1. Startups

Paying Attention to 2023 Fintech Lending Data, Positive Signals of Industry Growth

AFPI said there had been significant improvements in the risk management system, claiming it had successfully overcome previous issues

The latest OJK data, as of October 9 2023, there are 101 companies registered. This number has been relatively stagnant in recent years (the rise and fall has not reached double digits). However, other statistics continue to experience exponential increases.

For example, in terms of total assets, by the end of 2023 the value reached IDR 7.043 billion, up 27,7% compared to 2022. Meanwhile, liabilities were IDR 3.575 billion, up 44,8% and equity IDR 3.468 rose slightly by 13,9%.

Growth space still wide open. Referring to Bank Indonesia data, 97,8 million people or 48% of the total population of Indonesia do not have access to banking services (unbanked). On the other hand, of the more than 60 million MSMEs in Indonesia, only around 27,6% have received credit facilities from formal institutions. There are various factors, ranging from financial education to limited access.

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