TEMPO.CO, Jakarta - The Institute for Development of Economics and Finance (Indef) said that fintech-based companies offering peer-to-peer lending services can improve Indonesia's macroeconomics capability.
Indef's review, done together with the Indonesian Fintech Association (Aftech), estimates that fintech development in Indonesia can contribute up to Rp25.97 trillion to the GDP.
Speaking at the discussion with the theme "Lending Fintech Roles to Indonesia's Economy" in Jakarta, August 28, Indef economist Bhima Yudhistira Adhinegara said that the Rp25.97 trillion contribution includes both direct and indirect impacts.
"This shows that fintech's existence has elevated the macroeconomics," he remarked.
According to the Financial Services Authority (OJK), P2P fintechs have disbursed Rp7.64 trillion worth of loans. To date, there are 66 fintech companies licensed by and registered with the OJK. Another one has just obtained the regulator's approval to run its business.