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Fintech Lending Industry

November 2019
PRIVATE AND CONFIDENTIAL

1 out of 2 Indonesian Adults is unbanked


Thailand Vietnam Philippines
10, 18% 15, 21% 15, 22%
20, 36%

7, 10%
8, 12%
49, 69% 44, 66%
25, 46%

Malaysia Singapore Indonesia


3, 14% 0, 0%
42; 23%

2, 40%
10, 45%
92; 51%
3, 60%
9, 41%
47; 26%

Banked Underbanked Unbanked


• Indonesian banked adults are among the lowest in SEA, with 51% unbanked population and 26% underbanked
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PRIVATE AND CONFIDENTIAL

Indonesia Fintech Landscape

Indonesia Fintech Ecosystem Distribution


Payment Lending
Payment 38%

Lending 31%

Personal Finance & WM 8%

Comparison 7%

Insurtech 6%

Crowdfunding 4%

POS System 3%

Crypto 2%

Accounting 1%

• Lending comprises 31% of the Indonesia fintech


ecosystem, only behind payment

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PRIVATE AND CONFIDENTIAL

Top 10 Fintech Lending (KPMG)


Established Interest-rate Lender's Min.
Year Target Staff Default Rate range Investment #Lenders

Contractors, creative
2017 industry >40 0.60% 7%-17% 100,000 20,000

2010 Unbanked MSME 135 0.02% 15% 1,000,000 35,000

2015 Unbanked farmers 40 1.20% 12%-30% 10,000 >20,000


Undis
close
2013 Foreign investment d 0.30% 12%-30% 1,000,000 >40,000

2000 Traveloka customer >50 0% 14%-20.80% 500,000 >21,200

2017 Property finance 12 0% 15%-24% 200,000 >500

2015 SME funding 90 0% Product-based 1,000,000 >46,000

2015 SME funding 50 0.13% 9%-20% 100,000 65,000

2010 Unbanked business 50 0.30% 7.2%-12.5% 1,000,000 1,600

2016 Local SME funding 120 0.50% 12%-20% 100,000 >75,000


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PRIVATE AND CONFIDENTIAL

Fintech Lending Model

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PRIVATE AND CONFIDENTIAL

Fintech Lending – Industry Current Phase

Type 1st Wave 2nd Wave 3rd Wave

• The release of
The beginning of Fintech Lending
Fintech socialization regulations (i.e.
The establishment of
Regulation activities with help of POJK 77)
the Fintech Lending
Milestone OJK and the Fintech • The tracking of
Association (AFPI)
Association (e.g. the Fintech Lending
Fintech Festival) performance under
OJK

• Rise in the number


• Rise in the number
Entrance of mostly of productive loan
of consumptive loan
productive loan providers registered
providers registered
Business providers (41%), but under OJK (63%)
under OJK (49%)
Model none of the Fintech • Release of the first
• The addition of six
Milestone Lending players are OJK license status
players with OJK
registered/licensed for a productive
license status as
under OJK Fintech Lending
per May 2019.
player

• First acquisition of a
Acquisition/
Fintech Lending
partnerships of
player by a multi-
The entrance of registered Fintech
Investment finance company
regional venture Lending players by
Highlights • Participation of
capital firms local, bank-backed,
other companies
(from Payment to
and international
e-Commerce)
venture capital firms

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PRIVATE AND CONFIDENTIAL

Fintech Lending Industry Performance

Ticket Size & #Transactions (Borrower) Loan/account


1,800,000 7,446,192 8,000,000 130,000,000 5,300,000
6,687,801
1,600,000 7,000,000
5,910,691 120,000,000 5,100,000
1,400,000 6,000,000
1,200,000 4,900,000
5,000,000 110,000,000
1,000,000 3,615,348
3,811,332 4,700,000
4,000,000 100,000,000
800,000 2,832,751 2,968,613 2,964,567
4,500,000
2,592,504
3,000,000
600,000 90,000,000
2,000,000 4,300,000
400,000
80,000,000 4,100,000
200,000 1,000,000

- - 70,000,000 3,900,000

Transaction Jawa Transaction Luar Jawa Lender Borrower


a. Jawa (Borrower dari Jawa) b. Luar Jawa (Borrower dari Luar Jawa)

Borrower to Lender Ratio Projected Loan Disbursement (IDR Trillion)

25% 180% 223


161%
143% 145% 138% 160%
20% 128% 130%
121% 123% 127% 140%
CAGR=197%
120%
15%
100%
80%
10%
60%
75
5% 40%
20%
0% 0% 23 YTD
60.4 Sep
0.3 2.6 2019

2016A 2017A 2018A 2019F 2020F


New Lender Penetration New Borrower Penetration 8
Borrower to Lender Ratio
PRIVATE AND CONFIDENTIAL

Industry Changes (Traditional vs Modern)


Traditional Lending (Multi-finance case)

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PRIVATE AND CONFIDENTIAL

Industry Drivers

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PRIVATE AND CONFIDENTIAL

Industry Trend
Projected Loan Disbursement (IDR Trillion)
223

CAGR=197%

75

YTD
23 Sep
60.4 2019

0.3 2.6

2016A 2017A 2018A 2019F 2020F

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