In today’s world, many people need quick money for investment and consumptive stuff. Allegedly with the growth of a start-up company based on FinTech several years. In Indonesia itself, FinTech is expanding in various sectors, from start-up payments, lending, financial planning (personal finance), retail investment, crowdfunding, remittance, financial research, and so on. The development of Fintech users is also growing, from initially 7% in 2006-2007 to 78% in 2017 (IDC Financial Insight, 2017).
Handoyo Triyanto, Senior Research Manager of IDC Financial Insight, said that “Indonesia has a promising market for start-up fin-tech to grow, here they (FinTech Company) are not overrun with regulation and can grow faster than traditional financial institutions.”
According to our careful results, these are 5 fast-growing fin-tech companies in Indonesia based on field studies conducted by IDC Financial Insight that can replace the role of banks in lending and digital payment in Indonesia:
Along with the rapid development of Financial Technology (FinTech) startup in Indonesia, the world capital market began to take these steps to facilitate the public to invest. Bareksa.com comes as an online mutual fund marketplace of Indonesia. Bareksa.com shelter under PT Bareksa Portal Investasi which was established on February 17, 2013 is one of the first Indonesia startup integration securities in Indonesia that provides a platform to conduct online mutual fund trading, providing data services, information, mutual fund investment tools, stock, bonds, and others. www.bareksa.com
In CekAja, users can find out about various financial and insurance products, the features available on the CekAja platform are mortgage loans, health insurance, SME loans, time deposits, and credit cards. There are 140 types of credit cards presented and compare credit without collateral online. CekAja partnership consists of various banks and insurance. Checks also has licensed and registered trademarks of C88 Financial Technologies (Group) Pte. Ltd., represented in Indonesia by PT Puncak Finansial Utama.
Investree is a financial technology company in Indonesia with a simple mission: as an online marketplace that brings together people who need funding with people who are willing to lend their funds. Not only increase the number of lenders, Investree also makes the loan more affordable and accessible for Borrower.
Go-Pay, Go-Jek’s digital payments service continues to expand its services to reach more users. Nadiem Makarim, Founder of Gojek, revealed that more than 50 percent of Go-Jek users are using Go-Pay services. Therefore, he is determined to bring Go-Pay out of the Go-Jek ecosystem and can be used ‘everywhere’.
T-CASH is an electronic money service from Telkomsel that can be used by all Telkomsel and non-Telkomsel subscribers for all transactions using only the application anytime & anywhere. T-CASH has obtained a license from Bank Indonesia as an electronic financial services provider.