JAKARTA. Kredivo, one of the largest digital lending platforms in Indonesia, reports that 85% of users who have access to credit come from productive age group, between 18-35 years.
Umang Rustagi, Co-Founder & COO of Kredivo, said that as many as 60% of the total customers are borrowers who are applying for credit for the first time. "This is also an indicator that people's needs for access to digital credit are increasing from time to time," Rustagi said as quoted by Bisnis Indonesia on Friday (18/10) today.
In addition, Kredivo assessed that the trend was caused by low credit card penetration in Indonesia. With a credit card penetration rate of around 2%, Indonesia is still lower than Malaysia, which reaches 20% and Singapore (40%).
On August, Financial Services Authority (FSA), noted that the number of lending disbursed by fintech companies has reached Rp 49.79 trillion. The volume of lending is up 119.69% compared to the same month last year. (KR/AR)