As part of Covid-19 response, the Indonesian government has launched a number of nationwide recovery (PEN) programs, and Bank Mandiri is one of the state-owned banks to be one of the channeling partners. As part of the PEN programs, the
Financial Services Authority (OJK) plans to increase fintech lending for productive loans from 35.7% currently to ~60% of total loans disbursed by 2024. Consumer or personal loans currently dominate fintech lending, which have higher risk for bad debts. Productive loans
Since the start of the pandemic, SMEs are entering the digital ecosystem to reach customers. Bukalapak and Tokopedia claim their SME merchants increased their income by 1,400% (x15) since joining the platform. In 2020, Bukalapak reported 5 million SMEs on
There has been a rapid uptake of QR code-based payment systems in Indonesia. This is more profoundly observable in the traditional market, Pasar Indah Kapuk in North Jakarta. Bank Indonesia aims to accelerate digital payments and access to finance for
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