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)
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.

2. Personalization

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.

6. Cybersecurity

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.

News Comment

Today's Industry

Photo: Aris Nurjani/VOI

Rabu, 28 Februari 2024 - 12:47 WIB

Carsurin and NBRI Strengthen Strategic Alliance to Propel Indonesia’s EV Industry

PT Carsurin Tbk ("Carsurin") and the National Battery Research Institute ("NBRI") are pleased to announce the signing of a pivotal Strategic Alliance Agreement (SAA), marking a significant advancement…

Beras (Foto/Rizki Meirino)

Rabu, 21 Februari 2024 - 08:43 WIB

Gov’t to Continue Disbursing Rice Assistance

President Joko “Jokowi” Widodo has ensured that the Government will continue rolling out the rice assistance program for low-income families. The President made the statement when handing…

Ilustrasi pabrik beras. (Foto: DetikFood)

Rabu, 21 Februari 2024 - 08:40 WIB

Bapanas Head Ensures Availability of Rice Stock Ahead of Ramadan

The National Food Agency (Bapanas) has ensured the availability of rice for the fasting month of Ramadan and Eid al-Fitr 1445 Hijri/2024 CE. “We believe that there is enough rice for the fasting…

Receives Chairman of Jababeka (KIJA), Menpora Dito Ready to Support the Development of Sports SEZs

Rabu, 21 Februari 2024 - 08:23 WIB

Receives Chairman of Jababeka (KIJA), Menpora Dito Ready to Support the Development of Sports SEZs

Chairman of PT Jababeka Tbk (KIJA), Setyono Djuandi Darmono met the Minister of Youth and Sports of the Republic of Indonesia (Menpora RI) Dito Ariotedjo at the Kemenpora RI Office, Senayan,…

The Indonesian Embassy in Cairo Receives Aid for Palestine

Senin, 19 Februari 2024 - 17:39 WIB

The Indonesian Embassy in Cairo Receives Aid for Palestine

The Indonesian Embassy in Cairo welcomes the Radjiman Wedyodiningrat Warship (RJW-992) which arrived at the Al Arish Port, North Sinai Province of Egypt at 8.00 A.M. Cairo local time (13/02).…