27 Sep 2021

BPUF FEB UNS Provides Managerial Training for Sharia Cooperative Manager in Solo

A number of the managers in Koperasi Simpan Pinjam dan Pembiayaan Syariah (Sharia Savings and Loans Cooperative-KSPPS) Solo participated in a managerial training organized by the Business Management Agency of the Faculty of Economics and Business (BPUF), Universitas Sebelas Maret (UNS), Saturday, September 25 at the Amrani Hotel Solo.

The Head of BPUF FEB UNS, Dr. Ahmad Ikhwan Setiawan, SE, MT., in his statements, reveals that the training aims to introduce the significance of fintech implementation to support various cooperative business operations. According to him, fintech implementation in KSPPS Surakarta is still limited, and most of the daily operations activities are still carried out manually, which leads to limited market coverage. This condition is in contrast with the MSMEs spirit in Solo, which encourages online business. Therefore, such asymmetry needs to be addressed immediately to allow KSPPS Surakarta to have a significant role in business and economic growth in Solo.

Additionally, KSPPS is also expected to synergize with the existing financial institutions to increase product innovation and funding. “Cooperatives need to conduct fintech technology assessments to observe various fintech initiatives that are suitable for cooperatives. Afterward, cooperatives need to internalize and socialize the fintech benefits to avoid employees’ resistance. Selecting the right fintech partners is also crucial to find the most capable and efficient financial technology. Periodical monitoring and evaluation on fintech application is carried out to understand its impact on the cooperatives’ performance,” he explained.

Dr. Ikhwan added that there are many advantages of fintech implementation in KSPPS Surakarta. Cooperatives that adopt fintech are more capable of demonstrating an excellent service quality to achieve customers’ or members’ satisfaction. Fintech adoption in cooperatives can enhance its’ brand image as a trusted cooperative due to its capabilities to adopt technological advances.

Fintech adoption can expand a cooperative’s market share, reaching out to more depositors and borrowers, expanding to various cities or even across various regions. Fintech allows communication between depositors and borrowers to be more timely, thus various lending and borrowing decisions can be executed quickly. (Humas FEB)