Achiko and Sonect collaborating

Achiko is an Indonesian fintech company listed on the Swiss SIX exchange that would like to strengthen its presence in Switzerland. It recently announced a partnership with Hypothekarbank Lenzburg and is now working together with Sonect, a start-up from Zurich. According to a press release, Achiko and Sonect hope to link their technologies and together offer “innovative and forward-looking payment solutions” to the Swiss market. 

Sonect has developed an app that can be used to withdraw cash using a cell phone. No ATM is needed. The money can be paid out at the next purchase or when visiting a restaurant, for example. The press release states that the partnership will now enable Achiko’s end users to withdraw cash at over 2,300 Sonect stores in Switzerland. Additionally, the collaboration will put Achiko in a position to offer a comprehensive range of financial services to the client segment already developed by Sonect outside of Switzerland.

Christopher Young, COO of Achiko states: “This represents a significant step for Achiko as it allows us to strengthen our presence in Switzerland and makes way for expansion on a global scale. Our cooperation with Sonect will help us create the most compelling digital local communities, empowering their members to connect and engage, through the use of tailor-made digital financial services.”