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ABSTRACT
Technological developments have encouraged financial technology literacy where financial technology (Fintech) startups come into the world of peer-to-peer lending to bridge the gap between conventional banking and those who cannot get capital from a bank. The technology allows the process of financial facilitation to be more convenient, faster, and more cost-efficient. Fintech has a big opportunity in Indonesia and at the same moment, the government has covered Fintech customers with the regulation of Authority of Financial Services Number 77/POJK.01/2016 about money lending services based on information technology. This study is intended to illustrate the business agility strategy of Fintech companies which perform peer-to-peer lending. The method used in this study is qualitative research with descriptive approach. The data collection technique applied is by literature study. The result shows that P2P lending companies have already done a business agility strategy to grab their customers in the era of digital finance in Indonesia. By using the technology platform, they make a simple application for gaining competitive advantages.
Keywords: Strategy, Financial Technology, Fintech, Peer-to-Peer Lending.
1.INTRODUCTION
The rapid development of technology eliminates limitations and opens up various business opportunities. The internet has the potential to connect everyone and everything. A competitive business environment causes new companies or startups to develop a strategy to dominate the market which will drive the need for business agility. Fintech startups use this opportunity to grab the market. Every company needs to make an agile action to support its adaptability. Agility is the core of the fundamental requirement of all Fintech startups to succeed. According to Dove (2001), agility derives from both the physical ability to act (responsive ability) and the intellectual ability to find appropriate things to perform (knowledge management).
The technology also influences the financial industry in which the era of financial literacy is coming. Transformation in technology triggered by many companies has changed their platform to business digitalization (Hendriyani & Raharja, 2018). Fintech comes to simplify all financial affairs with a wider reach through a collaboration between government, banks, institutions, e-commerce, startup, and telecommunication. With the emergence of the Fintech era, startup companies can take a banking role in managing finance. Fintech in Indonesia is growing to Fintech 3.0 in which many independent technology companies (startups) join the...