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Insights

The advanced tech has brought the face to the financial world around the globe. As the proof as Indonesia has adopted those regulation into their own banking system. In order to make the path kept discipline through many fintech companies who ised their service within, also ifs own local/national terms.

Financial Technology doesn't look as the strange thing to discuss, its benefit toward society already proof in several sectors such as, transportation, money loan service, digital payment gate & etc. As recently popular in Indonesia, the use of fintech platform eg. OVO, GO-PAY, DANA, and many other platform. These service has brought the new easiest ways to local people as they utilized internet payment as the solutions.

FinTech Insights (Indonesian)

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When we talked about Fintech, it is true things passed on our mind was about the financial cases oriented and its integrated within the technology use-cases. Fintech itself divided into many categories such as the type of its use-case. There are some following terms/categories related about fintech that we should know:

1. Transportation Service Platform

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Un Indonesia, the transportation service platform offer its users to pay for the tickets bought/booked through the used of electronic/digital payments. As we already seen by the use of TRAVELOKA, TIKET.COM, AIRY, and many other things. All those platform offered diffirent services/payment cases. such as, payment by using Banking System/Visa/Mastercard or using another Fintech platform thet oriented as payment service (OVO, GOPAY, and etc.)

2. Financial Loaning Platform

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In this case, the loaning platform offered the money loan for short them return to pay. Such as KreditPintar, RupiahCepat, Perdana and other things all those pltaform offered different amount to loan. The standard maximum for all those fintech loaning platform is about IDR. 8m based on the users background.

3. Payment Platform/Wallet

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The use of payment platform is to make easiest payment method in many other merchant or e-commerce platform. Such as the use of OVO, GOPAY or DANA by having a welll balanced within, users will be easily to pay their product bought or booked.

4. E-Commerce Platform (Online Shop)

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This part already well utilized by many people in Indonesia, since they already well closed by using online shop to buy their goods. The payment system is just flowed through internet/digital payment system. Meanwhile, all those terms will brought them closed with the bank as the main source to refill the balance.

5. Internet Banking Platform/Savings

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If you are a well man closed with the Bank, you do understood by using the Internet Banking Platform as your payment solution through internet/digital. The lack of this service just stayed on its payment fees which is sometime there are just a hidden fees occured without our conciousness. In Indonesia, Internet Banking Platform such as Sakuku owned by BCA, BRI Internet Banking, and other things was concluded as the goverment banking while currently there are also the non-goverment bank flooded the market, such as Bank Mega Central Finance and etc.

Final Though

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The advanced of technology has brought the new face to the use of financial system. As we know, time to time the regulation will always updated as the new tech adopted. All the thing we should realized are by learning and understanding their policy and use-cases, so then we will just fine within.

Thanks

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Regards,
@seifanlj