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How KoinWorks Attracts Consumers Amid False Investment Concerns

How KoinWorks Attracts Consumers Amid False Investment Concerns

Lately, there are lots of news about bulging investment. The financial technology finance company (fintech lending) KoinWorks also focuses on providing education to consumers, in order to reduce fears of investment services.

PT Lunaria Annua Teknologi (KoinWorks) emphasizes its commitment and mission to help Indonesia realize equitable financial inclusion for all its citizens.

How KoinWorks Attracts Consumers Amid False Investment Concerns

Frecy Ferry Daswaty, VP of Marketing KoinWorks, explained that he understood that choosing financial products for the development of assets that fit the needs and character, including the selection of the platform, was not an easy matter for everyone.

Therefore, KoinWorks spawned various initiatives and innovations. Starting from developing a variety of financial products in the platform to meet the financial needs of individuals and businesses, to routine events.

As a fintech lending platform provider, KoinWorks attracts lenders. In this case, lenders invest. The company has just launched a gold investment service, KoinGold.

Hold a Money Diary Talk Program to Improve Literacy

KoinWorks also actively conducts educational activities about financial services. “This is to create good financial literacy in the community,” VP of Marketing KoinWorks Frecy Ferry Daswaty was quoted as saying in a press release on Tuesday (28/7).

The startup organized a Money Diary Talk program that discussed the development of assets. Then, DiaLokal raised about business development.

How KoinWorks Attracts Consumers Amid False Investment Concerns

Everymonth, the company will hold educational activities. In this case, KoinWorks cooperates with various financial and government educational institutions such as the National Council for Inclusive Financial Secretariat (DSNKI).

The hope, consumers do not hesitate in investing. In addition, you can determine your own financial products that suit your needs and risk profile.

“The public knows which ones are true and which are false. Some are using marketing masks. It is good outside, even though he does not have permission,” said Head of Strategic Communication KoinWorks Aldion Sianturi during a press conference on Tuesday (7/28).

One of the news related to investment that is often discussed is Jouska. The Investment Alert Task Force said Jouska conducts activities such as investment advisors and investment managers, even though they do not yet have a permit.

Therefore, the Investment Alert Task Force stopped Jouska’s business activities for a while. This institution also stopped 99 business entities that were suspected of carrying out investment activities without permits, last month.

Loan Demand Increases on Koinworks Platform

KoinWorks acknowledged the demand for loans on his Super Financial App platform began to stretch again, especially after the easing of the Large-Scale Social Restrictions (PSBB) policy.

Bernard Arifin, Chief Operation Officer of KoinWorks, explained that there was an increase in loan demand of up to 30% after several business sectors began operating again in the new normal transition phase.

How KoinWorks Attracts Consumers Amid False Investment Concerns

“KoinWorks is optimistic that it can maintain business performance in the second half of 2020, seeing that there has been an increase in loan demand. We also believe we can maintain our NPL [non-performing loan] rate which is currently in the range of 1% by presenting quality loans in KoinWorks marketplace,” he said when confirmed the Business, Friday (24/7/2020).

The latest data from KoinWorks as of April 2020 revealed that the percentage of the success rate of return on the 90th day (TKB90) was 95.89%, with total loans since the beginning of the year reaching IDR 437.9 billion from 6,458 individual borrowers and 587 institutional borrowers.

Previously, Bernard explained that the increase in loan demand was supported by the productive loans which rose by 15% (year-on-year / yoy) in the first semester of 2020, with the average loans proposed by micro, small and medium enterprises (MSMEs) in around IDR 200 million to IDR 300 million.

This makes the quality of loans will be a concern of KoinWorks in semester II / 2020. Improved credit scoring technology through digital footprint is a necessity to fund business players, especially MSMEs in potential sectors.