Until 2021, the potential of Fintech in Indonesia is estimated to reach Rp 494 trillion

By : Ahmad Fadli Dan Aldo Bella Putra | Monday, November 13 2017 - 22:30 IWST

Ilustrasi fintech. (E+/Emir Memedovski)
Ilustrasi fintech. (E+/Emir Memedovski)

INDUSTRY.co.id - Jakarta - Indef researcher Bhima Yudistria in his research explains Fintech Indonesia's financial transaction in 2017, digital financial services estimated at US $ 18.6 billion or equivalent to Rp 247.65 trillion.

This figure increased 24 percent from the previous year's forecast of US $ 15 billion. And according to statistics, Fintech Indonesia transactions will reach US $ 37.15 billion or equivalent to Rp 494 trillion in 2021.

The total financing needs in Indonesia is Rp 1.65 quadrillion. While that can be disbursed by banks only Rp 660 trillion. So there is still a financing shortfall of Rp 990 trillion can be provided by fintech.

Currently there are 11 million small and medium micro enterprises (MSMEs) that are bankable (get bank financing).

While 49 million SMEs are still unbankable (cannot get financing from banking). The large number of UMKMs that have not been touched by the banking and geography of the archipelago make the potential of Indonesia's fintech will still grow.

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