Fintech has grown rapidly in Indonesia in 2019. The fintech ecosystem encompasses various financial services enabled by technology, especially lending and payments. Over 100 fintech lending companies are licensed by OJK, while payment and remittance are regulated by Bank Indonesia. Major players like OVO have become unicorns, while others are valued over $100 million. Fintech addresses the large unbanked population and is expected to partner with traditional banks and businesses to further financial inclusion through innovative products and services. Both OJK and Bank Indonesia regulate the expanding fintech industry.
MEDICI’s new ‘Indonesia FinTech Report 2021’ analyzes the country’s FinTech sector and trends in the last three years—a deep-dive by segments & subsegments, funding patterns, M&As, ecosystem partnerships, industry drivers, and perspectives drawn out of regulatory, geopolitical, economic, and market dynamics.
Indonesia Digital Economic Outlook 2018Bari Arijono
Digital Economic growth projection in Indonesia in 2018, political year, regional elections are taking place in some provinces and next year 2019 biggest democracy party is presidential and vice presidential election.
It is estimated that digital campaign spending will rise significantly, political spending through the highest social media and advertising services on the internet will be met by candidates for future leaders.
Please contact me if you would like more information to win a digital match at email: idigitalnation@gmail.com
As part of the European Indonesian Business Network initiative "Gateways to ASEAN: ICT Opportunities in Indonesia", had a chance to travel to the Polish cities of Warsaw, Wroclaw and Poznan to share with Polish entrepreneurs the challenges and opportunities of conducting business in Indonesia.
The main topics of conversation included Digital, Mobile, FinTech Development & Logistics.
The discussions focused on providing attendees with practical perspectives on where the ICT business potential of Indonesia lies and what is to be expected when choosing to enter the country's high potential market.
The ICT Business Opportunities in Indonesia sessions have the support of the Polish Agency for Enterprise Development (PARP), and are co-organized by the Polish Chamber of Commerce (in Warsaw), the Wroclaw Center of Technology Transfer (in Wroclaw) and the Poznan Science and Technology Park (Poznan).
Reimagining ASEAN: The digital journey to 2025Varun Mittal
Evolving digital technologies have the potential to transform industries, enrich lives and propel global progress. For ASEAN in particular, embracing digital technology could prove the key to a more dynamic, networked and innovative region by 2025 – driving new economic activities and realising the full potential of its young demographic. So what are the opportunities – and main barriers – to a globally recognized and digitised ASEAN? And is there a chance that greater digitalisation could backfire?
MEDICI’s new ‘Indonesia FinTech Report 2021’ analyzes the country’s FinTech sector and trends in the last three years—a deep-dive by segments & subsegments, funding patterns, M&As, ecosystem partnerships, industry drivers, and perspectives drawn out of regulatory, geopolitical, economic, and market dynamics.
Indonesia Digital Economic Outlook 2018Bari Arijono
Digital Economic growth projection in Indonesia in 2018, political year, regional elections are taking place in some provinces and next year 2019 biggest democracy party is presidential and vice presidential election.
It is estimated that digital campaign spending will rise significantly, political spending through the highest social media and advertising services on the internet will be met by candidates for future leaders.
Please contact me if you would like more information to win a digital match at email: idigitalnation@gmail.com
As part of the European Indonesian Business Network initiative "Gateways to ASEAN: ICT Opportunities in Indonesia", had a chance to travel to the Polish cities of Warsaw, Wroclaw and Poznan to share with Polish entrepreneurs the challenges and opportunities of conducting business in Indonesia.
The main topics of conversation included Digital, Mobile, FinTech Development & Logistics.
The discussions focused on providing attendees with practical perspectives on where the ICT business potential of Indonesia lies and what is to be expected when choosing to enter the country's high potential market.
The ICT Business Opportunities in Indonesia sessions have the support of the Polish Agency for Enterprise Development (PARP), and are co-organized by the Polish Chamber of Commerce (in Warsaw), the Wroclaw Center of Technology Transfer (in Wroclaw) and the Poznan Science and Technology Park (Poznan).
Reimagining ASEAN: The digital journey to 2025Varun Mittal
Evolving digital technologies have the potential to transform industries, enrich lives and propel global progress. For ASEAN in particular, embracing digital technology could prove the key to a more dynamic, networked and innovative region by 2025 – driving new economic activities and realising the full potential of its young demographic. So what are the opportunities – and main barriers – to a globally recognized and digitised ASEAN? And is there a chance that greater digitalisation could backfire?
LightCastle Partners - Digital Commerce in Bangladesh : Policies & PossibilitiesLightCastle Partners
Despite the pandemic, Bangladesh, till Sep 2020, has clocked a GDP growth rate of 5.2% (ADB, 2020) - one of the highest in Asia.
Digital transactions are growing faster than ever. The first three quarters of 2020 saw a total od USD 65 billion+ digital transactions, where 72% of the transactions were dominated by MFS banking. With 96 million registered MFS users and USD 202 million daily MFS transactions, digital transactions can unlock new potentials of the digital commerce industry.
The eCommerce market (including f-commerce) has grown at a steady pace to USD 2.1 billion in 2020. The market holds the potential to become USD 3 billion by 2023 and can create around five lakh jobs in digital commerce industry.
Can the Digital Commerce Industry become a critical driving force of the future economy of Bangladesh?
LightCastle Partners presents "Digital Commerce in Bangladesh: Policies & Possibilities"
Global Alternative Lending Industry amid COVID-19Sam Ghosh
Alternative Lending emerged to provide credit access to individuals and businesses who lack credit history or in other words - the ‘thin file’ borrowers.
The primary segments of Alternative Lending are Consumer Finance and Small and Medium-Sized Business Finance.
The COVID-19 pandemic is causing most economies to shrink in 2020 causing enormous job losses, revenue losses for businesses, and in some cases business closures.
Consumer spending took a significant hit due to the pandemic. As per data from the National Bureau of Statistics of China, Retail Sales of Consumer Goods contracted by 20.5% in January-February 2020 compared to January-February 2019. The growth remained in the negative territory for the first two quarters of 2020.
Data from VISA and Mastercard show a drastic drop in credit-card debt use. Demand for household short-term credit is still subdued. As unemployment rates improve and retail sales pick up the pace, demand for consumer finance is expected to improve in the coming quarters.
Many SMBs are going through severe financial distress primarily due to lower demand and lack of access to credit. Many may not recover and close their businesses.
Lack of demand may hinder the SMBs from accessing and/or getting approval of business loans.
On the supply side, the alternative lending companies may struggle to access low-cost capital due to deteriorating balance sheets of the banks and NBFCs who likely to increase risk-premium and even avoid exposure to the high-yield segments.
Increasing bad loans may push policymakers to put safeguards in place which may lower profitability and limit access to capital for the alternative lenders. For example, China's Supreme Court slashed the legally protected ceiling of informal lending rate in August 2020. This is expected to unfavorably impact the profitability of alternative lenders.
Established fintech (Square, PayPal, etc.) are entering the lending business, and as credit demand improves we may see more of this trend.
Many large retailers such as Amazon, Macy’s, etc. partnered with financial services companies to extend consumer credit to their customers. We may expect to see acquisitions of fintech lenders by the retailers.
Stressed balance sheet likely to increase M&A activities in the sector.
The Fintech Vietnam Startup Overview. Now counting 39 original Vietnamese Fintech Startups. Any feedback more than welcome.
Check also the article here http://fintechnews.sg/2838/studies/vietnam-fintech-startup-report-update-explores-vietnams-massive-fintech-opportunities/
SME Fintech Opportunity in the Developing CountriesSam Ghosh
There were around 30 million Small and Medium Size Enterprises (SMEs) in the developing countries before the pandemic. 2/3rd of global SMEs were located in developing countries. Developing countries with top SME populations are China, Thailand, Bangladesh, Indonesia, Tanzania, India, and Brazil, etc.
Most of these SMEs in the developing countries are in the informal sector lacking formal financing options and proper business processes. The pandemic has tested these SMEs to the extreme damaging their existing sales channels, supply chain, and financing sources. Governments in the developing countries (ex. China) pushing the SMEs for digital adoption to deal with revenue losses amid social distancing. This policy support can be very beneficial for startups in the sector.
COVID-19 pandemic has accelerated digital adoption in developing countries as consumers are forced to adopt digital channels for services such as education, healthcare, and grocery, etc. At the same time, small businesses are adopting digital channels for survival. This creates a unique opportunity for tech startups serving small businesses in developing countries.
The major problems that the small businesses are facing are revenue losses, operating challenges due to social distancing, lack of credit access, supply-side issues such as labour shortages, raw material access, etc. Tech startups can tap into the market by providing solutions to these pain points - sales platforms to deal with revenue losses, process automation to deal with operating challenges, alternative lending to deal with lack of credit access, HR management technologies to deal with the labour shortages, etc.
Small businesses often do not have defined operating processes. Changing customer preferences for digital modes require that small businesses also define their internal processes. The tech companies in this sector need to hand-hold small businesses by helping them design internal processes. Process automation companies are likely to benefit from this.
Often small businesses are dependent on one or few key people. As the pandemic brought drastic changes to our daily lives, the human aspect of the pandemic cannot be ignored. For example, many female entrepreneurs experienced the increased daily burden of homeschooling their children as the schools were closed. This kind of aspect brings unique opportunities for tech companies to design products for the sector.
Emerging Cyber Security Opportunity in IndiaSam Ghosh
$1.5 Trillion - that was the size of the Global cybercrime market in 2018. In comparison, the Indian GDP in the same year was US$2.7 trillion. The Dark web activity has spiked over 300% since 2017. As per NortonLifeLock Cyber Safety Insights Report, 2019, globally 350 million consumers became the victim of cybercrime only in one year.
Back in India, the rapid growth of data-driven tech companies prompted the lawmakers to enact a legal framework for cybersecurity, especially around financial services. These legal requirements have driven the Indian Cybersecurity industry.
Just when the COVID-19 lockdowns started, cyber-attacks also surged. Between March and April 2020, India has witnessed a staggering 86% increase in cyber-attacks.
Due to social distancing, many industries are rapidly getting digitised almost in a haphazard manner, bringing more and more critical data online. This is creating a fertile ground for cybercrime.
The pandemic is bringing unique challenges for both enterprises and individuals in terms of protecting their sensitive data from cyber-attacks.
People who never shopped online are now shopping online, people who shopped online before are shopping for things online which they never shopped online. The rapid growth of e-payments is bringing unique challenges not only in terms of payment security but also privacy and fake/illegal eCommerce sites.
The IT spending is expected to be lower this year but companies are prioritising security spending with spending on cloud and collaboration.
The medium to long-term prospects for the cyber-security industry looks promising given the rapid digitisation of digitally naive industries, increasing access to enterprise systems from mobile devices, migration of critical processes to the cloud systems, and increasing online transactions, etc.
Apart from that, as many small and medium-sized businesses are forced to adapt to the increasingly digital world, demand for cyber-security products/platforms is expected to increase as many smaller businesses may not have the resources to avail security consulting services.
Building up the e-gaming ecosystem of India and the influence of smartphonesRedSeer
Survey respondents were asked how “important in life” is leisure time. Results for India based on more than 4,000 respondents. *GDP per capita is expressed in 2011 purchasing power parity (PPP) dollars, for the year 2014.
Payments Landscape in the Philippines Market 2021 - AarkstoreAarkstore Enterprise
Payments Landscape in the Philippines provides values and volumes for a number of key performance indicators in the industry, including cash, payment cards, and cheques. Provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f).
Flipkart-Walmart deal has been a landmark moment in the history of e-tailing. Since its humble beginnings in 2000, e-tailing has come a long way. The growth story of the industry in the last 10 years has been nothing less than remarkable. While the growth had slowed down between 2014-2016 due to multiple factors like DIPP regulations and demonetization, 2017 has seen a turnaround for the industry.
An estimated 96 Mn Indian users are forecast to pay
for games in 2021. Paid gamers are forecast to reach
~240 Mn (3x) in the next 5 years. Survey results show that up to 50% of new midcore and hardcore game users pay $7-$14 per month.
Data-driven macro perspectives on how digital adoption evolved in South Korea
For any inquiries regarding this research, please contact kh.lee@murexpartners.com.
The promise — and potential — of blockchain to drive social impact is massive, but how much of it is hype and how much is reality? This slideshow includes highlights and case studies from the Stanford Graduate School of Business study “Blockchain for Social Impact: Moving Beyond the Hype.” It includes data on the landscape as a whole, as well as spotlights on eight sectors: Agriculture, Democracy, Identity, Energy, Financial Inclusion, Health, Land Rights, and Philanthropy.
Food Services industry along with aviation, hospitality etc. has been severely affected by the COVID-19 pandemic. The pandemic may structurally change the food-services industry as the pandemic may bring permanent changes to consumer preferences.
How will this shift in preferences impact the food-tech companies?
Digital Economy in Indonesia: Prospect, Challenges, and Research AgendaWirawan Agahari
Digital economy landscape in Indonesia and its implications to development. Presented by Centre for Innovation Policy and Governance (CIPG) at the 1st Development Implications of Digital Economy (DIODE) workshop.
Demographics and socio-economic classes (across gender, rural/urban, income groups)
Type and nature of internet usage (content consumption, service transactions, product transactions, etc.)
Source: Cases study done by Google & its research partner
25 BIG TECH PREDICTIONS FOR 2016 - REPORT BY BI INTELLIGENCE TEAMMYO AUNG Myanmar
Inside you’ll find details on the team’s top predictions for 2016 that they believe will shape the year (and years) ahead.
https://intelligence.businessinsider.com/
Research for the Digital Age
Welcome to BI Intelligence, Business Insider’s premium research service. Trusted by thousands of industry professionals, startups, digital agencies, investment firms, media conglomerates, and Fortune 1000 companies; we offer insight and research essential to your professional decision making and advancement.Whether you need information on mobile, digital media, e‑commerce, the Internet of Things (IoT), or payments; we have you covered with daily newsletters, in‑depth research reports, and corporate access solutions.
Below are the package options to access our exclusive insight and research.iPhone and Laptop
The Philippines’ fintech ecosystem is brimming with innovation with a vibrant mix of entrepreneurs attempting to fill in the gap within the financial system. Despite the strides that the country has made in this space, the Philippines’ narrative has often been overlooked by international media when examining financial innovations within South East Asia.
I was commissioned by Fintechnews Network to create this report, from research to layout.
For more service like this, reach me at LinkedIn@jocelyn18 or jocelyncy@gmail.com. Thanks!
Fintech is gaining popularity recently, a great number of Fintech startups are emerging nowadays. Fintech has huge potential in Indonesia as it provides solutions which are not offered by conventional banking institutions. New model of payment and investment option become more familiar through online financial service. Fintech in Indonesia does not spared from government regulation, to make sure financial products that startup's offered are not harmful toward society, OJK as the policy holder will soon pass a law to regulate the growing fintech startup in Indonesia. All information about fintech startup, available sectors, and forecast growth will be available in this report.
LightCastle Partners - Digital Commerce in Bangladesh : Policies & PossibilitiesLightCastle Partners
Despite the pandemic, Bangladesh, till Sep 2020, has clocked a GDP growth rate of 5.2% (ADB, 2020) - one of the highest in Asia.
Digital transactions are growing faster than ever. The first three quarters of 2020 saw a total od USD 65 billion+ digital transactions, where 72% of the transactions were dominated by MFS banking. With 96 million registered MFS users and USD 202 million daily MFS transactions, digital transactions can unlock new potentials of the digital commerce industry.
The eCommerce market (including f-commerce) has grown at a steady pace to USD 2.1 billion in 2020. The market holds the potential to become USD 3 billion by 2023 and can create around five lakh jobs in digital commerce industry.
Can the Digital Commerce Industry become a critical driving force of the future economy of Bangladesh?
LightCastle Partners presents "Digital Commerce in Bangladesh: Policies & Possibilities"
Global Alternative Lending Industry amid COVID-19Sam Ghosh
Alternative Lending emerged to provide credit access to individuals and businesses who lack credit history or in other words - the ‘thin file’ borrowers.
The primary segments of Alternative Lending are Consumer Finance and Small and Medium-Sized Business Finance.
The COVID-19 pandemic is causing most economies to shrink in 2020 causing enormous job losses, revenue losses for businesses, and in some cases business closures.
Consumer spending took a significant hit due to the pandemic. As per data from the National Bureau of Statistics of China, Retail Sales of Consumer Goods contracted by 20.5% in January-February 2020 compared to January-February 2019. The growth remained in the negative territory for the first two quarters of 2020.
Data from VISA and Mastercard show a drastic drop in credit-card debt use. Demand for household short-term credit is still subdued. As unemployment rates improve and retail sales pick up the pace, demand for consumer finance is expected to improve in the coming quarters.
Many SMBs are going through severe financial distress primarily due to lower demand and lack of access to credit. Many may not recover and close their businesses.
Lack of demand may hinder the SMBs from accessing and/or getting approval of business loans.
On the supply side, the alternative lending companies may struggle to access low-cost capital due to deteriorating balance sheets of the banks and NBFCs who likely to increase risk-premium and even avoid exposure to the high-yield segments.
Increasing bad loans may push policymakers to put safeguards in place which may lower profitability and limit access to capital for the alternative lenders. For example, China's Supreme Court slashed the legally protected ceiling of informal lending rate in August 2020. This is expected to unfavorably impact the profitability of alternative lenders.
Established fintech (Square, PayPal, etc.) are entering the lending business, and as credit demand improves we may see more of this trend.
Many large retailers such as Amazon, Macy’s, etc. partnered with financial services companies to extend consumer credit to their customers. We may expect to see acquisitions of fintech lenders by the retailers.
Stressed balance sheet likely to increase M&A activities in the sector.
The Fintech Vietnam Startup Overview. Now counting 39 original Vietnamese Fintech Startups. Any feedback more than welcome.
Check also the article here http://fintechnews.sg/2838/studies/vietnam-fintech-startup-report-update-explores-vietnams-massive-fintech-opportunities/
SME Fintech Opportunity in the Developing CountriesSam Ghosh
There were around 30 million Small and Medium Size Enterprises (SMEs) in the developing countries before the pandemic. 2/3rd of global SMEs were located in developing countries. Developing countries with top SME populations are China, Thailand, Bangladesh, Indonesia, Tanzania, India, and Brazil, etc.
Most of these SMEs in the developing countries are in the informal sector lacking formal financing options and proper business processes. The pandemic has tested these SMEs to the extreme damaging their existing sales channels, supply chain, and financing sources. Governments in the developing countries (ex. China) pushing the SMEs for digital adoption to deal with revenue losses amid social distancing. This policy support can be very beneficial for startups in the sector.
COVID-19 pandemic has accelerated digital adoption in developing countries as consumers are forced to adopt digital channels for services such as education, healthcare, and grocery, etc. At the same time, small businesses are adopting digital channels for survival. This creates a unique opportunity for tech startups serving small businesses in developing countries.
The major problems that the small businesses are facing are revenue losses, operating challenges due to social distancing, lack of credit access, supply-side issues such as labour shortages, raw material access, etc. Tech startups can tap into the market by providing solutions to these pain points - sales platforms to deal with revenue losses, process automation to deal with operating challenges, alternative lending to deal with lack of credit access, HR management technologies to deal with the labour shortages, etc.
Small businesses often do not have defined operating processes. Changing customer preferences for digital modes require that small businesses also define their internal processes. The tech companies in this sector need to hand-hold small businesses by helping them design internal processes. Process automation companies are likely to benefit from this.
Often small businesses are dependent on one or few key people. As the pandemic brought drastic changes to our daily lives, the human aspect of the pandemic cannot be ignored. For example, many female entrepreneurs experienced the increased daily burden of homeschooling their children as the schools were closed. This kind of aspect brings unique opportunities for tech companies to design products for the sector.
Emerging Cyber Security Opportunity in IndiaSam Ghosh
$1.5 Trillion - that was the size of the Global cybercrime market in 2018. In comparison, the Indian GDP in the same year was US$2.7 trillion. The Dark web activity has spiked over 300% since 2017. As per NortonLifeLock Cyber Safety Insights Report, 2019, globally 350 million consumers became the victim of cybercrime only in one year.
Back in India, the rapid growth of data-driven tech companies prompted the lawmakers to enact a legal framework for cybersecurity, especially around financial services. These legal requirements have driven the Indian Cybersecurity industry.
Just when the COVID-19 lockdowns started, cyber-attacks also surged. Between March and April 2020, India has witnessed a staggering 86% increase in cyber-attacks.
Due to social distancing, many industries are rapidly getting digitised almost in a haphazard manner, bringing more and more critical data online. This is creating a fertile ground for cybercrime.
The pandemic is bringing unique challenges for both enterprises and individuals in terms of protecting their sensitive data from cyber-attacks.
People who never shopped online are now shopping online, people who shopped online before are shopping for things online which they never shopped online. The rapid growth of e-payments is bringing unique challenges not only in terms of payment security but also privacy and fake/illegal eCommerce sites.
The IT spending is expected to be lower this year but companies are prioritising security spending with spending on cloud and collaboration.
The medium to long-term prospects for the cyber-security industry looks promising given the rapid digitisation of digitally naive industries, increasing access to enterprise systems from mobile devices, migration of critical processes to the cloud systems, and increasing online transactions, etc.
Apart from that, as many small and medium-sized businesses are forced to adapt to the increasingly digital world, demand for cyber-security products/platforms is expected to increase as many smaller businesses may not have the resources to avail security consulting services.
Building up the e-gaming ecosystem of India and the influence of smartphonesRedSeer
Survey respondents were asked how “important in life” is leisure time. Results for India based on more than 4,000 respondents. *GDP per capita is expressed in 2011 purchasing power parity (PPP) dollars, for the year 2014.
Payments Landscape in the Philippines Market 2021 - AarkstoreAarkstore Enterprise
Payments Landscape in the Philippines provides values and volumes for a number of key performance indicators in the industry, including cash, payment cards, and cheques. Provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f).
Flipkart-Walmart deal has been a landmark moment in the history of e-tailing. Since its humble beginnings in 2000, e-tailing has come a long way. The growth story of the industry in the last 10 years has been nothing less than remarkable. While the growth had slowed down between 2014-2016 due to multiple factors like DIPP regulations and demonetization, 2017 has seen a turnaround for the industry.
An estimated 96 Mn Indian users are forecast to pay
for games in 2021. Paid gamers are forecast to reach
~240 Mn (3x) in the next 5 years. Survey results show that up to 50% of new midcore and hardcore game users pay $7-$14 per month.
Data-driven macro perspectives on how digital adoption evolved in South Korea
For any inquiries regarding this research, please contact kh.lee@murexpartners.com.
The promise — and potential — of blockchain to drive social impact is massive, but how much of it is hype and how much is reality? This slideshow includes highlights and case studies from the Stanford Graduate School of Business study “Blockchain for Social Impact: Moving Beyond the Hype.” It includes data on the landscape as a whole, as well as spotlights on eight sectors: Agriculture, Democracy, Identity, Energy, Financial Inclusion, Health, Land Rights, and Philanthropy.
Food Services industry along with aviation, hospitality etc. has been severely affected by the COVID-19 pandemic. The pandemic may structurally change the food-services industry as the pandemic may bring permanent changes to consumer preferences.
How will this shift in preferences impact the food-tech companies?
Digital Economy in Indonesia: Prospect, Challenges, and Research AgendaWirawan Agahari
Digital economy landscape in Indonesia and its implications to development. Presented by Centre for Innovation Policy and Governance (CIPG) at the 1st Development Implications of Digital Economy (DIODE) workshop.
Demographics and socio-economic classes (across gender, rural/urban, income groups)
Type and nature of internet usage (content consumption, service transactions, product transactions, etc.)
Source: Cases study done by Google & its research partner
25 BIG TECH PREDICTIONS FOR 2016 - REPORT BY BI INTELLIGENCE TEAMMYO AUNG Myanmar
Inside you’ll find details on the team’s top predictions for 2016 that they believe will shape the year (and years) ahead.
https://intelligence.businessinsider.com/
Research for the Digital Age
Welcome to BI Intelligence, Business Insider’s premium research service. Trusted by thousands of industry professionals, startups, digital agencies, investment firms, media conglomerates, and Fortune 1000 companies; we offer insight and research essential to your professional decision making and advancement.Whether you need information on mobile, digital media, e‑commerce, the Internet of Things (IoT), or payments; we have you covered with daily newsletters, in‑depth research reports, and corporate access solutions.
Below are the package options to access our exclusive insight and research.iPhone and Laptop
The Philippines’ fintech ecosystem is brimming with innovation with a vibrant mix of entrepreneurs attempting to fill in the gap within the financial system. Despite the strides that the country has made in this space, the Philippines’ narrative has often been overlooked by international media when examining financial innovations within South East Asia.
I was commissioned by Fintechnews Network to create this report, from research to layout.
For more service like this, reach me at LinkedIn@jocelyn18 or jocelyncy@gmail.com. Thanks!
Fintech is gaining popularity recently, a great number of Fintech startups are emerging nowadays. Fintech has huge potential in Indonesia as it provides solutions which are not offered by conventional banking institutions. New model of payment and investment option become more familiar through online financial service. Fintech in Indonesia does not spared from government regulation, to make sure financial products that startup's offered are not harmful toward society, OJK as the policy holder will soon pass a law to regulate the growing fintech startup in Indonesia. All information about fintech startup, available sectors, and forecast growth will be available in this report.
India FinTech report 2019 - Executive summaryMEDICI
India FinTech Report 2019 offers an in-depth look at what makes the Indian FinTech ecosystem vibrant by taking a deeper dive into Government, Regulatory, and Private sector initiatives.
Download the Executive Summary here: https://bit.ly/2ugRke5
Download the main report here: https://bit.ly/2EjGclm
Startupbootcamp FinTech India Trends Report 2017Kanish96
The FinTech ecosystem in India has evolved significantly since its emergence and has witnessed a shift from its traditionally competitive nature to a more collaborative one, where both startups and incumbents are looking for growth through partnerships.
PwC and Startupbootcamp are stationed at the heart of the FinTech ecosystem in India.
Startupbootcamp scouts for and supports promising, early-stage startups in the country, while
PwC advises a wide-range of corporate and institutional clients on leading FinTech issues. For its
first program in India, Startupbootcamp FinTech analysed more than 1000 startups from across
the world. Through ‘FastTrack events’ / roadshows in 18 cities, we were also able to gain valuable
insights that helped us better understand the FinTech landscape as it stands today. On the other
hand, PwC consults clients of all levels in BFSI - from large Financial Service Organisations to
FinTech companies. This combined vantage point provides a unique view of the emerging trends
in the FinTech space, particularly in India. This report aims to provide key insights into the
evolution of the FinTech sector in India by utilizing PwC’s intelligence and experience in this area
as well as insights from Startupbootcamp’s application data from its first program in India
The 10 best emerging fintech startups in 2018Merry D'souza
Fintech in India is a unique because it is young, growing rapidly, and is fuelled by a large market base. Insights Success "The 10 Best Emerging Fintech Startups in 2018", Our magazine journey begins with the Cover story; CASHe, which provide immediate short-term personal loans to young professionals based on their social profile, merit and earning potential using its proprietary algorithm-based machine learning platform.
The Future of Fintech in Southeast AsiaFinch Capital
Finch Capital worked together with MDI Ventures and Dealroom to map the local FinTech ecosystem in Southeast Asia. We are sharing local funding and M&A data as well as our thoughts on the developments that shape local growth of Fintech companies
Industry of Financial Technologies
This report on the Study of the Financial Technologies was submitted on May 3,
2016 as part of the Requirements in TM 206 Technology Marketing and
Commercialization
This Industry Study was conducted by
Alexis Dogwe
Camille Eusebio
Maurice Gonzales
Leslee May Tandoc
Al Marie Tating
under the supervision of Prof. Edison D. Cruz
Masters in Technology Management
Technology Management Center
University of the Philippines, Diliman,
Quezon City
The Future of Fintech in Southeast AsiaFinch Capital
Finch Capital worked together with MDI Ventures and Dealroom to map the local FinTech ecosystem in Southeast Asia. We are sharing local funding and M&A data as well as our thoughts on the developments that shape local growth of Fintech companies
Is the Finance Technology (FinTech) sector ready for breakout? Read Deloitte India’s detailed report that thoroughly examines the continuously evolving market and the key factors that are leading FinTech companies to success. However, the journey will not be easy for most companies due to the challenges mentioned in the report.
Is the Fintech ecosystem ready for breakout? Fintech is changing the way we do banking and finance, making it more intuitive and personalised. In this report, Deloitte India explains the growth of the Indian economy and the convergence of financial services and technology.
Fintech in India – Opportunities and ChallengesDr. C.VIJAI
Fintech is financial technology; Fintech provides alternative solutions for banking services and non-banking finance services. Fintech is an emerging concept in the financial industry.The main purpose of this paper accesses the opportunity and challenges in the fintech industry. It explains the evolution of the fintech industry and present financial technology (fintech) in the Indian finance sector. The fintech provide digitalization transaction and more secure for the user. The benefits of fintech services reducing operation costs and friendly user. The fintech services India fastest growing in the world. the finch services are going to change the habits and behavior of the Indian finance sector.
This 7-second Brain Wave Ritual Attracts Money To You.!nirahealhty
Discover the power of a simple 7-second brain wave ritual that can attract wealth and abundance into your life. By tapping into specific brain frequencies, this technique helps you manifest financial success effortlessly. Ready to transform your financial future? Try this powerful ritual and start attracting money today!
1.Wireless Communication System_Wireless communication is a broad term that i...JeyaPerumal1
Wireless communication involves the transmission of information over a distance without the help of wires, cables or any other forms of electrical conductors.
Wireless communication is a broad term that incorporates all procedures and forms of connecting and communicating between two or more devices using a wireless signal through wireless communication technologies and devices.
Features of Wireless Communication
The evolution of wireless technology has brought many advancements with its effective features.
The transmitted distance can be anywhere between a few meters (for example, a television's remote control) and thousands of kilometers (for example, radio communication).
Wireless communication can be used for cellular telephony, wireless access to the internet, wireless home networking, and so on.
Multi-cluster Kubernetes Networking- Patterns, Projects and GuidelinesSanjeev Rampal
Talk presented at Kubernetes Community Day, New York, May 2024.
Technical summary of Multi-Cluster Kubernetes Networking architectures with focus on 4 key topics.
1) Key patterns for Multi-cluster architectures
2) Architectural comparison of several OSS/ CNCF projects to address these patterns
3) Evolution trends for the APIs of these projects
4) Some design recommendations & guidelines for adopting/ deploying these solutions.
ER(Entity Relationship) Diagram for online shopping - TAEHimani415946
https://bit.ly/3KACoyV
The ER diagram for the project is the foundation for the building of the database of the project. The properties, datatypes, and attributes are defined by the ER diagram.
2. PREFACE
Fintech Report is DSResearch's annual report to provide updates on the financial
technology industry in Indonesia.
In this report, we focus on:
Fintech has evolved in significant ways and continuously become more mature at an accelerated pace
over the course of 2019. This year, the demand of fintech products had grown rapidly and achieved mass
adoption to people’s lifestyle. With big developments ranging from the rise of fintech products awareness
up to fintech’s impact on national GDP has become another big year for fintech.
Fintech Report 2019 is based on a nationwide survey encompassing responses from 1500 people in
nationwide. Questions sought to yield perspectives of usage and attitude in public acceptance towards
fintech products and also exploring the emergence of growth and trends in the financial industry. It sheds
light on the impact which fintech ecosystem will have on all the stakeholders, the challenges and concerns
that all sectors will face, and the emergence of new businesses and monetization models in this space.
This report is conducted by DSResearch and supported by BRI & BRI Ventures to gain more insights on
fintech’s overview in 2019.
The fintech industry dynamics and its ecosystem overview in 2019.
Industry perspectives towards fintech growth, trends, and regulations in 2019
Public acceptance of usage & attitude by fintech products.
Prospective strategy of fintech in upcoming years
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3. Bank Rakyat Indonesia (BRI) is one of the largest state-owned banks in Indonesia. It’s founded in
Purwokerto, Central Java, by Raden Bei Aria Wirjaatmadja on December 16, 1895. The strength
of BRI lies in serving the segment of micro and small medium enterprises.
BRI’s vision is to provide financial services to all Indonesians nationwide, including the remote
areas. To realize this, it needs to be supported by sufficient infrastructure, including network of
branches and branchless agent throughout the archipelago. As the market keep growing, along
with its commitment, BRI keeps innovating to provide the best services to its customers.
Getting through digital era, BRIAPI, a BRI’s product, serves to enable third parties to use Bank
BRI’s financial service functions or features into their platforms in a secure and safe manner.
With BRIAPI implementation, Bank BRI is the first bank with open API system in Indonesia that
has ISO 27001 and OJK certification. BRIAPI is expected to link Bank BRI and ever-growing startup
industry, in particular to extend digital collaboration in realizing a super ecosystem to accelerate
financial inclusion and to bring ease of access of financial services to society. With this, we
believe, “No one left behind!”
BRI Ventures is the Corporate Venture Capital arm from Bank BRI, the largest bank in Indonesia. It
is established to accelerate innovation and give support to Bank BRI by investing in high-growth
companies with strong digital ecosystem-enablement angle.
Supported by the network and reach of its holding company, BRI Ventures is uniquely positioned in
the market to help entrepreneurs get a strong local presence, by building its business with real
value creation, and eventually drive Indonesia’s digital economy.
4. 01 04
08
45 48
15
PREFACE
CONTENTS
PART 2
PART 4 CLOSING
REMARKS
PART 3
PART 1
INTRODUCTION
PUBLIC PERSPECTIVES
FINTECH ECOSYSTEM IN
INDONESIA
05
01
03
CONTENTS
PART 1
INDUSTRY PERSPECTIVES
PROSPECTIVE STRATEGY
GROWTH AND TREND
INDUSTRY DYNAMICS
REGULATIONS IN 2019
FINTECH FUNDING
FINTECH IN (NEAR) FUTURE
IMPACT ON ECONOMY
GROWTH
48
47
DEMOGRAPHY
BANKED AND UNBANKED SOCIETY
FINTECH'S PUBLIC PERCEPTION
FINTECH PRODUCTS' AWARENESS
AND USAGE
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18
19
21
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6. 05
Fintech Ecosystem in Indonesia
The financial technology (fintech) in Indonesia offers a broad variety of financial services, including
transaction settlement, capital raising, investment management, fundraising and distribution insur-
ance, market support, equity crowdfunding, and other financial support and service activities. This
year, the scene is still highlighted by lending and payment companies.
The OJK (Indonesia’s financial services authority) has listed more than 100 licensed fintech lending
companies as of early this year, and the number is expected to grow throughout the year.
OJK also maintains various services related to digital insurance, investment, and crowdfunding;
while payment and remittance are regulated by Bank Indonesia.
The e-money apps are currently super popular to facilitate many payment activities, from shopping,
entertainment, to transportation. The introduction of QRIS to unify mobile payment transaction in
2020 will play a bigger role to shift Indonesia to be a cashless society.
We have witnessed OVO, a leading payment company, to be the first unicorn startup coming from
fintech vertical. We expect some lending companies to follow in the near future.
In the bigger picture, 99 million unbanked people, according to the e-Conomy SEA 2019 by Google,
Temasek and Bain & Company, is a huge opportunity for digital financial services to help the govern-
ment in financial inclusion issue. The research also shows the projected growth in digital financial
services in the region.
2019
2025
SEA Consumer Payments (GTV, $B)
e-Wallets
Digital Payments
Consumer Payments
114B 1,100B 2,300B
22B
114B
600B 1.400B
1.100B 2.300B
Digital Remittance
(Flows, $B)
Digital Lending
(Loan Book, $B)
Digital Investments
(AUM, $B)
Digital Insurance
(GWP, $B)
Digital Remittance
(Flows, $B)
Digital Lending
(Loan Book, $B)
11B
23B 110B
10B 75B
2B 8B
28B
Digital Investments
(AUM, $B)
Digital Insurance
13%
3% 8%
3% 11%
4% 9%
28%
(GWP, $B) 2019 2025
source: e-Conomy SEA 2019
7. 06
Fintech is considered to be as a result of the massively developed information and communication
technology infrastructures in the country during the last decade. Currently only around 60 percent
of Indonesia’s adult population have conventional banking accounts, while around 130 million
Indonesians use mobile phones to access the Internet.
Fintech, especially lending, has been arguably the fastest growing sector in recent years. The Indonesian Finan-
cial Services Authority (OJK) recorded the total financing channeled by technology-based lending service
providers as US$951 million in the first three quarters of 2018, and projects the total loan figure to grow to
US$2 billion by the end of 2019. Among the startups that received massive investments in 2018, three belong
to this sector. These include FinAccel (Kredivo) with US$30 million in Series B funding, C88 with US$28 million
Series C round, and Moka with US$24 million in Series C funding.
Aside from P2P lending, digital payment services also hold promise in Indonesia. A study by MDI Ventures and
Mandiri Capital entitled “Mobile Payments in Indonesia: Race to Big Data Domination” predicts that the mobile
payment market will reach US$30 billion in total gross transaction value by 2020, and reach a compound
annual growth rate of 158% for the period between 2016 and 2020.
TYPE OF FINTECH
source: Indonesia Fintech Association (2017)
Total (US$15 Billion)
100%
Payment
32%
Lending
Others
16%
15%
Investment
Point of Sales (PoS) Crowd
funding
17%
11% 9%
This gap obviously encourages startup entrepreneurs to take advantage of those untapped opportunities.
Initially, the emerging fintech business was expected to be an initiative capable of harmonizing financial
inclusion in Indonesia through expanding access, reducing costs, and increasing efficiency. Slowly, fintech
appears and currently are considered to be commonly following this disruptive pattern. They come with
products and services that continuously improved and expanded beyond their scope.
There are some slightly different data, but both show the large amount of fintech transactions in Indonesia,
at around US$15 billion in 2017. Of that number, most of them are engaged in the payment sector, followed
by investment and lending.
8. 07
The main sectors exposed to this risk at the moment are financing and funding. It might not be surprising
if conventional banking will eventually only be a kind of ‘cashier’, while other products and services are
offered by fintech due to their flexibility and efficiency in operational activities.
In 2019, fintech is expected to remain at the forefront of Indonesia’s digital industry, with the potential of
collaborations with financial institutions. Fintech players will also need to form partnerships with
merchants of various sizes, from small and medium enterprises (SMEs) to big businesses, to facilitate
wider adoption. Insurance and wealth management also hold potential for fintech applications, as many
Indonesians currently do not have insurance coverage of any form.
Fintech ecosystem itself has been growing massively this year. OVO has emerged as the first unicorn
among fintech companies. Some other players, like Akulaku, Kredivo, and Modalku also have high valua-
tions at more than US$100 million. That indicates optimism and trust from investors about the potential of
the industry landscape. Signals of collaboration between players, traditional and digital, are becoming
apparent today — fintech acts to educate the market, unbankable society about various financial products.
In addition to OJK, Bank Indonesia is also being a key regulator in the ecosystem. It initiates QRIS (Quick-Re-
sponse Code Indonesia Standard) as a first step to create synergies among digital payment platforms. This
policy allows one access code to receive payments from various types of registered applications.
“Fintech is generally carried out by startup companies, although this is not
always the case. In addition, not infrequently large companies, including
conventional banking and financial services, also invest in existing fintech
businesses. Thus, while the technology provides the opportunity to
disrupt the market, we have to question the potential for fintech to really
fundamentally change the business and economic landscape.”
— Riemer et al., 2017