scholarly journals The Role of Financial Technology Toward Financial Inclusion in Indonesia: Chance and Challenge

2018 ◽  
Author(s):  
Lino Harsih Khaerunnisa
Keyword(s):  
Financial Inclusion ◽  
Financial Technology

scholarly journals Financial Technology (Fin-Tech): Revolutionizing the Indian Agrarian Sector

2020 ◽  
Vol 8 (12s3) ◽  
pp. 1-8
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Risk Sharing ◽  
Financial Inclusion ◽  
Indian Government ◽  
Agricultural Finance ◽  
Agricultural Growth ◽  
Two Factors ◽  
Financial Technology

Agriculture is the largest employer of India which constitutes 50% of its workforce and also a contributor to 17-18% in its GDP. Still, it is one of the most disorganized and disjointed sector.Somewhere this sector has not been given due attention and itcan be proven with the fact that the GDP contribution of this sector has fallen from 43% to 18% (1970- 2018).Though the Indian Government is digitally driving to provide financial inclusion to more than 145 million households that are not having access to banking services but still the farmers aremajorlyusing traditional credit for their basic and main two factors; Production & Consumption (Distribution). The financial segment has an important role to make agriculture aprime contributorto the economic growth of the country and also in reducing poverty. A fast-evolving technological landscape is bringing up new potential to focus&provide credit, risk-sharing, and to explore technology to enhance agricultural productivity. Our paper firstly examines agricultural finance in the Indian context and then discusses how financial technology (Fin-Tech) can drive new products in credit and risk markets in India. We evaluate the role of mobile banking, financial literacy, digital financial services, digital financial technology, and block-chain technology. The paper is concluded with a discussion of policy takeaways for Fin-Tech in agriculture to promote agricultural growth, enhance financial inclusion, and improve regional economic integration through agriculture.

scholarly journals The role of financial technology on development of MSMEs

Accounting ◽  
2021 ◽  
pp. 225-230
Author(s):  
Ica Rika Candraningrat ◽  
Nyoman Abundanti ◽  
Ni Wayan Mujiati ◽  
Ray Erlangga ◽  
I Made Gilang Jhuniantara
Keyword(s):  
Small And Medium Enterprises ◽  
Financial Inclusion ◽  
The Public ◽  
National Economic ◽  
Capital Development ◽  
Medium Enterprises ◽  
Access Services ◽  
Financial Technology

The purpose of this research is to describe the role of Financial Technology in enhancing financial inclusion in the Micro, Small and Medium Enterprises (MSMEs) industry through accessibility and assistance. MSMEs play a very important role in increasing regional and national economic growth. There are various types of MSMEs that are scattered throughout Indonesia with the main problem being capital. The rapid growth of FinTech's financing business is currently an alternative that can be accessed by all levels of society through financial inclusion, which is one way to socialize the financial sector specially to facilitate financial access services for the public. The population in this study were members of Dekranasda (Dewan Kerajinan Nasional Daerah) Denpasar assisted and the determination of samples was based on purposive sampling method which includes people involved in a weaving craft business and have been fostered for at least 3 years. The method of data collection is by questionnaires, documentation and interviews. The method of data analysis in this study is the instrument test, classic assumption test, and hypothesis testing with the SPSS program. Based on the results of the analysis of accessibility and assistance, financial technology has a significant positive effect on capital development. By funding MSMEs, lenders get investment alternatives with attractive returns. On the other hand, MSMEs borrowers get business capital loans without collateral with an easy and fast online process.

scholarly journals THE ROLE OF FINANCIAL SERVICES AUTHORITY IN THE CONSUMER PROTECTION AMID THE GROWTH OF FINTECH INDUSTRY IN INDONESIA

2019 ◽  
Vol 31 (2) ◽  
pp. 297 ◽  
Author(s):  
Johanes Widijantoro
Keyword(s):  
Consumer Protection ◽  
Financial Literacy ◽  
Financial Services ◽  
The Body ◽  
Financial Inclusion ◽  
The Other ◽  
Other Hand ◽  
Financial Technology

The growth of the financial technology (fintech) industry is a necessity as an effort to make financial services more practical and efficient. On the other hand, consumers of financial services are still low in financial literacy levels, especially in considering various risks that can occur in dealing with the fintech industry. Indonesian Financial Services Authority (OJK) is the body responsible for carrying out the protection of consumers of financial services. This article describes how legal matters in the fintech business, which are actually useful and can encourage financial inclusion, but on the other hand have the potential to harm consumers if they are not properly regulated. Existing related OJK Regulations would be examined and what things should be regulated by the OJK so that consumers of financial services are protected amid the development of fintech, will also be elaborated in this article. This article respectively describes the rationality of consumer protection in the financial services, the dynamics of fintech growth and its problems, and an analysis of the role of OJK in the era of fintech industry.

scholarly journals Sharia Financial Technology in the Development of Bankable Micro Businesses

2020 ◽  
Vol 11 (6) ◽  
pp. 203
Author(s):  
Nunung Rodliyah ◽  
Recca Ayu Hapsari ◽  
Aditya Mahatidanar Hidayat ◽  
Lukmanul Hakim ◽  
Ade Oktariatas K
Keyword(s):  
Financial Institutions ◽  
Financial Inclusion ◽  
Major Influence ◽  
Islamic Banking ◽  
Financial Industry ◽  
Lower Middle Class ◽  
Islamic Financial Institutions ◽  
Banking Institutions ◽  
Financial Technology

Fintech is one of the drivers of the existence of a movement to improve MSME finance, especially the lower middle class through Islamic financial institutions. The development of digital technology, including in the Islamic financial industry, has had a major influence with the existence of financial technology (fintech), all forms of transactions are faster, easier, and more efficient, without the need to meet in person. Financial technology collaboration with Islamic financial institutions, especially Islamic banking can increase financial inclusion at MSMEs in Indonesia. The implementation of Fintech in the Islamic banking industry will facilitate and bring business players closer, especially MSMEs to access Islamic financial service products offered and apply for financing directly without having to go directly to the branch offices. Such a model, in addition to making it easier for MSME sector business people to gain financial access, can also improve financial inclusion and improve the performance of Islamic banks. Efforts to increase the capacity of micro businesses that were originally unbankable can be increased to bankable. Where the role of related institutions such as banking and fintech, which is currently becoming popular in the community, can contribute and build micro businesses to become more independent and encourage economic development in Indonesia with the collaboration of banking institutions and micro businesses in financing.

scholarly journals Financial Technology and Financial Inclusion on MSME:Mixed-Method Research Approach

2020 ◽  
Vol 7 (2) ◽  
pp. 232-236
Author(s):  
Lela Nurlaela Wati ◽  
Heri Isprihayadi ◽  
Khoirun Nisa ◽  
Mohamad Lutfi ◽  
Imam Suprapta
Keyword(s):  
Financial Services ◽  
Small And Medium Enterprises ◽  
Financial Inclusion ◽  
Third Party ◽  
Research Approach ◽  
Mixed Method Research ◽  
Payment Systems ◽  
The Government ◽  
Financial Technology

This study aims to examine the role of financial technology in increasing financial inclusion in Micro, Small, and Medium Enterprises. This research uses mixed-method research with sequential mixed methods especially sequential explanatory strategy. In the first phase, 116 questionnaires were given to respondents as many as 116 MSMEs then conducted interviews with respondents and related parties in depth. Empirical evidence shows that the role of Financial Technology has a positive and significant effect on Financial Inclusion. These results indicate that fintech can increase financial inclusion. Based on interviews, fintech products that are often used by MSMEs are third-party payment systems and Peer-to-Peer (P2P) type of payment systems. Examples of platforms that are often used by MSMEs are Go food, Gopay, Grab food, OVO, JakOne, M-Banking, and SMS Banking. For the Crowdfunding fintech type, it has not been implemented by many MSMEs. The large number of MSME entrepreneurs who have used fintech products in their businesses shows that MSME entrepreneurs have used financial services in the form of savings accounts so that it has an impact on increasing financial inclusion. Suggestions from the results of this study are the Government needs to conduct regular training on the use of financial technology to MSME actors, there are strong synergy and cooperation in developing a fintech system to improve the digital economic system at MSMEs. Regulations need to be updated with the development of innovations.

scholarly journals Ecosystem dynamics: exploring the interplay within fintech entrepreneurial ecosystems

2021 ◽  
Author(s):  
Ahmad Alaassar ◽  
Anne-Laure Mention ◽  
Tor Helge Aas
Keyword(s):  
New Ventures ◽  
Ecosystem Dynamics ◽  
Resource Exploitation ◽  
Cultural Perspective ◽  
Structured Interviews ◽  
Opportunity Identification ◽  
Entrepreneurial Ecosystems ◽  
Regulatory Dynamics ◽  
Financial Technology

AbstractScholars and practitioners continue to recognize the crucial role of entrepreneurial ecosystems (EEs) in creating a conducive environment for productive entrepreneurship. Although EEs are fundamentally interaction systems of hierarchically independent yet mutually dependent actors, few studies have investigated how interactions among ecosystem actors drive the entrepreneurial process. Seeking to address this gap, this paper explores how ecosystem actor interactions influence new ventures in the financial technology (fintech) EE of Singapore. Guided by an EE framework and the use of an exploratory-abductive approach, empirical data from semi-structured interviews is collected and analyzed. The findings reveal four categories representing both the relational perspective, which features interaction and intermediation dynamics, and the cultural perspective, which encompasses ecosystem development and regulatory dynamics. These categories help explain how and why opportunity identification and resource exploitation are accelerated or inhibited for entrepreneurs in fintech EEs. The present study provides valuable contributions to scholars and practitioners interested in EEs and contributes to the academic understanding of the emerging fintech phenomenon.

Sign in / Sign up

Export Citation Format

Share Document