Fintech is a digital financial service with various fintech benefits that are beneficial for all circles. Not only from the community but also for developments in the business world in Indonesia.
Various Real Benefits of Fintech for Business and Society
In the past, when making financial transactions, you had to spend time and energy because it was done directly. In addition to saving time and energy, there are still many benefits of fintech for the business world.
Improving the Development of Start-up Companies and MSMEs
Fintech is very useful in helping the development of the business world, especially the emergence of new startup companies. Various innovations have emerged from young people or millennials, especially financial service products in this field.
A simple example is that many digital companies provide peer-to-peer (P2P lending) services. So that it can bring together the owners of funds with people who need funds in an easy, fast, and online system.
Improving People’s Living Standards
Another example of the benefits of fintech is being able to improve the standard of living and purchasing power of today’s people. So it’s not just for the sake of pursuing profit for companies that use digital financial technology.
People’s purchasing power is increasing along with the various conveniences offered today. For example, when making a purchase transaction, you do not have to use cash but can use an online system.
Loans with High Interest can be Reduced
People can feel the benefits directly because they can get loans with reasonable interest. There are many loan offers that are very easy and the process is fast but the interest rates are very high.
Fintech offers convenience in a transparent loan system and is supervised by the OJK. Interest rates are also officially regulated by the OJK so that they do not exceed the rules that apply in the banking world.