Facebook Inc’s messaging platform WhatsApp and PayPal Holdings Inc have invested in payment, food delivery, and ride-hailing app operator Gojek. According to a regulatory filing, Facebook now owns a 2.4 percent stake in Gojek’s GoPay fintech arm, while PayPal owns 0.6 percent of GoPay as at 9 June 2020. (Photo Illustration: Adriana Adie/NurPhoto via AFP) Long Reads Manggi Habir | Siwage Dharma Negara This Long Read examines the trends and developments in the digital transformation of Indonesia’s banking landscape. These look set to benefit a large swathe of Indonesia’s 270 million population which remains unbanked and underbanked. INTRODUCTION The ongoing digital transformation of Indonesia’s financial sector since the early 2010s has further accelerated during the 2019-2022 pandemic. Social mobility restrictions (PPKM) during the pandemic forced most people to shift their daily activities online, including accessing financial services. Rising e-commerce transactions also led to increased use of e-payments, and fintech lenders were kept busy filling in the micro and small medium enterprises (MSMEs) loan demand gap. This article examines the digital transformation of Indonesia’s banking landscape. INDONESIA’S BANKING LANDSCAPE Much has been written about the provision of financial services to the vast unbanked segment at the bottom of the income […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
