Let See Six Trends in Fintech Industry 2018
By : Ahmad Fadli Dan Aldo Bella Putra | Sunday, January 14 2018 - 19:00 IWST
Ilustrasi fintech. (E+/Emir Memedovski)
INDUSTRY.co.id - Jakarta - Indonesia is a vast country, with abundant population and tremendous business potential. One of the things that can drive the wheels of the economy in Indonesia is the disbursement of loans for businessmen who are in need of capital.
According to data from the Financial Services Authority (OJK) in 2016, the national financing (loan) needs reached Rp1,600 trillion. Unfortunately, only about Rp600 trillion of which can be served by banks and other financial institutions. This means, there is still a shortfall of about Rp1, 000 trillion.
Then how is the development of Fintech in 2018 this? According to the Indonesian Chamber of Commerce (Kadin), fintech investment in 2018 is predicted to reach Rp 105.6 trillion. According to data from Statista, fintech transactions in Indonesia will reach USD 23.8 billion in 2018.
Digital Artha Media (DAM) Corporation as one of the startup fintech with some products such as Mandiri e-cash and Line Pay e-cash gives an overview of the fintech trend in 2018.
1. Collaboration with banking
It said Managing Director of DAM Corporation, Fanny Verona, next year there is a big tendency for banks to collaborate with fintech companies.
"We are seeing a trend that there will be a strong synergy between banks and fintech companies," said Fanny Verona, in Fintech Outlook 2018. "With this collaboration, it is expected that banks are also able to reach more unbanked customers who are already using fintech services or products.
The second trend is the utilization of automated personalization, in which banks will utilize the power of fintech to personalize offerings that users can see on all their devices. Banks may also present promos tailored to their end-user banking habit.
3. Voice recognition
"The third trend is the Voice User Intervace technology (VUI) presented by friends in the smartphone industry. This technology allows users to control the features of the product in the device using only the sound," he said.
VUI technology is growing quickly because it offers a faster, easier and fun way of commands. With this technology, users can transfer, check balances and other financial activities only by voice.
4. Asia as the host
The next trend says that Asia will be home to fintech investments.
5. Increased mobile transactions
Then mobile technology innovation will also continue to grow. Fanny said, one of the fintech trends throughout the year is the emergence of mobile transactions, especially those associated with consumer purchase. Thus, the fintech company integrates this technology into the application to optimize the offer through the mobile platform. This trend is predicted to continue in 2018 later.
The sixth trend relates to security, privacy, and trust that will continue to be a challenge. Fanny asserts, during the year 2018 and the following years, fintech companies that want a good market share, need to be proactive and positioning aspects of security and consumer protection as their main weapon in reaching users.