TheJakartaPost
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The Indonesia Fintech Lending Association (AFPI) has asserted that cooperation between fintech platforms and universities is “not prohibited” by the fintech regulation, provided there is “prudent and compliant credit due diligence”.
By partnering with traditional banks, fintech lenders can benefit from existing infrastructure and expertise, while traditional banks can leverage fintech lenders' technological capabilities to streamline loan applications and improve customer experience.
One solution to bridging the financial inclusion gap in Indonesia is ICS, which enables lenders to assess a loan applicant's creditworthiness through nontraditional data points, like utility payments and e-commerce transactions.
Indonesian policymakers and fintech companies, as well as investors, can realize the country's huge potential for fintech adoption and value creationre by taking a proactive and holistic approach to fintech evolution.
At least two major Indonesian superapp firms have cut down the services they offer in favor of their core, profitable operations, a strategy analysts say could be key to keeping the companies competitive as more players enter the market.
