Google Indonesia Report: More than 70% of Indonesians Are Looking for Financial Information Online

As one of the most popular search engines, Google has become part of the daily routine of many people to find information and recommendations online. One of the most sought-after information by people is financial information, money loans to savings. More services fintech (financial technology) now it has attracted the attention of many people to find the right loan at this time.

Seeing the great interest from the crowd, Google Indonesia launched a new “Think Finance” report from Google and Kantar/TNS, which provides an overview of the complex process customers go through before making a purchase. This survey was conducted through interviews with 501 Indonesian internet users who took out personal loans or applied for credit cards in the past year.

A clear description of the appropriate loan

Some interesting data generated from the research revealed, as many as 74% of people or customers did research online before determining the right loan for them. Meanwhile, the average time from first thinking to finally buying a product is 26 days. The main reasons customers take out loans include emergencies (37%) and major life events such as getting married or having a baby (26%). Indonesians ask an average of 11 questions to get the answers they need.

Another interesting fact presented in the report is that people usually use both offline and online references in their research, and Google Search being the second most useful source of information. At least half (54%) of Indonesians say they seek information to help sift through options and find the best features.

Another thing that was also conveyed from the report was, the magnitude of the influence from testimonials to recommendations circulating online regarding banks to financial services that have been used. This screening process is carried out by at least 7 out of 10 people (72%) making online reviews and recommendations while 4 out of 10 people (42%) do further research after taking out a loan.

Lack of financial information from relevant agencies

The large number of Indonesians who search online using Google Search proves that currently the information available on bank sites and financial services has not satisfied many people. At least 8 in 10 people (83%) do not have or lack information about how to apply for a credit card or personal loan and they are less likely to look up information on financial company websites, less than one in ten people (6%) do.

For this reason, Google recommends that related parties be able to provide relevant and less complicated information for customers or potential customers. Thus it can help them find information easily online.