UNAIR NEWS – Faculty of Economics and Business (FEB) Universitas Airlangga held a talk show titled ” Fintech’s Role in Building Digital Economy and Encouraging Inclusive Finance” on Friday, March 9. Beiing held in Fajar Notonegoro Hall, the talk show was attended by TCASH CEO Danu Wicaksana and FEB Economist Dr.Wasiaturrahma.
“Indonesian economic condition this year is predicted to improve. It means the Indonesian economy is better than the global economy. However, there is an interesting part, the role of technology. Indonesia should be ready to welcome the 4th industrial revolution. Therefore, hopefully this discussion can be useful, “said Vice Dean I Dr. Rudi Purwono in his speech.
Meanwhile, Telkomsel through Endra Diputra, GM Youth and Community, delivered two commitments in supporting fintech, less cash society and youth and community. Telkomsel is present through TCASH for various uses, from purchases to electricity bill payments. In addition, Telkomsel embraces the younger generation for their future career and mission.
Next, Dr. Wasiaturrahma opened the talk show by elaborating the role of fintech and Bank Indonesia (BI). The presence of fintech , according to her, has actually been a long time, but only recently trending because of digitalization has revolutionized life.
“For example, e-money. The advantage, we do not need to be bothered with cash and change money, ” she said.
Dr. Wasiaturrahma presented some of the advantages of digitizing such as increased efficiency, lower cost transactions payment to 1 percent of GDP. In general, conversions from cash to electronics lowered 75 percent of the cost.
Dr. Wasiaturrahma also stated that the Central Bank has a role in digitizing. It reduces the shadow economy, mitigates illegal activities such as corruption and money laundering, as well as modernizes integrated financial infrastructure.
“For the risk, consumer protection, cybercrime and asset volatility should be considered,” explained the lecturer of FEB.
Not much different, Danu explained that fintech has great potential. About 60 percent of Indonesia’s population is still classified as unbanked category and has not had access to banks. In addition, it will be a tax source. Given, today the government diligently seeks sources of tax revenue. The affecting factor is that 83 percent of transactions are still made in cash. When technology is able to record, it will support the taxation.
“President Jokowi targets 75 percent of inclusive finance, so telecommunications is used well to participate in collaboration with banks, “he said.
According to Danu, TCASH was an innovation not only for urban communities, but also reaching out to rural communities by working with banks to improve the welfare of the community. (*)
Author: Siti Nur Umami
Editor: Feri Fenoria