世界银行：数字信贷的兴起与监管：印尼的经验教训（英文版）

This paper examines the rise of fintech lending in Indonesia, using a dataset of more than 139,000 individual credit records representative of the full spectrum of consumer loans in the country. The analysis reveals that fintech lending has become deeply embedded in Indonesia’s financial landscape, with more than 40 percent of borrowers holding at least one fintech loan at the end of the sample period. While digital lenders have expanded financial inclusion by reaching significant numbers of