1. Startups

Friends' Money Plans and Focus in 2019

Immediately launch sharia-based micro online loans

Platform online loan UangTeman (PT Digital Alpha Indonesia) claims to have managed to record a positive performance during 2018. It has disbursed a total loan of more than 430 billion Rupiah. This value increased by almost 200% compared to the previous year. In addition to the rapid growth in lending, UangTeman has also managed to maintain the level of non-performing loans (NPL) below 3%.

Earlier in November 2018, UangTeman announced its plans to carry out expansion to the Philippines. Until now, the plan is still the focus of UangTeman, but it is still in the development and research stage by the internal team.

Throughout 2018, UangTeman's online loans were distributed to more than 50 thousand new customers throughout Indonesia with nearly 200 thousand loan applications. Meanwhile, 74% of the submissions are recurring submissions. In terms of loan use, the majority of the funds are used for business capital needs and other emergency fund needs, such as education, health costs, and other consumption.

"The achievement of our loan disbursement in 2018 is a good foundation to book greater growth in 2019. If you look at the average annual growth since our inception (in 2015) of almost 300%, this proves that the business model and product Short-term online micro loans have been well received by the public," said President Director of UangTeman Aidil Zulkifli.

Apply "credit underwriting"

In 2019, UangTeman also has plans to develop relevant technologies for the benefit of customers. One of them is the application ofcredit underwriting", which is a technology developed by Indonesia to accelerate credit risk analysis of prospective customers using big data and machine learning.

"Many think that the application of credit underwriting who are careful solely to protect the interests of the company. However, in fact this is precisely to protect the community or the borrower himself so that in the future there will be no difficulty in repaying the loan funds. We are very selective in providing credit approval, so that acceptance rate we don't reach a quarter of the total submissions each month," said Aidil.

Friends' Money Plans in 2019

To date, UangTeman has 68 thousand customers, while in terms of loan use, the majority of the funds are used for business capital needs and other emergency fund needs.

To give customers more choices, UangTeman also has plans to launch a number of new products to expand its product range payday loan currently available. One of them is by launching a sharia-based micro online loan product.

The presence of this service is a strategic step for the company to expand market segments and reach more groups of people who can benefit. Currently, micro online loan products with sharia principles are still being developed.

"If the average growth trend of UangTeman is doubling per year, then in 2019 we will certainly aim for more or less the same growth," said Aidil.

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