Summary
The new 'Fintech Playbook: Indonesia' equips Australian fintechs with insights into Indonesia’s rapidly expanding digital finance landscape. This includes:
- a snapshot of emerging opportunities for Australian fintech providers
- market entry strategies and pathways
- an overview of Indonesia’s regulatory landscape for fintech providers
- guidance on collaborations and partnerships with industry, associations and government partners
- information about growing your fintech business in Indonesia.
This Playbook draws on:
- joint industry research led by the Indonesia Fintech Association (AFTECH)
- interviews and consultations with regulators, investors, and ecosystem leaders
- market data and insights from Austrade’s on-ground Landing Pad programs in Indonesia.
Key results
The playbook outlines:
Opportunities
- Indonesia’s tech landscape is expanding beyond payments to digital banking, digital identity, and Buy-Now-Pay-Later. This creates a need for innovative credit scoring, Electronic Know Your Customer (e-KYC), and fraud detection solutions.
- Indonesia’s young, affluent, fintech demographic creates opportunities in lifestyle finance products. This includes wealth management, retail investment, and flexible credit.
- Dynamic digitisation efforts across business and government, and continuous development of digital infrastructure, requires solutions in regtech, fraud prevention, risk assessment, and data management.
Features of Indonesia’s regulatory landscape
- A detailed overview of key regulations and regulators that Fintechs looking to scale in the Indonesian market should consider when designing market strategies and plans.
Localisation strategies
- Integration with Quick Response Code Indonesian Standard (QRIS) and compliance with evolving national standards.
- Partnerships with Indonesian banks, platforms, regulators, systems integrators, investors and industry associations.