The Potential For Fund Growth Is Still Very Large

DANA (Photo: Doc. Dana)

JAKARTA - The potential growth of funds, a financial technology company that provides payment platforms and digital financial services, is still very large.

The President Commissioner (Komut) of DANA Indonesia Rudiantara stated that the potential growth of financial technology companies that provide payment platforms and digital financial services is still very large.

"The growth potential of funds is still very large, considering that the unique number of mobile service users in Indonesia reaches more than 240 million. Therefore, all can play a role in increasing financial inclusion in Indonesia," he said quoting Antara.

In the last six years, he continued, he claimed to have witnessed the journey of DANA to create an inclusive payment platform and financial services with the vision of realizing non-cash Indonesian people.

In addition to growing to 180 million users, DANA is said to be increasingly inclusive because 60 percent of its users occupy cities in tier 3 and 4 in Indonesia.

Since 2018, DANA is said to have continued to grow positively to serve the financial needs and lifestyles of the Indonesian people. This can be seen from the significant growth marked by the surge in the number of Micro, Small, and Medium Enterprises (MSMEs) business partners of 700 thousand and the average daily transaction of 102 percent year on year (yoy).

In addition, the number of MSMEs using the Quick Response Code Indonesian Standard (QRIS) DANA as merchants increased by 37 percent in 2023 compared to 2022, and increased by 295 percent compared to 2020.

Furthermore, Bank Indonesia (BI)'s breakthrough through the standardization of inter-state payments (QR Cross Border) is considered to have developed DANA digital transactions because it is one of the first non-bank payment service providers in three countries, namely Singapore, Malaysia, and Thailand.

Support for various innovations such as the implementation of Artificial Intelligence (AI) technology is said to have helped build optimism for DANA in developing payments and Indonesia's digital financial services.

AI technology has been used by DANA to assist user constraints through DIANA's Digital Customer Care assistant, to personalize user financial solutions and strengthen the security of digital transactions through risk engine technology.

"In line with one of our principles, namely, trusted, we always prioritize user trust through various efforts. This effort includes implementing AI technology. The hope is that the use of AI will not only facilitate our daily work of our tech engineer internally, but can also enrich DANA's digital financial features and services to make them more reliable," said Chief Technology Officer of DANA Indonesia Norman Sasono.

In the future, Norman said DANA would focus on improving service quality and launching products that suit the needs of the Indonesian people through leading technology. AI capabilities will be optimized to prepare these new features and services.

"The closeness of product intensification will also be carried out, to ensure users can take full advantage of the capabilities of the DANA digital wallet," said Norman.