Overview

Indonesia’s financial technology (“Fintech”)[1] sector has posted impressively rapid growth over the last few years. Indeed, Bank Indonesia (“BI”) estimates that transactions involving Fintech may reach USD 18.7 billion or IDR 249 trillion this year, which represents a 24% increase over last year's figures.[2] It is this rapid growth that has prompted PricewaterhouseCoopers (PwC) to conclude that Indonesia’s payment systems and fund transfers will be seriously disrupted by Fintech over the course of the next five years.[3]