Revolutionizing Batik: How Fintech Empowers Malang's MSMEs for Economic Growth

Umi nandiroh; Irma Hidayati; Puji Handayati; Agus Hermawan

doi:10.55227/ijhess.v3i4.776

Authors

Umi nandiroh Universitas Negeri Malang, Universitas Islam malang
Irma Hidayati Student Of The Doctoral Program In Management Science, Faculty Of Economics And Business, Unvesitas Negeri Malang And Lecture Of Universitas Islam Malang, Indonesia
Puji Handayati Faculty Of Economics And Business, Unvesitas Negeri Malang
Agus Hermawan Faculty Of Economics And Business, Unvesitas Negeri Malang

DOI:

https://doi.org/10.55227/ijhess.v3i4.776

Keywords:

Fintech, Digital Finance, MSMEs Performance, Case Study

Abstract

The study looks at how MSME's traditional business practices are being revolutionized by fintech, digital financial services, especially given Indonesia's burgeoning digital economy. The difficulty of MSMEs in obtaining Standard Financial Services is a major issue in this study, which has historically hindered their ability to grow and run more efficiently. Fintech solutions are becoming an important tool for small businesses because of their accessibility, cost efficiency, and simple procedures. Batik Malang MSMEs can break through financial barriers, gain access to new markets, and become more competitive by implementing fintech. Using in-depth interview techniques with owner Samtana Indonesia, one of Malang Batik entrepreneurs. The research explores a range of fintech services, including online lending platforms, digital payments, and e-commerce integration, showing how these services can promote a wider range of consumers, better financial management, and higher sales. Fintech integration improves the overall performance and sustainability of these MSMEs by enabling them to interact with the digital economy, which is not limited to a single country. The results of this case study also address the broader impact of fintech adoption on the Indonesian economy. It highlights how fintech is helping to advance financial inclusion, especially for small and medium-sized businesses, which is critical to Indonesia's economic expansion. In conclusion, the results of this study offer a thorough insight into how fintech adoption is transforming Batik Malang MSMEs, emphasizing the role of fintech adoption in increasing business productivity, expanding financial accessibility, and advancing Indonesia's overall economic growth.

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