ALAMI Sharia has experienced an 11% increase in brand awareness and doubled its utilization within six months.
Heaptalk, Jakarta — Indonesia‘s Sharia-based peer-to-peer (P2P) lending startup, ALAMI, has outpaced its rivals in growth, experiencing an 11% increase in brand awareness and doubling its utilization within six months.
The startup financing disbursement activity also amplifies this enhancement. As delivered by the President Director of ALAMI Sharia, Harza Andityo, ALAMI has channeled over US$332 million for productive financing (equals Rp5 trillion), and contributed to more than 12,000 financing projects.
“This disbursement would not have been possible without the contribution and trust of our funders or investors, who currently number more than 140,000 users,” added Harza.
Refers to the latest research by the UK-based internet-based market research and data analytics, YouGov, the P2P Lending market share has soared by 28% in just six months. The study also unveiled a 28% growth in the market share of P2P Lending in just six months, despite the economic challenges faced post-pandemic. This research shows a fantastic enhancement within six months, this financial technology startup claimed its users perceive ALAMI Sharia fulfills the three critical factors when choosing investment instruments, including:
- The platform is licensed and closely supervised status by Indonesia’s Financial Services Authority (OJK)
- The application’s transparency in providing information to the users
- ALAMI’s robust operational performance despite ongoing macroeconomic challenges
Despite possessing the crucial factors in investing the fund, ALAMI also continues to reinforce its marketing strategy to introduce its P2P Lending service for the community, one of which is utilizing the effective primary channels, including Facebook, Twitter, Instagram, Youtube, and Word of Mouth (WOM). To enhance public awareness, this fintech company consistently grants education and literacy on Sharia-based P2P Lending through multiple self-initiated efforts and cooperation with numerous stakeholders, spanning the academic community and OJK.
This positive response is also supported by the statement of the Institute’s Deputy Commissioner, Imansyah, who explained that the performance of P2P Lending fintech has significantly improved, with the current number of licensed P2P Lending platforms in Indonesia reaching 102, including seven Sharia-based P2P Lending applications.
He further revealed that total loans accumulated in the past six years had reached Rp528.01 trillion, with an outstanding value of Rp51.12 trillion as of December 2022. The number of P2P Lending users has reached 100.8 million users, encompassing both borrowers and lenders. Nearly half of Indonesia’s population has used the fintech P2P lending platform.
In terms of assets, the overall assets of P2P Lending fintech amount to Rp5.51 trillion, with Rp5.38 trillion in conventional provider assets and Rp133.64 billion in Sharia-based provider assets. The non-performing loan (NPL) rate stands relatively low at 2.78%.
From this promising potential, Imansyah also looks forward to the ongoing improvement in the performance of P2P Lending fintech and its positive contribution to financing, particularly for micro and Small Enterprises (SMEs).
