital-only positioning, with a similar focus on embedded and partnership-led distribution.

Regional players

• Bank Mega Syariah: Bank Mega Syariah is an Indonesian Sharia commercial bank offering Islamic banking products. Comparable in Sharia compliance and product offering, but operates a traditional branch-based model rather than digital-first, making it a regional/scale peer rather than a direct competitor.
• Bank Muamalat Indonesia: Bank Muamalat Indonesia is one of Indonesia's pioneering Sharia commercial banks. Comparable in Islamic banking franchise and product set, but operates primarily through physical branches with a much larger legacy footprint than Aladin's digital-only approach.
• Bank BTPN Syariah: Bank BTPN Syariah is an Indonesian Sharia bank specializing in mass-market and underbanked segments (part of the SMBC Group). Comparable in Sharia focus and underserved-customer targeting, but with a traditional/Sharia advisory approach rather than digital-native.

Broad incumbents

• Bank Central Asia (BCA): BCA is Indonesia's largest private commercial bank with a dominant digital banking franchise (including BCA Mobile and Bank Digital BCA/Jenius). Comparable as a broad incumbent competing for the same digital banking customers, with vastly greater scale and resources.
• Bank Mandiri: Bank Mandiri is one of Indonesia's largest state-owned banks with a substantial digital banking platform (Livin' by Mandiri). Comparable as a broad incumbent with overlapping retail and SMB digital offerings, though operating across conventional and Sharia products.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/aladinbank
• Instagraminstagram.com/aladinbank.id

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds1 record

Investors1 record

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 PT Bank Aladin Syariah