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Fintech firms offer to help disburse govt COVID-19 funds
The government remains undecided about the suggestion.
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The Indonesian Fintech Lenders Association (AFPI) has offered to help accelerate the disbursement of national economic recovery program (PEN) funds as the government struggles to amass the data needed to deliver the money to the right places. (Shutterstock/File)
T
he Indonesian Fintech Lenders Association (AFPI) has offered to help accelerate the disbursement of national economic recovery program (PEN) funds as the government struggles to amass the data needed to deliver the money to the right places.
AFPI chairman Adrian Gunadi said on Thursday that because the fintech lending industry catered to the unbanked, the platforms could help the government target micro, small and medium enterprises (MSMEs).
He said the industry had a data center and analytics capabilities that could help address the disbursement challenges. The data center contains information on more than 25 million enterprises, which fintech platforms use to build credit profiles.
“The presence of fintech lending platforms – either in the consumptive or productive sector and especially for SMEs – [could play] a big role in supporting the national economic recovery effort,” said Adrian, who is also CEO of peer-to-peer (P2P) lender Investree.
Read also: P2P lending helps SMEs earn more, scale up business: Research
“Data has been one of the focal points of the P2P lending industry.”
As of June, AFPI members had granted Rp 113.46 trillion in loans this year, an increase of 153 percent year-on-year (yoy). This was aided by collaborations with other stakeholders in the ecosystem, including e-commerce platforms.
