Fintech talk show on “Examining Further the Direction of Financial Technology”

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The 12th Leadership Club generation in collaboration with a peer-to-peer-lending start-up company, PT. Komunal Finansial Indonesia held a talk show titled “Indonesia Financial Sector in the Industry 4.0 Era & Opportunities for Millennial” on Thursday, April 25, 2019.

The speakers at the seminar were Dr. Peter Jacobs S.H., MPA. and Hendry Lieviant, CFA. The first session of the seminar was delivered by Peter Jacobs, who is the Bank Indonesia Executive Director of Operations Treasury. Some important notes from Peter Jacobs are that Financial Technology (Fintech) has very broad boundaries and affects many industrial sectors. Over time, Fintech is growing rapidly; therefore our knowledge of Fintech must always be updated so that it is not left behind by the times. Fintech also facilitates human life in terms of economic transactions. However, there are a lot of threats that come along with the many conveniences that we get from Fintech, especially related to the issue of user privacy security.

The second session was filled by the presentation of Hendry Lieviant, CFA as CEO and Co-Founder of PT. Komunal Finansial Indonesia. According to Hendry, there have been many small communities who have difficulty obtaining capital loans. Their access to banks was very difficult, especially because loans must be in large amounts and the number of banks in their area is also limited. The existence of fintech makes it easy for the community because all transactions are done online and in real-time. Hendry explained that peer-to-peer lending itself grows very rapidly in the past 2 years. A large number of companies play in the business, but not all are legal. Hendry appealed to investors and capital borrowers to really pay attention to which peer-to-peer lending has been registered and supervised by the OJK.

In the end, fintech is a necessity and will increasingly develop, considering the Indonesian market is so large in potential. The two speakers also reminded all of us to have innovation and act as innovators rather than just becoming a market in their own country.

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