UNS — The Center for Fintech and Banking (PUI Fintech and Banking) Universitas Sebelas Maret (UNS Fintech Center) hosted the UNS Digital Innovation Festival 2021 to discuss the opportunities for Indonesia to advance its digital finance. The virtual event was attended by the Rector of UNS, Prof. Jamal Wiwoho, and the President of Global Fintech Institute (GFI), Prof. David Lee Kuo Chuen, through the Zoom Cloud Meeting. Inviting numerous notable speakers from Indonesia and abroad, the UNS DIF 2021 delivers a keynote speech from the Deputy Commissioners of the Indonesia Financial Service Authority (OJK) Institute and Digital Finance, Imansyah, and the Expert Staff for the Macroeconomics, Ministry of Cooperatives and SMEs (Kemenkop UKM).
Following the keynote speech, there is a talk show with Rulli Nuryanto as the VP Operations and Technology APL (Icio Community) Dannarjaya Harinta Sri, UNS Fintech Center Researcher, Dr. Taufiq Arifin, and the Founder of Schulter Research, Paul Schulte.
Rulli Nuryanto, representing the Minister of Cooperatives and SMEs, Teten Masduki, discusses the “Six Strategic Program from the Kemenkop UKM” for the year 2021. The programs include encouragement for modern cooperation, micro informal business transformation into formal business, encouraging SME business to enter the export market, improvement of entrepreneurship ratio, and accelerating MSME product through government expenditure. All those programs will be supported with Micro Small Business Cooperative Revolving Fund Management Agency (LPDB-KUMKM) strengthening program to channeling the Revolving Funds for cooperatives that are directed to the real sector and are focused on agriculture, forestry, farming, fishery, plantation, and strategic SME sub-sectors. “Currently, we are focussing on encouraging the SME to board the digital ecosystem through assistance in increasing commercialization and digital market optimization training,” Rulli explains.
In front of the UNS DIF 2021, he also states that the SME sector gets special attention from the government because SMEs have a crucial role in the national economy. This statement is proved with the number of SMEs in Indonesia totaling 64.2 million SMEs that contribute to 61.07% GDP and 60.42% in investment. Rulli Nuryanto mentioned that the SME sector could absorb the largest workforce, which is 97.02% of the total workforce.
Responding to the material delivered by Rulli Nuryanto, Mr. Imansyah, who represents the Chairman of OJK, Prof. Wimboh Santoso, discusses the potential and challenges for the digital economy in Indonesia, a rapid victory of digital transformation in financial services, and OJK’s initiatives to accelerate digital transformation. For the potential of the digital economy in Indonesia, Imansyah states that Indonesia has the opportunity to record a digital transaction value of USD 150 billion in 2025 and is predicted to become the number one digital economy in Southeast Asia.
Further, regarding the rapid achievement of digital transformation in financial service, Imansyah states that such accomplishment can be achieved through responsible innovation development in the financial service sector, digital transformation that supports financial stability, national economic growth, consumer protection, and financial inclusion. “Lastly, OJK keeps on improving several aspects such as certification training to improve relevant monitoring capability for the technology advancement, data integrity administration, and governance strengthening,” Imansyah concluded. Humas UNS
Reporter: Yefta Christopherus AS
Editor: Dwi Hastuti
