One of the interesting themes discussed in the COMSNETS Indonesia 2017 conference is about fintech services (financial technology). Fintech is basically an innovation in the financial sector that utilizes digital technology.
The existence of fintech is expected to bring in a more practical and secure financial transaction process. The process of financial transactions includes the process of payment, the process of borrowing money, transfers, or stock buying and selling.
Adoption of this technology is expected to bring new colors and ease of service in the financial world. As well as complete the chain of financial transactions, improve living standards, fight against loan sharks. In the future, fintech is expected to give the money loan system in a transparent way.
That way, the public can find out what percentage of interest to be paid, how many monthly installments and how long tenor loans are available. Various speakers in conference COMSNETS Indonesia 2017 believe that innovation of digital financial development is very useful and have a positive impact when applied in Indonesia.
Related to that, Vice Chairman of KADIN Indonesia Ilham Habibie responded that the presence of Fintech cannot be avoided as a result of innovation in the progress of digital economic services in Indonesia. “Most of the Indonesian people already know that fintech is growing rapidly, just look at how many startup companies that move there, such as start-up,” said Ilham Habibie as a speaker COMSNETS at Fairmount Hotel, Jakarta (5/10).
He added that for now the existence of Fintech in Indonesia is mostly still in the early stages in terms of payments such as P2P (peer to peer) lending.
“But on the one hand, most of the people of Indonesia are still not many who understand about the fintech service and also the security system that still needs to be improved. Because where there is technology there must be people who abuse it, “said the son of former President BJ Habibie this.
To note some startup in the fintech category there are already some that exist in Indonesia. Among other things, CekAja, MoneyFriends, Borrowing, CekPremi, Bareksa, Kejora, Doku, Veritrans, Kartuku, and Amartha. Even some time ago, has formed the association of financial technology company called FinTech Indonesia.
Ilham also agrees with a World Economic Forum (2015) report that predicts Indonesia will become one of the largest digital markets in Southeast Asia by 2020. This reinforces digital finance opportunities, reinforced by the fact that only about 36 percent of adults in Indonesia have accounts banks or about 120 million people fall into the unbanked category.
When viewed from the existing phenomenon, the presence of Fintech will be able to assist Indonesia in developing technology in the field of finance. Supported by the consumptive nature of Indonesian society, including on technology, innovation in the development of digital finance in Indonesia will rapidly grow.