IO – AdaKami, a leading fintech lending company in Indonesia, reaffirms its commitment to accomplish financial inclusion for all Indonesian citizens through strategic collaboration with numerous parties in its third year of operation in Indonesia. In line with the G20 Conference theme: “Recover Together, Recover Stronger”, Indonesia will be the first developing country to host the conference.
President Jokowi initiated the theme to reflect the spirit of the world to come together and rise from a current economic downturn: as a result of the COVID-19 pandemic hit, Indonesia has endured a loss of IDR 1.35 trillion up to 2021, with an economic contraction of 2.07 percent. The nation’s economy is expected to grow by 5.22 percent by 2022.
“Indonesia requires tremendous effort and support from all parties to revive the economy after the pandemic hit. We believe that the only way to boost our economy is through collaboration of stakeholders and innovative technology which promotes accessible services in achieving financial inclusion for people,” concluded AdaKami CEO Bernardino M. Vega (Dino) at the AdaKami Media Gathering event in Jakarta.
As of December 2021, AdaKami has distributed IDR 9.2 trillion in loans to more than 10.8 million registered borrowers, from all across Indonesia. In the future, AdaKami plans to reach more people who lack financial access. Such loans are considered critical, as more than 181 million Indonesians are categorized as unbanked. Thus, collaboration between financial institutions will serve more people who fall into the category.
The World Bank provides data reports of Indonesia’s credit gap of IDR 1.650 trillion per year. Closing the credit gap will require efforts from many parties to encourage economic development. At the AFPI Fintech Lending Summit 2021 – Outlook 2022 last December, AFPI stated that collective fintech lending companies in Indonesia could only contribute approximately 9 percent of the total credit gap needed by Indonesia. “We realize that the national economy needs to recover. AdaKami vows to contribute,” explained Dino.
The Challenge of Economic Equality
AdaKami adopts business models and technologies from shareholders that have successfully answered the needs and challenges in equal distribution for digital financial access throughout Indonesia. Therefore, AdaKami carefully considers the best and most appropriate products and services, which will be shared with citizens and institutions at all levels of society.
“Throughout 2021, AdaKami has implemented programs and collaborated with strategic partners to bridge the financial needs of the unbanked population. AdaKami’s CSR and marketing focused mostly on education and improving fnancial literacy,” said Jonathan Krissantosa, AdaKami’s Business Development Manager.
One of the commitments of AdaKami in 2022 is to increase the number of financial education and literacy programs, to raise the “financial literacy” of borrowers. “By helping borrowers understand their rights and responsibilities, we can imbue them with sound financial management. Therefore, AdaKami welcomes various opportunities for collaboration to promote more inclusive financial and economic access,” concluded Jonathan.