Currently, fintech is one of the industries that are competitors for banking. This phenomenon can be observed in everyday life, where many people use fintech services to transact online.
So, what are some interesting facts about fintech?
Fintech is an innovation in the financial sector that uses technology in its application system. This service is very useful for making online transactions from anywhere and anytime.
Interesting Facts about Fintech
This technology-based financial service can be accessed online using the internet. There are many financial activities that can be done in fintech. This makes fintech more attractive in the eyes of the public. Some of these interesting facts are as follows:
1. Fintech dominates Financial Services
Bank Indonesia revealed the fact that the fintech business industry began to dominate financial services, including diverting public attention from banking.
This can be seen from the availability of several banking services in fintech companies.
One example of this service is money transfer transactions. Currently, there are many people who do online transactions without relying on banking. This is because fintech is considered more practical and effective to use.
It must be admitted that fintech has great potential to continue to grow and develop. This is in accordance with technological developments, authorities, and community preferences.
2. Fintech Growth
Although the popularity of banking is still quite high, it does not rule out that fintech will be at the forefront in terms of service and sophistication.
3. Fintech Payments Sector Continues to Grow
Fintech can help increase financial inclusion because it provides easy acceleration for people without distance barriers.
This makes it very easy for the public to get the widest possible financial services.
Several fintech companies growing in Indonesia are encouraged to widen their access to remote areas of the country. Mainly, in the payment sector and lending market.
The growing business sector makes fintech companies thrive in Indonesia. Therefore, many business people are enthusiastic about using this service.
4. Fintech is a Job with Bright Prospects
As technology develops, this is also accompanied by service innovation and the quality of human resources. Therefore, it is not surprising that the progress of fintech has attracted many investors to invest.
Keep in mind that in the future, the digital era makes work run so fast. This is a potential field for investors to invest their capital.
In particular, the digital economy is a potential future job. There will be many services that will continue to be updated or added in fintech companies.
So, it can be said that fintech is a forum that continues to provide many job opportunities. Human Resources will also be absorbed a lot, thereby reducing the unemployment rate.
5. P2P Lending is the Most Popular Service
Currently, Peer-to-Peer lending is the most popular service owned by fintech companies. This service is in great demand because it suits the needs of today's society.
As it is known that the SME industry is growing very rapidly nowadays. This makes many people need capital or money to develop a business.
Therefore, P2P lending is considered the right solution to help SMEs finance. Moreover, this service is very practical and does not require many difficult requirements.
6. Banking is threatened with extinction because of Fintech
There is a lot of discourse that says that fintech has the potential to beat banking. In fact, the presence of fintech does not have that purpose.
However, many experts say that fintech services are superior in terms of practicality and effectiveness. Therefore, the discourse of banking disruption continues to exist in the community.
If banks do not immediately improve and catch up, then it is not impossible that fintech will dominate financial services.
Based on these interesting facts about fintech, banking and fintech should be able to complement each other and provide the best service for the community. In this way, financial inclusion can be achieved in Indonesia.
