ABSTRACT
Financial inclusion becomes a global agenda to achieve sustainable development goals (SDGs). In Asia, many countries are engaging financial inclusion as a strategy to reach inclusive growth. Digitalization now brings digital financial inclusion. Peer-to-peer (P2P) lending and philanthropy platforms become a new face of digital financial inclusion in Asia. As the third-largest population in Asia and Southeast Asia’s biggest economy, Indonesia has remarkable untapped financial technology prospects in P2P lending and philanthropy platforms. Indonesia represents a major global economy in Asia, where financial inclusion works and the digital economy has begun to arise and has become the most generous country through Islamic philanthropy. Therefore, by using Indonesia as a case study, this chapter describes P2P lending and philanthropy platform by focusing on three issues: (1) entry barriers; (2) developing digital financial inclusion ecosystems; and (3) social and economic impacts. Overall, this chapter has a mission to invite the public to be involved in financial inclusion as a form of shared social responsibility through digital financial inclusion. The aim is not oriented for commercial financing to the people who are the target of financial inclusion, but as social financing for empowering them to reach a better living standard.
