Last modified: 2024-01-31
Abstract
The study looks at how these traditional business practices of MSMEs are being revolutionized by fintech and digital financial services, especially given Indonesia's burgeoning digital economy. The difficulty of Malang Batik MSMEs in obtaining standard financial services is a critical issue in this study, which has historically hindered their ability to grow and run more efficiently. Fintech solutions are becoming essential for small businesses because of their accessibility, cost efficiency, and simple procedures. By implementing fintech, Batik Malang MSMEs can break through financial barriers, gain access to new markets, and become more competitive. Using in-depth interview techniques with the owner of Santana Indonesia, one of the Malang Batik entrepreneurs. The research explores a range of fintech services, including online lending platforms, digital payments, and e-commerce integration, showing how these services can lead to broader consumer reach, better financial management, and higher sales. The integration of fintech improves these MSMEs' overall performance and sustainability by allowing them to interact with the digital economy, which is not limited to one country. The results of this case study also discuss the broader impact of fintech adoption on the Indonesian economy. It highlights how fintech is helping advance financial inclusion, especially for small and medium enterprises, which is essential for Indonesia's economic expansion. In conclusion, the results of this study offer a thorough insight into how fintech adoption is transforming Malang Batik MSMEs, emphasizing the role of fintech adoption in increasing business productivity, expanding financial accessibility, and advancing Indonesia's overall economic growth.
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Keywords: Fintech, Digital Finance, MSMEs Performance, Case Study