Design a Non-Banking Financial Transfer Platform for Cooperative Communities

Cooperatives are businesses consisting of individuals or cooperative legal entities with the activities based on principles as well as a people's economic movement based on kinship. Cooperatives are considered as micro finance are not ready to provide the integrated financial services to each of its members. Even though there have been financial institutions such as banks with open banking innovations, this is still not enough to accommodate the needs of cooperatives which are assumed to have their own uniqueness with the principle of member for member. So it is necessary to design a system to accommodate the need for financial services for cooperatives. This paper aims to present a fintech business model for funds transfer between cooperatives without going through a bank, so it is hoped that cooperatives as micro finance can be financially independent and can provide financial technology services to each member. The proposed business model is based on the unique business needs of cooperatives in Indonesia and study literature on several studies related to financial technology.