This study aims to analyze fintech penetration and financial inclusion in Indonesia's economic growth. Fintech is expected to be able to provide benefits to add insight to researchers, readers, and related parties (government and fintech companies). This research is expected to provide knowledge related to the development of fintech and financial inclusion in Indonesia. This research can add references to the development of fintech-based companies in Indonesia.
Data were collected using secondary data consisting of data on the development of fintech products in Indonesia (digital payments, peer-to-peer lending (P2PL), and digital investment), financial inclusion, financial literacy, Gross Domestic Product (GDP), and macroeconomic indicators (poverty, unemployment, and inflation). The data was accessed through the websites of Otoritas Jasa Keuangan, Bank Indonesia, and Badan Pusat Statistik. The data that has been obtained is visualized in the form of line diagrams. The data was analyzed using descriptive statistical techniques.
The results of the study can be concluded that fintech has move in sync with the state of GDP and macroeconomic indicators in Indonesia. The development of fintech is directly proportional to the penetration of financial inclusion and literacy in Indonesia. Fintech is also aligned with Indonesia's economic growth through the availability of digital payment platforms, P2PL, and digital investment.
The conclusion of the research proves that fintech contributed during the Covid-19 pandemic by 4.34%, contributed 8.91% to the growth of financial inclusion, and increased 11.55% of financial literacy with a contribution of 2.56%. The increase in fintech users is also in line with Indonesia's economic activities in terms of GDP and macroeconomic indicators. Suggestions that can be given so that fintech continues to grow are by increasing literacy related to various fintech products. increased collaboration between fintech companies and the government in protecting fintech service users so that the trust of the Indonesian people increases.
