“Small and Medium-sized Enterprises (SMEs) effectively sustains economic resilience of this nation. Thus, this nation provides them knowledge of Financial Technology (FinTech) to confront Industrial Revolution 4.0,” declared Vice Minister of Finance of the Republic of Indonesia Prof. Dr. Mardiasmo, MBA., CfrA., Ak., C.A.

At a national seminar as a part of launching of Doctoral Program of Management of UMY on Saturday (26/1) at A.R. Fachruddin A of UMY, Mardiasmo informed that this state is seeking to optimize economic quality by providing funds for the FinTech to SMEs. However, an issue emerges in the economic equality process that many people assume that the FinTech is only for conglomerates and great business people so that lower-middle class gets lower, and the conglomerates becomes more well-established as well as can survive in this industrial revolution.

According to data of Ministry of Finance of the Republic of Indonesia, there are 23,864 micro enterprises, 2,399 small enterprises, and 412,000 medium enterprises. The businesses have proven effective to withstand Indonesian economy. Mardiasmo added that the SMEs play roles in various sectors, provide jobs, become main actors of local economy and community empowerment, create new markets, turn innovation sources, and maintain payment balance of exports.

“The SMEs become drivers of economy and inclusive economic growth. They also give incredible occasions to support Indonesian economy,” maintained Mardiasmo.

Hence, the issue of FinTech becomes a challenge for all Indonesian community elements, including higher education. He inserted that Doctoral Program of Management of UMY should produce the best graduates as rahmatan lil ‘alamin. “Muhammadiyah has created the best Indonesian generation. I hope that Islam as rahmatan lil ‘alamin can be implemented so that graduates of the program can provide solutions of community welfare,” he wished.

Meanwhile, Rector of UMY Dr. Ir. Gunawan Budiyanto asserted Doctoral Program of Management of UMY the first doctoral program among 47 Muammadiyah universities. A quality assurance team of UMY will ensure quality of the doctoral program. “The doctoral program is a huge stepping stone for UMY turning into 38 years old. I wish that the doctoral program can produce graduate benefitting community and economic thinkers for this nation,” he expected.