10 December 2013
Dissemination of market research study on demand for mobile money and branchless banking among micro and small enterprises in Indonesia
22 January 2014
Spire speaks at the Mobile Money and Digital Payments Asia 2014
In collaboration with Microfinance Opportunities U.S. and the National Team for Accelerating Poverty Reduction (TNP2K), Spire Research and Consulting has undertaken a study to explore the potential of mobile-enabled microfinance in Indonesia. The study was conducted on micro-businesses and small enterprises (MSEs) to ascertain their need for mobile money and branchless banking services.
Spire conducted this study on MSEs located in four provinces, namely West Java, Bali, South Sulawesi and South Sumatra. It was found that most MSEs face difficulties in accessing support from established financial institutions. As such, businesses are incurring unnecessarily high financing costs and facing constraints to growth.
On the other hand, new technologies and developments such as mobile money and branchless banking are creating fresh opportunities for MSEs to access financial services at more competitive costs via mobile internet technology.
Spire’s study will provide inputs to the Indonesian government on policy formation. It will also benefit stakeholders by supporting business strategy formation for MSEs and financial service providers.
In conclusion, the information obtained through the Spire study would be beneficial for stakeholders to provide inputs on policy recommendations. MSEs could also look to enhance business development and growth, as well as improve their finance access.
Spire Research and Consulting is the leading research consultancy in global emerging markets. Spire's competitive advantage lies in its ability to deliver actionable intelligence on the external business environment in support of its clients’ strategic decision-making in marketing and business development. Spire's clients include 50 Global Fortune 1000 companies and government agencies in 15 countries. For more information, please visit www.spireresearch.com.