Financial Services

The role of cash is declining in Indonesia, due in large part to the significant growth of online payment choices. This comes as the Covid-19 pandemic has encouraged more people around the world to opt for cashless transactions to limit the spread of the virus, a trend that may continue to boost cashless transactions in Indonesia and other...

Indonesia’s banking sector is large and crowded, with more than 1600 licensed commercial and rural banks. However, there remains plenty of untapped potential, given that the country has the fourth-largest-unbanked population worldwide. Indonesia is behind only China, India and Pakistan in terms of the number of people yet to access formal...

Consolidation is one of the biggest ongoing issues in Indonesia’s banking sector, representing a challenge for the authorities but also an opportunity for investors. The hundreds of financial sector licensees across the archipelago amount to a huge supervisory obligation for the country’s two regulators: Bank Indonesia, the country’s central...