Application of Financial Technology and Increasing literacy finance for MSME Business Strengthening Strategy Ariesyahidin, Adisty Riska Hardianti, Aji Seto Arifianto
Pascasarjana Universitas Islam Kadiri, Politeknik Negeri Jember
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 in financing side. Financial Literacy must also be improved in line with usage fintech so that MSMEs are careful in choosing and using financial access to help his business. Besides that, understanding financial literacy is expected 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 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 others 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.
