Opportunities for integrated finance platform

15 February 2023
TechnoBusiness

Spire consultant, Rizky Kurniawan draws attention to the Indonesian migrant workers’ (TKI) financial needs that presents a great opportunity for mobile application developers.

In 2020, there were 3.2 million Indonesian migrant workers (TKI) working in 33 countries. The financial needs and activities of these TKI opens opportunities for mobile application developers.

TKI are involved in financial arrangements and activities before and after moving to their destination country. Funds are required to support their and their family’s livelihood. The common lending and remittance activities happen in different places, through different parties.

Some of the obstacles that TKI face include high administrative costs, long processes and uneven availability of money changers across the country. The integration of the financial services could make managing their financial needs easier. The winning platform would be one that integrates borrowing and sending money and e-wallets, and which is also simple and safe to use.

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For media enquiries, please contact:

Marie Teo
Manager, Group Corporate Communications
Spire Research and Consulting
Phone: (65) 6838 5355
E-mail: [email protected]