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Jakarta Post

Amartha, PrivyID team up for easier digital verification

  • The Jakarta Post

Jakarta   /   Mon, December 10 2018   /  03:10 am

Peer-to-peer (P2P) lending provider Amartha has announced its collaboration with digital signature provider PrivyID to enable easier identification verification and a more secure digital know your customer (KYC) method.The collaboration is part of Amartha’s strategy to reach more investors and microentrepreneurs, many of which operate in remote areas.Amartha vice president Aria Widyanto said many microentrepreneurs were still unbanked and lacked access to funding. According to the World Bank Global Findex 2017, Indonesia made the most progress in financial inclusion across East Asia and the Pacific with 48.9 percent bank account ownership in 2017 from 36 percent in 2014 and 20 percent in 2011. However, the latest data also shows that 51 percent of the country’s population do not have a bank account, leaving them at risk of financial illiteracy. Speaking at a discussion on digital sig...