Rethink Fintech - Indonesia
09 September 2021
Indonesia’s fast-growing Fintech ecosystem has been largely driven by a proactive government that has introduced rules in areas including peer-to-peer (P2P) lending, digital payments, and most recently open banking, in hopes to encourage innovation and improve financial inclusion. This favourable landscape has attracted the attention of both local and international investors, many of which are betting big on the prospects of digital financial services in the country. Clear regulations, coupled with investors interest, have led to the growth of a dynamic Fintech ecosystem that is now one of the most competitive in the world. The Fintech sector has been very active despite the COVID-19 pandemic. In fact, it may even be said that the pandemic has given Indonesia’s Fintech sector a bigger push as more people turn to digital solutions to carry out their daily activities. Businesses have accelerated their adoption of technology to adapt to, and survive in, the “new normal”.