Access to financing remains a challenge for many people in Indonesia. Amid growing economic needs, not all individuals and businesses have equal opportunities to obtain credit from formal financial institutions.
This is where collaboration becomes essential.
Through the White Paper Discussion by AFTECH in collaboration with PERBANAS, stakeholders from regulators and banks to P2P lending industry players came together in one forum. This discussion was not merely about exchanging views, but about finding common ground on how collaboration can expand access to financing in a more inclusive and responsible way.
One of the key points raised in the discussion is that Indonesia’s access to credit still lags behind other countries in the region. The credit to GDP ratio, which stands at around 36%, indicates that a significant portion of the productive population remains underserved by formal financial services.
This gap is not due to a lack of demand, but rather a combination of factors, including stringent credit requirements and limited reach of financial services.
The rise of financial technology offers a new approach to addressing these challenges. P2P lending platforms, for instance, have experienced rapid growth in recent years and have been able to reach segments of society that were previously underserved.
With faster processes and the use of alternative data for credit assessment, P2P lending provides solutions that are more aligned with the needs of today’s society.
That said, the role of banks remains irreplaceable particularly in terms of funding capacity and financial stability.
The discussion underscored an important point: the relationship between banks and P2P lending is not about which is superior, but about how both can complement each other.
Banks bring strength in scale and trust. Meanwhile, P2P lending excels in innovation and flexibility. When both work together, the opportunity to reach more underserved communities becomes significantly greater.
While the potential is significant, such collaboration must be managed with care.
The discussion also highlighted the importance of:
These measures are crucial to ensure that innovation does not come at the expense of stability and public trust.
The White Paper discussion serves as a reminder that expanding access to credit cannot be achieved by a single party alone. It requires a balanced approach between innovation and prudence, between technology and governance.
With the right synergy, the opportunity to build a more inclusive and sustainable financing ecosystem becomes increasingly within reach.
AFTECH, together with its stakeholders, will continue to drive this collaboration forward—so that more Indonesians can access financing that is safe, accessible, and responsible.
