Indonesia’s Fintech Lending Industry Representative, AdaKami is Optimistic Towards Significant Digital Economic Inclusion Growth Among Citizens, Jakarta, 12 September 2023 – AdaKami, a leading Indonesian fintech lending platform under PT Pembiayaan Digital Indonesia, solidified their role as a representative of the national fintech industry during the events Symposium on ‘Digital Economy and Sustainability’ and Launch of The Digital Innovation and Sustainable Economy Centre – DISC hosted by the Coordinating Ministry of Economic Affairs, and ASEAN FINTECH Roundtable Luncheon 2023, as sets of events by ASEAN-BAC in Jakarta. AdaKami was chosen to convey their capacity and competence as a leader of P2P Lending as well as sharing their insights and strategic roles in building a more inclusive digital economy for the general public of Indonesia.

Finvolution Group’s President of International Business (Adakami) -Dr. Ming Gu represented AdaKami through his presence in all two events. During his visit to Indonesia, Ming Gu remarked on Indonesia’s significant potential in a digital economy that contributes to the regional economic development in Asia Pacific. This remarkable potential needs the support of citizens who are empowered in responding to and utilizing technological developments with full understanding of them.

“Digital transformation is prevalent in many aspects of life, including the economy, a major facet in Indonesians’ lives. As a large nation, Indonesia’s digital economic market is increasingly flourishing, reaching 40 per cent of Southeast Asia. AdaKami continues to strategically contribute in building Indonesia’s digital economic literacy as well as preparing various risk mitigation measures to ensure that everyone in Indonesia can comprehend and benefits from the digital economy. By carrying our sustaining efforts, we are optimistic in supporting Indonesia together in its mission to become a main economic leader in the ASEAN region,” says Ming Gu.

Dr. Ming Gu attended the Coordinating Ministry of Economic Affairs’ Symposium on ‘Digital Economy and Sustainability’ and Launch of The Digital Innovation and Sustainable Economic Centre (DISC) as a Panelist in the session ‘Key Issues in Digital Economy and Sustainable Economic Development’. During the session, he shared several insights that are implemented in AdaKami’s strategies to build financial technology in Indonesia. Hosted together with the Economic Research Institute for ASEAN and East Asia (ERIA), this symposium is the center for policymakers, academics, organizations, businesses, and startups to discuss the role of inclusive digital transformations in improving sustainable developments.

In the keynote speech for this event, Airlangga Hartanto, Coordinating Minister for Economy Affairs, said that “The inauguration of The Digital Innovation and Sustainable Economy Center – DISC also marks ASEAN’s important journey in transforming the economic growth towards sustainability that is digitally driven throughout the Southeast Asia region. This is also expected to support various aspects including to build a more inclusive economy through technology and innovation.”

This area of discussion is in line with the three strategic economic drives under Indonesia’s 2023 Chairmanship in ASEAN, namely (i) rebuilding regional growth, connectivity, and new competitiveness (recovery for rebuilding); (ii) accelerating digital economic transformation that is inclusive and engaging (digital economy); as well as (iii) boosting continuous economic growth for a formidable future. As one of the five most important fintech lending leaders in Indonesia, AdaKami through Dr. Ming Gu enriched the discussion of an important session through valuable insights on shaping a future with a continuous digital economy.

He then attended the ASEAN-BAC event ASEAN – BAC FINTECH Roundtable Luncheon 2023, a partner of AFPI. Continuing ASEAN-BAC’s previous strategic visit to Shanghai, Ming Gu and ASEAN-BAC discussed the platform marketplace lending development landscape, a main focus of which is addressing case studies and success methods in accelerating digital transformation and response strategy for market trends and its challenges. In Indonesia, OJK plays very important roles to regulate the fintech lending players which has been increasing their loan disbursement volume up 22.4% YOY and succeeded in disbursing loan volume up to 43 billion USD per July 2023.

Agusman, Chief Executive of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Service Companies Supervision, OJK stated, “We believe that fintech and its ecosystem can play important roles in helping us to increase financial inclusion and development. This event also reflects Indonesia high commitment towards financial inclusion that could improve the society welfare. Currently, the fintech startups are growing rapidly in many different business format, with the fintech lending and fintech payment as the most prominent sectors. As the largest archipelago in the world coupled with a huge population, Indonesia also facing a lot of challenges. Therefore, we need to do more collaborations in order to accelerate the financial inclusion. As the regulator, we are committed to provide high support for industry players and educate the market about its benefits and roles to address its challenges in the economic development.”

ASEAN-BAC also invited other players of the P2P lending industry to help with the goal of empowering ASEAN to become a global economic center full of constructive and innovative suggestions. AdaKami’s President Director and Vice Chair of ASEAN-BAC 2023 – Bernardino Moningka Vega also asserted that, “Indonesia has a digital economic and development prospect that is rapidly progressing in today’s transformative era. Fintech lending leaders must act through giving contributions to build inclusive finance, starting from cultivating a digital economic environment that is conducive including the preparation of risk mitigation steps that can reduce NPLs for people to safely and comfortably enjoy fintech lending innovations. In addition, the industry players should also have the capability to continue collaborating with other companies and regulators to produce an even better digital economy. All these preparations allow fintech lending innovation to improve and complete the system as well as creating economic growth that is increasingly inclusive.

ASEAN-BAC opens access to investing and economic integration by utilizing the collective potential of ASEAN-member countries and creating an evolving business landscape that is interrelated for all parties’ benefits. As this year’s Chairman, Indonesia is optimistic in achieving an increasingly inclusive economy with the help of the active contributions from stakeholders in the financial technology industry.

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