Many Transactions, Fintech and Financial Industry Players Welcome the 2024 Election Year with Joy

Banyak Transaksi, Pelaku Industri Fintech dan Keuangan Semringah Sambut Tahun Pemilu 2024

Many Transactions, Fintech and Financial Industry Players Excitedly Welcome the 2024 Election Year.

Dream - The political event of the General Election (Pemilu) 2024 will soon take place in February. This political contest that occurs every 5 years is not only the focus of politicians but also business actors. The Indonesian Fintech Association (AFTECH) predicts that the prospects of the financial technology (fintech) and banking industries in the middle of the 2024 election year will be able to survive. AFTECH's Executive Director, Aries Setiadi, even believes that both industries will move positively during the election event.

The translation of the text "Ekonomi Cenderung Meningkat" from Bahasa to English while preserving any HTML tags is: "The Economy Tends to Increase".

Belief is seen from the economic conditions in the Election year in previous periods which actually tend to experience an increase.

Many Transactions, Fintech and Financial Industry Players Welcome the 2024 Election Year with Joy

Transactions by the community during the political year are also relatively high compared to usual. This favorable condition is also not separated from the Covid-19 pandemic that has ended.

The following is the translation of the given 'Bahasa' text to 'English' while preserving any html tags: "This is reflected in the activities of the community, which are becoming more free compared to the Covid-19 pandemic. This economic activity also has an impact on the growth of the Fintech industry because it helps facilitate transactions for the community. Especially during the election event, Aries said that the presence of many watch parties for the 2024 Election Debate also helps increase transaction activities for the community."

"So we see that this actually drives the economy. Now with Covid officially lifted, the community is also more free, and travel is also increasing,"

Aries said in the press conference 'Financial Inclusion Drives Economic Progress 2024' in Jakarta, Wednesday, January 24, 2024.

The same view was also expressed by the VP of Transaction Banking PT Bank Rakyat Indonesia Tbk (BRI), Rudy Automo. According to him, the election year is expected to provide benefits for economic growth.

"Thus, from an economic standpoint, BRI also predicts that this year's elections actually provide economic benefits," he said.

Rudy continued, transactions through banking are also predicted to continue to increase. This is supported by the number of consumption transactions in the community that have experienced an increase in 2023.

It is known that the Financial Services Authority (OJK) recorded a rapid growth of peer to peer (p2p) lending or online lending, reaching 18.05% YoY by November 2023, amounting to Rp59.38 trillion. OJK also noted that banking credit grew by 9.74% to Rp6,966 trillion by November 2023.

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