VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

President Joko Widodo reminded his staff that there is still a big homework for the Indonesian nation to increase the level of inclusion and financial literacy, so it's superior to countries in Southeast Asia.

President Jokowi, when opening the National Fintech Week virtually in Jakarta, Wednesday, highlighted the new financial inclusion index in Indonesia at 76 percent.

This achievement is lower than Singapore with 98 percent, Malaysia 85 percent, and Thailand 82 percent.

"We still have great homework in developing financial technology. Our financial inclusion index is still behind compared to several ASEAN countries," said President Jokowi.

Indonesia's digital financial literacy is still low at 35.5 percent. Then, only 31.26 percent of people have ever used digital services.

"There are still many people who use informal services," said President Jokowi.

Innovators in the technology-based financial industry (fintech) do not only act as lenders and in the online payment industry but can play a major role in digital financial inclusion and literacy for the community.

Apart from that, there is also fintech can be a companion in financial planning and play a role in expanding the penetration of MSMEs to the online commerce market (e-commerce).

President Jokowi said the current fintech service has developed rapidly.

The contribution of fintech to national loan distribution in 2020 has reached IDR 128.7 trillion, an increase of 113 percent (year-on-year / YoY) compared to the same period last year.

As of September 2020, continued President Jokowi, there were 89 fintech organizers who contributed up to IDR 9.87 trillion in financial service transactions in Indonesia. Then Rp. 15.5 trillion was disbursed by fintech equity crowdfunding (ECF). (Antaranews)