Fintech As A Financing Solution For Micro, Small and Medium Enterprises
Corresponding Author(s) : Sabda Maulana
Startupreneur Business Digital (SABDA Journal),
Vol. 1 No. 1 (2022): Startupreneur Business Digital (SABDA)
Abstract
In 2020, more than 50 new fintech enterprises were formed, these financial businesses competing with the other 140s of startups that had previously been in the Indonesian financial scene. The fintech business in Indonesia has become a prima donna, attracting a lot of attention from financial industry players. Fintech startup investment has sparked a lot of interest, and several startups have even received series A funding this year. Fintech is only getting started, and there are a lot of new products coming out. In the interim, the Service of Cooperatives and Little and Medium Organizations (Service of Little and Medium Endeavors) has sent off 3.81 million miniature, little, and medium undertakings (SMEs) that are now utilizing a web-based stage to advertise their items. This records for around 8% of Indonesia's complete 58.9 million little and medium-sized organizations. The lack of access to capital is a long-standing issue that has hampered the growth of SMEs that do not have access to bank finance. SMEs are unable to create innovations to enhance output due to a lack of financial resources. However, the increasing expansion of fintech financing businesses, such as peer-to-peer lending, has opened up another option for loan funders. Peer-to-peer lending is a type of lending that focuses on the medium and lower market segments.
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- L. Abdillah, “An Overview of Indonesian Fintech Application,” 2019.
- N. Iman, “Assessing the dynamics of fintech in Indonesia,” Investment Management and Financial Innovations, vol. 15, no. 4, pp. 296–303, 2018.
- A. Lagna and M. N. Ravishankar, “Making the world a better place with fintech research,” Information Systems Journal, vol. 32, no. 1, pp. 61–102, 2022.
- S. Blakstad and R. Allen, “FinTech Revolution,” Cham, Switzerland: Springer, pp. 121–132, 2018.
- I. Pollari, “The rise of Fintech opportunities and challenges,” Jassa, no. 3, pp. 15–21, 2016.
- K. Gai, M. Qiu, and X. Sun, “A survey on FinTech,” Journal of Network and Computer Applications, vol. 103, pp. 262–273, 2018.
- Y. Shino, C. Lukita, K. B. Rii, and E. A. Nabila, “The Emergence of Fintech in Higher Education Curriculum,” Startupreneur Bisnis Digital, vol. 1, no. 1 April, 2022.
- U. Rahardja, T. Hariguna, Q. Aini, and S. Santoso, “Understanding of behavioral intention use of mobile apps in transportation: An empirical study,” International Journal of Advanced Trends in Computer Science and Engineering, vol. 8, no. 1.5 Special Issue, pp. 258–263, 2019, doi: 10.30534/ijatcse/2019/4581.52019.
- S. Watini, Q. Aini, Alfiah. Khoirunisa, and U. Rahardja, “Assessment System for Testing the Evaluation of Diversity in Traditional Malay Dance by Early Childhood Students,” International Journal of Psychosocial Rehabilitation, vol. 24, no. 8, pp. 2721–2729, 2020, doi: 10.37200/IJPR/V24I8/PR280291.
- M. Aulia, A. F. Yustiardhi, and R. O. Permatasari, “An overview of Indonesian regulatory framework on Islamic financial technology (fintech),” Jurnal Ekonomi dan Keuangan Islam, vol. 6, no. 1, pp. 64–75, 2020.
- A.-L. Mention, “The future of fintech,” Research-Technology Management, vol. 62, no. 4. Taylor & Francis, pp. 59–63, 2019.
- H. Nusantoro, R. Supriati, N. Azizah, N. P. L. Santoso, and S. Maulana, “Blockchain Based Authentication for Identity Management,” in 2021 9th International Conference on Cyber and IT Service Management (CITSM), 2021, pp. 1–8.
- A. S. Anwar, U. Rahardja, A. G. Prawiyogi, and N. P. L. Santoso, “iLearning Model Approach in Creating Blockchain Based Higher Education Trust,” International Journal of Artificial Intelligence Research, vol. 6, no. 1, 2022.
- N. Septiani, A. S. Bist, C. S. Bangun, and E. Dolan, “Digital Business Student Development for Entrepreneurs with Software,” Startupreneur Bisnis Digital, vol. 1, no. 1 April, 2022.
- P. Gomber, J.-A. Koch, and M. Siering, “Digital Finance and FinTech: current research and future research directions,” Journal of Business Economics, vol. 87, no. 5, pp. 537–580, 2017.
- P. A. Sunarya, F. Andriyani, Henderi, and U. Rahardja, “Algorithm automaticPrawira, M., Sukmana, H. T., Amrizal, V., & Rahardja, U. (2019). A Prototype of Android-Based Emergency Management Application. 2019 7th International Conference on Cyber and IT Service Management, CITSM 2019. https://doi.org/10.1109/CI,” International Journal of Advanced Trends in Computer Science and Engineering, vol. 8, no. 1.5 Special Issue, pp. 387–391, 2019, doi: 10.30534/ijatcse/2019/6281.52019.
- M. R. Anwar, M. Yusup, S. Millah, and S. Purnama, “The Role of Business Incubators in Developing Local Digital Startups in Indonesia,” Startupreneur Bisnis Digital, vol. 1, no. 1 April, pp. 1–10, 2022.
- I. U. Rahardja and S. Raharja, “Artificial informatics,” 2009 4th IEEE Conference on Industrial Electronics and Applications, ICIEA 2009, pp. 3064–3067, 2009, doi: 10.1109/ICIEA.2009.5138764.
- U. Rahardja, Q. Aini, and A. Khoirunisa, “The Effect of Rinfogroups as a Discussion Media in Student Learning Motivation,” Aptisi Transactions on Management (ATM), vol. 2, no. 1, pp. 79–88, 2018.
- U. Rahardja, A. Moeins, and N. Lutfiani, “Leadership, competency, working motivation and paerformance of high private education lecturer with institution accreditation B: Area kopertis IV Banten province,” Man India, vol. 97, no. 24, pp. 179–192, 2017.
- U. Rahardja, Q. Aini, and M. Iqbal, “Optimalisasi Reward Pada Penilaian Absensi Berbasis Gamifikasi Untuk Meningkatkan Motivasi Mahasiswa,” InfoTekJar: Jurnal Nasional Informatika dan Teknologi Jaringan, vol. 5, no. 1, pp. 40–43, 2020.
- U. Rahardja, Q. Aini, A. Khairunisa, and S. Millah, “Implementation of Blockchain Technology in Learning Management System (LMS),” APTISI Transactions on Management (ATM), vol. 6, no. 2, pp. 112–120, 2022.
- S. Watini, H. Latifah, D. Rudianto, and N. A. Santoso, “Adaptation of Digital Marketing of Coffee MSME Products to Digital Transformation in the Era of the Covid-19 Pandemic,” Startupreneur Bisnis Digital, vol. 1, no. 1 April, pp. 23–32, 2022.
- U. Rahardja, Q. Aini, and S. Maulana, “Blockchain innovation: Current and future viewpoints for the travel industry,” IAIC Transactions on Sustainable Digital Innovation (ITSDI), vol. 3, no. 1, pp. 8–17, 2021.
- H. Nusantoro, P. A. Sunarya, N. P. L. Santoso, and S. Maulana, “Generation Smart Education Learning Process of Blockchain-Based in Universities,” Blockchain Frontier Technology, vol. 1, no. 01, pp. 21–34, 2021.
- Q. Aini, A. Anoesyirwan, and Y. Ana, “Effect of Cloud Accounting as income statement on Accountant Performance,” Aptisi Transactions On Management, vol. 4, no. 1, pp. 13–21, 2019.
- Q. Aini, I. Dhaniarti, and A. Khoirunisa, “Effects of iLearning Media on Student Learning Motivation,” Aptisi Transactions on Management (ATM), vol. 3, no. 1, pp. 1–12, 2019.
- Q. Aini, U. Rahardja, and A. Khoirunisa, “Blockchain Technology into Gamification on Education,” IJCCS (Indonesian Journal of Computing and Cybernetics Systems), vol. 14, no. 2, pp. 1–10, 2020, doi: 10.22146/ijccs.53221.
- V. Rotondi, L. Stanca, and M. Tomasuolo, “Connecting alone: Smartphone use, quality of social interactions and well-being,” Journal of Economic Psychology, vol. 63, pp. 17–26, 2017.
- D. Aprilia and D. E. Susilo, “Pengelolaan Keuangan Desa Dalam Upaya Meningkatkan Pembangunan Desa dan Pemberdayaan Masyarakat Desa,” Technomedia Journal, vol. 6, no. 2 Februari, pp. 197–211, 2022.
References
L. Abdillah, “An Overview of Indonesian Fintech Application,” 2019.
N. Iman, “Assessing the dynamics of fintech in Indonesia,” Investment Management and Financial Innovations, vol. 15, no. 4, pp. 296–303, 2018.
A. Lagna and M. N. Ravishankar, “Making the world a better place with fintech research,” Information Systems Journal, vol. 32, no. 1, pp. 61–102, 2022.
S. Blakstad and R. Allen, “FinTech Revolution,” Cham, Switzerland: Springer, pp. 121–132, 2018.
I. Pollari, “The rise of Fintech opportunities and challenges,” Jassa, no. 3, pp. 15–21, 2016.
K. Gai, M. Qiu, and X. Sun, “A survey on FinTech,” Journal of Network and Computer Applications, vol. 103, pp. 262–273, 2018.
Y. Shino, C. Lukita, K. B. Rii, and E. A. Nabila, “The Emergence of Fintech in Higher Education Curriculum,” Startupreneur Bisnis Digital, vol. 1, no. 1 April, 2022.
U. Rahardja, T. Hariguna, Q. Aini, and S. Santoso, “Understanding of behavioral intention use of mobile apps in transportation: An empirical study,” International Journal of Advanced Trends in Computer Science and Engineering, vol. 8, no. 1.5 Special Issue, pp. 258–263, 2019, doi: 10.30534/ijatcse/2019/4581.52019.
S. Watini, Q. Aini, Alfiah. Khoirunisa, and U. Rahardja, “Assessment System for Testing the Evaluation of Diversity in Traditional Malay Dance by Early Childhood Students,” International Journal of Psychosocial Rehabilitation, vol. 24, no. 8, pp. 2721–2729, 2020, doi: 10.37200/IJPR/V24I8/PR280291.
M. Aulia, A. F. Yustiardhi, and R. O. Permatasari, “An overview of Indonesian regulatory framework on Islamic financial technology (fintech),” Jurnal Ekonomi dan Keuangan Islam, vol. 6, no. 1, pp. 64–75, 2020.
A.-L. Mention, “The future of fintech,” Research-Technology Management, vol. 62, no. 4. Taylor & Francis, pp. 59–63, 2019.
H. Nusantoro, R. Supriati, N. Azizah, N. P. L. Santoso, and S. Maulana, “Blockchain Based Authentication for Identity Management,” in 2021 9th International Conference on Cyber and IT Service Management (CITSM), 2021, pp. 1–8.
A. S. Anwar, U. Rahardja, A. G. Prawiyogi, and N. P. L. Santoso, “iLearning Model Approach in Creating Blockchain Based Higher Education Trust,” International Journal of Artificial Intelligence Research, vol. 6, no. 1, 2022.
N. Septiani, A. S. Bist, C. S. Bangun, and E. Dolan, “Digital Business Student Development for Entrepreneurs with Software,” Startupreneur Bisnis Digital, vol. 1, no. 1 April, 2022.
P. Gomber, J.-A. Koch, and M. Siering, “Digital Finance and FinTech: current research and future research directions,” Journal of Business Economics, vol. 87, no. 5, pp. 537–580, 2017.
P. A. Sunarya, F. Andriyani, Henderi, and U. Rahardja, “Algorithm automaticPrawira, M., Sukmana, H. T., Amrizal, V., & Rahardja, U. (2019). A Prototype of Android-Based Emergency Management Application. 2019 7th International Conference on Cyber and IT Service Management, CITSM 2019. https://doi.org/10.1109/CI,” International Journal of Advanced Trends in Computer Science and Engineering, vol. 8, no. 1.5 Special Issue, pp. 387–391, 2019, doi: 10.30534/ijatcse/2019/6281.52019.
M. R. Anwar, M. Yusup, S. Millah, and S. Purnama, “The Role of Business Incubators in Developing Local Digital Startups in Indonesia,” Startupreneur Bisnis Digital, vol. 1, no. 1 April, pp. 1–10, 2022.
I. U. Rahardja and S. Raharja, “Artificial informatics,” 2009 4th IEEE Conference on Industrial Electronics and Applications, ICIEA 2009, pp. 3064–3067, 2009, doi: 10.1109/ICIEA.2009.5138764.
U. Rahardja, Q. Aini, and A. Khoirunisa, “The Effect of Rinfogroups as a Discussion Media in Student Learning Motivation,” Aptisi Transactions on Management (ATM), vol. 2, no. 1, pp. 79–88, 2018.
U. Rahardja, A. Moeins, and N. Lutfiani, “Leadership, competency, working motivation and paerformance of high private education lecturer with institution accreditation B: Area kopertis IV Banten province,” Man India, vol. 97, no. 24, pp. 179–192, 2017.
U. Rahardja, Q. Aini, and M. Iqbal, “Optimalisasi Reward Pada Penilaian Absensi Berbasis Gamifikasi Untuk Meningkatkan Motivasi Mahasiswa,” InfoTekJar: Jurnal Nasional Informatika dan Teknologi Jaringan, vol. 5, no. 1, pp. 40–43, 2020.
U. Rahardja, Q. Aini, A. Khairunisa, and S. Millah, “Implementation of Blockchain Technology in Learning Management System (LMS),” APTISI Transactions on Management (ATM), vol. 6, no. 2, pp. 112–120, 2022.
S. Watini, H. Latifah, D. Rudianto, and N. A. Santoso, “Adaptation of Digital Marketing of Coffee MSME Products to Digital Transformation in the Era of the Covid-19 Pandemic,” Startupreneur Bisnis Digital, vol. 1, no. 1 April, pp. 23–32, 2022.
U. Rahardja, Q. Aini, and S. Maulana, “Blockchain innovation: Current and future viewpoints for the travel industry,” IAIC Transactions on Sustainable Digital Innovation (ITSDI), vol. 3, no. 1, pp. 8–17, 2021.
H. Nusantoro, P. A. Sunarya, N. P. L. Santoso, and S. Maulana, “Generation Smart Education Learning Process of Blockchain-Based in Universities,” Blockchain Frontier Technology, vol. 1, no. 01, pp. 21–34, 2021.
Q. Aini, A. Anoesyirwan, and Y. Ana, “Effect of Cloud Accounting as income statement on Accountant Performance,” Aptisi Transactions On Management, vol. 4, no. 1, pp. 13–21, 2019.
Q. Aini, I. Dhaniarti, and A. Khoirunisa, “Effects of iLearning Media on Student Learning Motivation,” Aptisi Transactions on Management (ATM), vol. 3, no. 1, pp. 1–12, 2019.
Q. Aini, U. Rahardja, and A. Khoirunisa, “Blockchain Technology into Gamification on Education,” IJCCS (Indonesian Journal of Computing and Cybernetics Systems), vol. 14, no. 2, pp. 1–10, 2020, doi: 10.22146/ijccs.53221.
V. Rotondi, L. Stanca, and M. Tomasuolo, “Connecting alone: Smartphone use, quality of social interactions and well-being,” Journal of Economic Psychology, vol. 63, pp. 17–26, 2017.
D. Aprilia and D. E. Susilo, “Pengelolaan Keuangan Desa Dalam Upaya Meningkatkan Pembangunan Desa dan Pemberdayaan Masyarakat Desa,” Technomedia Journal, vol. 6, no. 2 Februari, pp. 197–211, 2022.