Three Challenges Startup Faced in Serving Indonesia’s Unbanked Population

In Indonesia, access to basic financial service such as saving and lending is a priviledge. The country with more than 250 million people has only less than 40 million recorded bank account according to World Bank. The country stands at the top of  Asia Pacific in terms of unbanked population with three quarter of total population are still outside of conventional financial system.

At glance, these statistics looks bleak. But for entrepreneurs and startups, it means massive opportunity fintech. Indonesia is currently a fintech hotbed with more than 150 startups and record-high investment of USD 57 million in 42 deals by last year alone. Half of that deals went to lending and payment startups.

Picture of shallot sellers in Jogja, one of the many millions unbanked population in Indonesia. Photo by Andy Al Mesura on Unsplash

I work as a product and business development guy in a peer-to-peer lending startup. Our startup focus is to provide microlending to millions of unbanked and underbanked women entrepreneurs in Indonesia. In this post, i will share three challenges that i have to deal on a daily basis. The challenges will slightly skewed to lending business model but i try to make it relevant for other fintech as well.

Lets start!.

Continue reading “Three Challenges Startup Faced in Serving Indonesia’s Unbanked Population”

Recommended Readings #6

Its been weeks since the last RR post. To make it up for the long wait, today i will share  more links than the usual. From the hidden truth of being tech journal to ideas to improve revenue sharing model in music streaming, enjoy this latest episode of Recommended Readings.

Recommended Readings 6


Walter Issacson’s The Myth Of Lone Genius 

Famously known for his Steve Jobs biography book, prolific biographer Walter Issacson come back again this year with new book: The Innovators. In this article, Walters talk about how internet revolution was brought not by brilliance of lone genius but by series of collaboration between many innovators.  I havent read his book yet but this article successfully lengthen my Amazon wishlist.

Confession of an Ex Tech Journalist

Bekah Grant was a former tech writer in VentureBeat. In this post, she gave a glimpse of the stressful life of tech journalist. Apart from non stop race to crank out page views by churning articles as much as possible, Tech Journo need to deal with constant interuption from startup founders, PR and professional jerks.  This articles serves as a guide for how not to treat tech journalist  if you need their help to spread your story.

HBR’s Insights on Xiaomi’s Business Model

Chinese smartphone manufacturer Xiaomi are taking the world by storm. The so called Apple from China had a series of homerun streak this year, from getting a stellar review in ArsTechnica and rising to be third largest global smartphone maker. So what are the secrets of their stellar success ? HBR explained how Xiami disrupted smartphone industry using low price and limited availability strategy.

Jessica Livingstone on Why Startup Need More Sales and Less Marketing 

I learned the fundamental difference of Sales and Marketing from this article. Jessica Livingstone, founding partner of Y Combinator, explains Marketing as Broad-and-Shallow while Sales is Narrow-and-deep. With limited capital and its small scale, startup should always do Narrow and Deep. Insightful yet easy to digest, a must read article.

7 Rules for Creating Gorgeous UI

Freelance UX designer Erik Kennedy Tips has personal mission to make UI design accessible for all people not just  art school graduates. Based on his experience, he broke down seven easy-to-understand methods to create good looking UI. Every tips has an image example so you can see clearly how the methods works.

For me the most useful one is method no 5,  text overlaying over images. Simple tweak but the result is amazing. So gonna use that from now on.

How to make royalties fairer for music streaming

Spotify were under scrutiny recently after Taylor Swift removed all of his albums due to unfair royalties to the musician. Previously, Radiohead frontman Thom Yorke also vented the same complain. Sharyky Laguana from Cuepoint offer his idea to improve royalty sharing within current spotify model. Detailed explanation on Spotify music streaming business model are given in the article.

Recommended Readings (RR) is a weekly compilation of  internet articles which is interesting and insightful. No limitation on the topic, as long as it ticks me ill share it with you guys here. Check out the previous RR articles here

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