Application of Financial Technology and Increasing Literacy Finance for MSME Business Strengthening Strategy

DOI

10.2991/978-2-38476-118-0_184How to use a DOI?

Keywords

Financial Technology; MSMEs; Financial Literacy

Abstract

Micro, Small, and Medium Enterprises (MSMEs) have a strategic role in national economic development, including in the region of Kediri City. Covid-pandemic 19 is a challenge for SMEs, not even a few business units which must stop operating. The new recovery adaptation period is an opportunity for the MSME sector to improve strategies, one of which is a strategy in the financial area such as capital and payment transactions. Financial Technology (Fintech) can be used as a tool that can help the development of MSME businesses, especially on the financing side. Financial Literacy must also be improved in line with the usage of fintech so that MSMEs are careful in choosing and using financial access to help their business. Besides that, understanding financial literacy is expected so MSMEs will be able to use and manage their financial resources. The method used in this paper is descriptive qualitative analysis and study literature to explain the application of Financial Technology (Fintech) and reinforcement of financial literacy to restore MSME businesses in the new adaptation period in Indonesia. The results of the literature study of previous research journals and data from sources show that Fintech can support the limited needs of MSMEs only at banks or other financial services, especially in funding. Literacy Finance along with the use of Fintech will strengthen the MSME business in the future new adaptation. In addition, financial literacy is also needed by MSMEs to manage their financial resources wisely.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Arisyahidin
AU  - Adisty Riska Hardianti
AU  - Aji Seto Arifianto
PY  - 2023
DA  - 2023/10/10
TI  - Application of Financial Technology and Increasing Literacy Finance for MSME Business Strengthening Strategy
BT  - Proceedings of the 4th Borobudur International Symposium on Humanities and Social Science 2022 (BIS-HSS 2022)
PB  - Atlantis Press
SP  - 1619
EP  - 1626
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-118-0_184
DO  - 10.2991/978-2-38476-118-0_184
ID  - 2023
ER  -