As part of the Indonesia’s strategy to improve the competitiveness of their Micro, Small and Medium Enterprises (MSME), the government developing a National Strategy for the Digital Economy with the Indonesian FinTech Association (AFTECH). The AFTECH is an association for FinTech industry players in Indonesia.
We would expect to see the collaboration to focus on creating and expanding the education curriculum related to the digital financial services industry and technology, with the main aim to restore the Indonesia economy, increase financial inclusion, increase the and improve people’s welfare.
It is estimated that Indonesia has great digital economic potential due to a large population (270.20 million people), high number of smartphone ownership (estimated to reach 81.87 million users in 2020) and sufficiently high internet penetration (53.7%). With this, AFTECH would work with the Indonesia government to support the digitalisation of their MSMEs through innovations in digital payments, online loans, aggregators, credit scoring, financial planning, insurance technology, online KYC and project financing.
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