Latest OJK data revealed that there are only 103 licensed fintech lenders in Indonesia. Despite the decline in the number of fintech lenders, the industry’s credit disbursement has reached US$ ~908 million (IDR 12.97 trillion) as of November 2021, 51% year-on-year increase. The fintech lenders have disbursed productive loans to 12.67 million borrowers. The majority, or 10.04 million of the borrowers, are domiciled in the Java region. However, with the rise in digital banks, the fintech lenders may face some competition.