Encourage Financial Inclusion, Perhaps The First Open Finance Research In Indonesia

CEO OFten, Gavin Tan. (Photo: Special)

JAKARTA - banyan, Payment Platform and Open Data Indonesia, collaborated with DSINnovate, an innovation research institute and consultant, to launch the first Open Finance report in Indonesia entitled "Open Finance 2022". The work on this review aims to educate and raise awareness of financial industry players about Open Finance concepts and solutions, to encourage its adoption in the Fintech industry ecosystem in Indonesia. Produced from July to October 2022, the whitepaper has involved qualitative and quantitative research to dig data on various sources, such as end users, fintech players, and regulators in Indonesia. In fact, more than 10 Financial Industries and 100 respondents throughout Indonesia have participated in the Open Finance research. Not only that, butANG and DSINnovate also present resource persons from a number of industry players in Indonesia. As a result, there are a number of interesting findings from the results of studies summarized in the report. From the Insurtech Platform Industry, for example, in the industry there are indeed challenges in obtaining more comprehensive data to conduct risk profiling to help insurance companies adjust premium prices. Meanwhile, in the P2P Lending Industry, the existence of more data allows financial companies to produce better and more personalized products. With the accumulation of new insights in the 2022 Open Finance Report, mediate is committed to continuing to develop its capabilities in encouraging financial inclusion in Indonesia. Even thanks to the commitment and after the launch of the report, mediate has also been recognized as the winner of the 2022 Fintech 50 Inclusive Inclusive (IF50) competition. Along with 257 participants from 79 countries, media managed to make it into the top 50 fintech list that utilizes digital data and infrastructure to make products more inclusive for financial companies and has an impact on the poor and underserved communities. Since its establishment in 2020, airways have helped financial services companies throughout Indonesia by building fundamental data infrastructure and providing various B2B (Business to Business) payment channels through leading partners. Not only that, mediate has also served users better through personalizing financial services and real-time payments, encouraging financial inclusion and literacy to be fully achieved in Indonesia to produce IF50 recognition. Gavin Tan as Co-founder and CEO oftens, stressed the importance of validation of theten. His party is honored for the election oftensies to become one of 50 fintechs in the Inclusive Fintech 50 competition. "We realize that financial inclusion is the largest aspect that we can support in accelerating economic growth in Indonesia. happens to be here to build solutions and bridge these goals and support Financial Institution in reaching the poor and underserved," said Gavin Tan, in his statement, Wednesday 9 November. Gavin also added thatid's mission will not only end here. He ensured that the company would continue to fight for financial inclusion by building B2B payment solutions for the entertainment and MSME businesses in 2022 and beyond.