“We are committed to continue innovating, providing what our users need, and continuing our education and literacy initiatives, so that more people would have a better financial future through investment in the capital market,” CEO Bibit.id Sigit Kouwagam noted in a press release issued here on Saturday.
Kouwagam made the statement following two awards that the start-up won. First, CEO Kouwagam was awarded the ASEAN Fintech Leaders in the 2021 SFF Global Fintech Awards.
This award was given by the Singapore FinTech Association to five fintech leaders in the ASEAN region after a competitive selection by an independent panel led by PricewaterhouseCoopers (PwC) Singapore from nearly 300 candidates.
The most recent accolade received was when Bibit.id was bestowed The Best Fintech Company award during the CNBC Indonesia Awards 2021 on November 15, 2021.
Bibit.id won over other candidates, clocking a solid score of 95 in a scale of 1 to 10, with competitive advantages, in terms of the user experience, ease of use, convenience, and flexibility.
The awards will be a motivation for the Bibit.id family to consistently provide an easy, safe, and convenient investment experience to over two million users, he remarked.
Concurrently, they will serve as a reminder to Bibit.id that there is unfinished work in increasing financial literacy, he noted.
Based on the 2019 national survey of financial literacy (SNLIK), the financial literacy index in Indonesia only touched 38 percent.
“In line with Bibit’s vision to open wider access to all groups of Indonesian society to invest in the capital market, we realize that equipping the users with sufficient and holistic knowledge should be our main priority. These educational efforts are very important to safeguard the public from being trapped by illegal investments and to help them make informed and responsible investment decisions,” he expounded.
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Bibit has taken various initiatives to help improve financial literacy, such as a webinar, mutual fund investment class, education to various communities across the country, and live sessions on Bibit’s official social media accounts, he noted.
In 2021, Bibit.id conducted over 50 education and literacy sessions for the public, he noted.
The number of mutual fund investors rose to 6.1 million in October 2021, from 3.2 million investors by the end of 2020.
“The figure should be complemented by Bibit.id and other industry players’ responsibility to ensure that all investors are financially literate,” he remarked.
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Reporter: Juwita Trisna Rahayu
Editor: Rahmad Nasution
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