The development of financial technology -Fintech in Indonesia is increasingly widespread. Until the end of 2018, the Financial Services Authority-OJK noted that there were 88 lending fintech companies that had been registered. In addition, 738 illegal or unregistered fintech at the OJK, including 211 websites and 527 applications on Android have been blocked by the Ministry of Communication and Informatics of the Republic of Indonesia. With the increasingly "booming" lending fintech in Indonesia, in 2019, lending fintech continues to grow. In fact, some lending fintech companies will cooperate with banking and e-commerce.
According to the Hinrich Foundation, a non-profit organization that focuses on global trade, the added value of digital trade for the Indonesian economy is estimated to grow eightfold from Rp125 trillion in 2017 and is estimated to be Rp.2,305 trillion by 2030.
Meanwhile, Deputy of the Creative Economy, Entrepreneurship and Foreign Power of Cooperatives and Small-Medium Enterprises -SMEs at Coordinating Ministry for Economic Affairs, Rudy Salahuddin said that even though the development of fintech is growing rapidly in Indonesia, Indonesia does not yet have national official data regarding the achievement of e-commerce or electronic commerce transactions. The reports which have been received so far are only based on the results of research reports of certain marketing research institutions.
In fact, digital trading is very promising because someone does not need to carry cash, and the convenience in each transaction can be done anywhere without obstacles even through gadgets or headphones. Electronic transactions are also prone to be carried out by parties who want to be fraudulent and criminal by stealing someone's data by hacking data and parties who carry out illegal transactions for acts of corruption. So far, corruptors have been detained by the Corruption Eradication Commission -KPK or the police in the form of red-handed operations. But if someone carries out a digital transaction or through Fintech, this will be difficult to track.
Budi Nugroho P.