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Jakarta Post

State pawnshop Pegadaian seeks fintech partners to develop digital financing

  • Riza Roidila Mufti

    The Jakarta Post

  /   Mon, February 17 2020   /  01:37 am

State-owned pawnshop PT Pegadaian is seeking several fintech partners to develop digital financing to expand its business and benefit from the rapidly growing sector.Pegadaian president director Kuswiyoto said on Thursday that the partnership with fintech operators was expected to further develop services the company provide in the Pegadaian Digital mobile apps.“People used to say fintech is a threat, but I say this is an opportunity because it’s going to grow big,” Kuswiyoto told a press briefing on the company’s business performance in 2019. The company has not yet disclosed its potential fintech business partners.The fintech partnership is expected to help Pegadaian’s target to grow its financing by 17 to 18 percent this year and profit by 10 percent. In 2019, Pegadaian’s profit grew 12 percent year-on-year to Rp 3.1 trillion (US$226.2 million), while outstanding financing...