The banking industry in Indonesia still has to face tough challenges. Especially to increase bank penetration to the public.

A report launched by Google, Temasek, and Bain & Company revealed that 92 million Indonesians in the adult age category are still underbanked .

In November 2020, the Financial Services Authority (OJK) noted that the number of borrowers increased by 136% more than in 2019. Meanwhile, loans nationally distributed reached more than IDR 124.4 trillion, an increase of 96% compared to 2019.

In response to this condition, online peer-to-peer lending (P2P) applications are trying to take advantage of opportunities to improve financial access for the public. This year, AdaKami targets to distribute funds of up to Rp 12 trillion to 10 million registered borrowers. Four million of them are real economic actors.

“Last year was a year full of struggles which made us realize that a wider distribution of funds to business actors has the power to support national economic recovery.

This target is aimed at minimizing the credit gap , especially for the poor, so that they can build a sufficiently bankable portfolio , “said Bernadino M. Vega, Jr. AdaKami’s Main Director.

Munawar, Deputy Director of Fintech Regulation, Licensing and Development of the Financial Services Authority, said that P2P lending has a very big role in encouraging public financial access. The contribution of P2P lending in 2020 to the PEN program reached IDR 262.16 billion year-on-year to approximately 48,629 borrowers.

The need for loans for business actors is considered to be the main focus. During the pandemic, Small and Medium Enterprises (SMEs), especially those engaged in the real sector, experienced difficulties in funding to maintain their businesses.

This is due to the large dependence of the community, but very low purchasing power. “For that, we are trying to boost people’s purchasing power through access to business capital loans,” said Bernardino.

Entering its third year of operation in Indonesia, AdaKami is working on rebranding as a fintech that provides solutions for the life needs of its users. “We are trying to read the dynamics of the industry which is constantly moving. As a P2P lending provider , AdaKami reads that there is a need for sensitivity to customer needs to maximize service. In this case, the majority of AdaKami users are millennials and Gen Z and we try to answer their lifestyle, “explained Bernardino.

One of the first steps AdaKami took was the use of digital channels to present educational content on financial planning. This year, AdaKami plans to collaborate with various parties to launch this new positioning . The target, P2P lending, is targeting to reach 100 million Indonesians who are still unbanked .

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