Image : Jylan Annisa Mumtaza Syidana shows the certificate for winning 1st place at Ruang KURasi 2025 through her scientific paper on AI and Blockchain-based solutions.
Surabaya, F-ELECTICS – Amid the rapid development of financial technology, many MSMEs in Indonesia still face difficulties in accessing formal financing. Complicated administrative procedures, fragmented data systems among financial institutions, and repetitive verification processes have become real obstacles for millions of business owners. Starting from this issue, Institut Teknologi Sepuluh Nopember (ITS) student, Jylan Annisa Mumtaza Syidana, introduced an AI and Blockchain-based idea that successfully led her to win 1st place at the national competition Ruang KURasi 2025: KUR The Next – Adaptive and Integrative organized by the Coordinating Ministry for Economic Affairs of the Republic of Indonesia.
Mumtaz achieved this accomplishment through her scientific paper entitled “Analysis of an Integrated Blockchain and AI-Based System for Optimizing MSME Financing.” The Artificial Intelligence Engineering student from the Department of Informatics Engineering, Faculty of Intelligent Electrical and Informatics Technology (F-ELECTICS ITS, proposed an integrated financing system concept based on a single registration system. This system would allow MSME owners to register only once in order to access various financing services across multiple financial institutions.
Ruang KURasi 2025 itself is a national scientific writing competition participated in by students, academics, researchers, civil servants, policy analysts, and financial industry practitioners across Indonesia. The competition carried the main theme of adaptive and integrative credit program innovation to support inclusive and sustainable economic growth. Mumtaz explained that the idea emerged from her concern regarding Indonesia’s fragmented MSME financing ecosystem. According to her, many financial institutions still do not have integrated systems, causing data exchange to be slow and inefficient. As a result, MSME owners must repeatedly go through administrative processes when applying for financing from different institutions.
“MSMEs are the backbone of Indonesia’s economy, yet more than 60 percent of MSMEs still face difficulties in accessing formal financing,” said Mumtaz.
She believes that the root of the problem lies not only in limited funding, but also in financing systems that have not been able to simplify the overall financing process. Through her scientific work, Mumtaz integrated Blockchain technology as a distributed ledger to maintain data security and transparency while reducing duplicated verification processes. On the other hand, Artificial Intelligence was utilized through a two-sided matching feature capable of automatically and accurately matching MSME profiles with financing institution criteria.
Not stopping at theoretical concepts, Mumtaz also conducted quantitative analysis through scenario simulations by comparing the implementation of national data integration systems in Singapore through MyInfo and Estonia through X-Road. Based on the simulation results, the system she designed is projected to improve fund disbursement efficiency by up to 68.5 percent.
Throughout the preparation process until the competition took place, Mumtaz received support from the Dean of F-ELECTICS ITS, Prof. Dr. Diana Purwitasari, S.Kom., M.Sc., who served as her supervisor. According to Jylan, the support and trust given to her became a major motivation in completing the research independently.
Furthermore, Mumtaz stated that her success in winning 1st place was supported by three main factors: a concrete and relevant solution for Indonesia’s conditions, a strong research methodology with measurable impact projections, and the alignment of the topic with national strategic policies related to Digital ID and the Open Finance Framework.
Through this competition, Mumtaz also gained many valuable lessons. She realized that no matter how advanced technology is, it will have no value if it cannot solve real problems in society. Besides improving her research skills, the experience also trained her problem-solving abilities, time management, and responsibility in completing projects independently.
Mumtaz also shared motivational messages for FT-EIC ITS students who want to become active in scientific writing competitions and innovative research. According to her, students should not be afraid to start even if their ideas still seem simple.
“Don’t hesitate to start, even if you think your idea is still simple,” she said.
She also encouraged students to become more aware of surrounding issues and use technological knowledge as a tool to create real solutions for society.
“Advanced technology will only truly have value when it is used as a solution to make people’s lives easier and solve real problems in society,” she added.
For Mumtaz, every competition is not only about winning awards, but also about becoming a learning space to develop oneself while measuring how much contribution can be given through the knowledge one possesses. Through this spirit, she hopes more students will dare to create innovations that are not only academically excellent, but also capable of creating real impacts for Indonesia’s future.