Determinan Inklusi Keuangan Di Indonesia (Global Findex 2014)

Abstract

Financial inclusion has been a trend since post 2008 crisis especially derived from the effects of the crisis towards the class in the bottom of the pyramid. Financial inclusion rate in Indonesia, if seen from three main indicators, is still low. Indonesians who have an account in financial institutions is at 35,95 percent and those who save is at 25,56 percent. Meanwhile, Indonesians who borrow in formal financial institutions are only at 13,3 percent. This study aims to examine individual characteristics in influencing three main indicators of financial inclusion, the ownership of the account, saving, and borrowing from formal financial institution in Indonesia. The data used is the micro-level data with 1000 respondents of the Indonesian population obtained from Global Findex 2014 issued by the World Bank. In accordance with the objectives of this study, the method used is the logit regression model.The results of the research shows that individual characteristics such as income level, education level, and age significantly affect ownership and savings accounts in formal financial institutions. While gender has no significant effect. In the third indicator which is the borrowing from formal financial institutions, only the poorest income quintile and age has a significant effect.

The implementation of fintech: Efficiency of MSMEs loans distribution and users’ financial inclusion index

“…Other characteristics, such as gender, education index, and occupation do not significantly influence the financial inclusion index. It corresponds with a study by Nugroho & Purwanti (2014) that the higher the index of income, the higher the probability of having bank accounts and depositing money in the formal financial institution. Further explanation reveals that income index increases, not all goes to consumption, but to other aspects, i.e., accessing financial services.…”

Investigation of financial inclusions, financial literation, and financial technology in Indonesia

“…So that financial activities will be mostly done by men. Nugroho (2017), who found that gender did not affect decisions on account ownership, saving, and borrowing informal financial institutions. However, this result was supported by Perpres No.…”

Fin-Tech, Financial Inclusion, and Sustainability: a Quantitative Approach of Muslims SMEs

“…It shows that Fintech product have succeed to become an alternative for Muslims entrepreneur to get financial inclusion. By the Fintech existence challenges of financial inclusion such as access restriction to formal financial institution, lack of knowledge, and product complexity offered by financial institution can be solved (Nugroho & Purwanti, 2018) It is in accordance with the Financial Services Authority (OJK) aspiration in National Strategy on Indonesian Financial Literacy (SNLKI) that push Fintech to take a role in providing financial inclusion (Otoritas Jasa Keuangan, 2017).…”

“…One of the obstacles to increase Indonesia's financial inclusion index is the access to formal financial institution were low because of the lack of knowledge and product complexity offered by financial institution (Nugroho & Purwanti, 2018). This is supported by a survey of national financial literacy conducted by The Financial Services Authority (OJK) in 2013 to 2016, there is improvement of financial inclusion index, from 59.7% to 67.8% in 2016 (Otoritas Jasa Keuangan, 2017).…”

“…Every region has different index level. This disparity shows the difference in economic condition and individual characteristic of every region (Nugroho & Purwanti, 2018). Special Capital Region of Jakarta is the province that has the most massive index of national financial inclusion.…”