Digital Financing to Empower Indonesia's Economic Growth

- 12 January 2022 08:30 WIB
Collaboration is key. (Unsplash/Cytonn Photography)
Collaboration is key. (Unsplash/Cytonn Photography)

JAKARTADAILY.ID - Collaboration in the era of digital financial innovations leads to the formation of the digital financial ecosystem, which includes financial technology also known as fintech.

Synergies should be created with the goal of generating jobs and turning the wheels of the economy while empowering Micro, Small, and Medium Enterprises (MSMEs). The Financial Services Authority (OJK) is also supportive of the creation of this collaboration.

Take an example from Investree, a financial technology firm, who is striving to establish a digital financial ecosystem for the purpose of accelerating the realization of financial inclusion. In order to establish their own ecosystem to survive the digital era, they have established collaboration with several partners.
It's a platform that connects buyers, vendors, and finance providers, allowing them to communicate and cooperate. The procurement process may be made more productive and efficient by employing digital platforms. Procurement partners also don't have to worry about raising funds for their projects because the platform will provide loans up to 2 billion rupiahs so that it will help with the cash flow.

They offer cashier software that can be accessed from both online and offline locations. Their merchants can register for a business loan of up to 2 billion rupiahs straight through Investree. It helps their business to grow more easily if they are no longer facing financial challenges.

Bukalapak, an Indonesian marketplace platform, has been having a dramatic increase in sellers. They already have 6 million sellers by 2020. Vendors can now qualify for an Online Seller Financing business loan via BukaModal and get much easier sales due to the partnership with Investree. Pelapak can apply for the loan if the total of their monthly sales has exceeded 2 million rupiahs.

Midtrans has teamed up with Investree to give small businesses access to merchant financing. These funds can be put to good use in the digital economy, such as managing cash flow, stock, expanding a firm, or covering unexpected expenses.

Investree's collaboration with eFishery is to support financing worth 30 billion rupiahs for fish cultivators in Indonesia. They are welcome to have an installment program when they want to purchase eFishery products. According to data, as many as 88% of micro-businesses have run out of cash/savings and more than 60% of small businesses have reduced their workforce. It is also possible for the financing facility to be utilized by B2B agents and customers.

Editor: Djauhari Effendi


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