Digitalization and informal MSME: Digital financial inclusion for MSME development in the formal economy

Kurnia Rahayu, Siti and Budiarti, Isniar and Waluya Firdaus, Dony and Onegina, Viktoria Digitalization and informal MSME: Digital financial inclusion for MSME development in the formal economy. Journal of Eastern European and Central Asian Research.

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Abstract

This study examines digital financial inclusion and uses Fintech for informal micro small and medium enterprises (MSMEs) to overcome the financing gap. The researchers used primarily qualitative methods, namely a qualitative analysis strategy verification through inductive analysis. The results show that Indonesia's fintech landscape makes MSME a driver of the digital economy so that they can overcome the financing gap in the informal sector. The challenges faced by Fintech in encouraging MSME business efficiency in the form of unbalanced agency distribution, data security, data access problems, low digital financial literacy, low connectivity, and interoperability can be overcome by taking advantage of existing opportunities. These opportunities include the role of MFIs and cooperatives in promoting financial inclusion and the development of telecommunications infrastructure networks in Indonesia. The novelty of this research is the comprehensive evaluation of achieved progress in digital financial inclusion for MSMEs in Indonesia and the developed recommendation for regulations by relevant authorities to encourage the business efficiency of MSMEs through facilitating digital financial inclusion.

Item Type:	Article
Subjects:	Jurnal Tercetak
Depositing User:	Muhamad Heru Nuralam
Date Deposited:	01 Jul 2024 03:50
Last Modified:	20 Sep 2024 08:58
URI:	http://repository.unikom.ac.id/id/eprint/70727

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