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Dream - The Indonesian Fintech Association (AFTECH) reveals the phenomenon, Tech Winter, the decline of technology companies, also occurs in Indonesia. One of the impacts is a decrease of 10 percent of AFTECH members. AFTECH's Executive Director, Aries Setiadi, explains that the association's members in 2022 amounted to 366 companies. Until the third quarter of 2023, Tech Winter has eroded the number of its members by 36, becoming 330 companies.
Aries revealed that there are around 82 to 84 financial technology (fintech) companies under the umbrella of AFTECH that are forced to carry out layoffs (Pemutusan Hubungan Kerja or PHK) in 2022 to 2023.
"revealed Aries in Jakarta, Wednesday, January 24, 2024."
As information, Tech winter is a terminology that describes many technology-based startups that experience failure or collapse. Such as reducing employees and temporarily halting their recruitment (hiring freeze).
Apart from the tech winter, the decline in AFTECH members is also caused by many fintech companies lacking new sources of funding. This condition has led to many companies eventually collapsing.
Regarding the Financial Services Authority (OJK), it is currently conducting data collection on officially licensed fintech companies. As well as those that are established but engage in 'fictional' business activities, resulting in their revocation.
word Aries.
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