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Jakarta, 24 May 2021 - Currently the government and various institutions are preparing for industry 4.0. In this digital transformation, it is hoped that micro, small and medium enterprises can develop further. This is necessary, considering that currently the Indonesian economy is still developing in the midst of a pandemic situation.
There are many challenges faced by the government, private institutions, government agencies, and all affected sectors. This requires collaboration between parties to be able to continue to improve the quality of the economy in Indonesia.
The existence of digital transformation is expected to increase productivity. In addition, digital transformation for MSMEs is one of them is by facilitating access to finance, where the presence of technology can reach MSME players in all regions. PT Modal Rakyat Indonesia (Modal Rakyat) is officially working with PT Bank Neo Commerce Tbk (Bank Neo Commerce) to expand financing for potential Small and Medium Enterprises (SMEs).
The signing of a memorandum of understanding (MoU) between Modal Rakyat and Neo Commerce Bank was carried out on May 6, 2021, represented by Hendoko Kwik (CEO of Modal Rakyat) and Tjandra Gunawan (President Director of Bank Neo Commerce) officially carried out as a collaboration in the form of channeling.
This can be realized because of the common mission between Modal Rakyat and Neo Commerce Bank, namely to provide financial services that are inclusive, comfortable, and sustainable.
"The joining of Bank Neo Commerce as our strategic partner will certainly strengthen Modal Rakyat so that they can accelerate financial inclusion for MSME players in Indonesia. We hope that in the future, this collaboration can continue to be a synergy to support the digital financial system in Indonesia, "said Hendoko.
Neo Commerce Bank is committed to channeling credit of up to IDR 50 billion to potential SMEs through Modal Rakyat. The financing provided is a type of invoice financing or PO financing with a nominal financing per loan of up to IDR 2 billion. The joining of Bank Neo Commerce as one of the strategic partners of People's Capital is also one of the steps for Modal Rakyat to be able to encourage access to digital financing for SMEs.
Collaboration with Modal Rakyat, as a P2P Lending company is certainly a strategy for Neo Commerce Bank to strengthen financing and contribute to financial inclusiveness in Indonesia. With the joining of Bank Neo Commerce, there are more institutional funding partners in Modal Rakyat, which until now there are more than 10 companies as strategic channel partners.
As a P2P Lending company, Modal Rakyat has distributed more than IDR 1.2 Trillion since 2018. Public Capital Financing is 46.78% in the Information Technology sector, 27.52% in the Trade sector, and the rest is spread across other sectors such as architecture and construction, fashion, logistics, health, engineering, to manufacturing.
Bank Neo Commerce as one of the pioneers of digital banking in Indonesia is indeed focusing on developing financial inclusion in Indonesia by working with various financial actors, including Modal Rakyat. "Cooperation with Modal Rakyat further expands our reach to be able to help SMEs to grow faster in the midst of a pandemic.