Amartha Encourages Welfare of Grassroots MSMEs Through Technology, JAKARTA — The potential for ultra-micro businesses in the grassroots segment is still considered very large. However, many challenges faced by these entrepreneurs in developing their business, including limited technology penetration in rural areas.

Entering the age of 13, Amartha as prosperity platform which focuses on empowering grassroots business actors in Indonesia through inclusive financial technology and services, channeling capital of more than IDR 12 trillion to more than 1.7 million business actors.

Andi Taufan Garuda Putra, Founder & CEO of Amartha said that in its 13 year journey, Amartha has made innovations by utilizing technology. “Amartha is constantly innovating, including by utilizing Artificial Intelligence (AI) technology to establishing collaborations with various stakeholders to accelerate the distribution of business capital,” said Andi, Tuesday (16/5/2023).

Several of Amartha’s technological innovations were exposed at the largest technology and data conference in Asia, namely the ‘Product Development Conference’ at Menara Mandiri, Jakarta. The use of artificial intelligence (AI) technology in the Amartha application also increases business capabilities in the grassroots segment.

“The use of AI and other data-based technologies in Amartha’s products and services is expected to help create easier access and can be used to understand the condition of the grassroots segment in the field,” he continued.

Amartha is aggressively developing adaptive technology products and offering comprehensive solutions ranging from big data findings and analysis of market conditions, to simplifying business decision making.

Now Amartha is a P2P Lending provider company in line with strengthening its vision of equitable prosperity. As a prosperity platform, Amartha is expanding its services to the Business to Consumer (B2C) and Business to Business (B2B) segments by combining humanist and technological approaches.

In B2C services, Amartha provides products in the form of a microfinance marketplace and earn. Meanwhile, B2B services include loan channeling, embedded lending, embedded investment, and credit decision engines.

Before reaching this point, Amartha started his journey as a cooperative back in 2010 in a village in Ciseeng, West Java. By implementing the Grameen Bank model and joint responsibility, Amartha has managed to reach 10,000 grassroots businesses through financial services.

The high demand for capital from ultra-micro businesses has made Amartha transform into a financial technology (fintech) company and launch online funding services through the Amartha application in 2017.

As of the first quarter of 2023, Amartha’s business has doubled evenly across all operational areas on the islands of Sumatra, Java and Sulawesi compared to the previous year in the same period. In its 13th year, Amartha is committed to reaching more businesses in the grassroots segment through inclusive technology in order to create sustainable prosperity.


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