Past Events

From Digital Adoption to Financial Inclusion: The Way Forward for Indonesia

Join us for this hybrid event on 4 October 2022, 10:00 am - 12:00 pm (GMT+7) at Alila SCBD, Jakarta. This event is jointly hosted by the Centre for Strategic and International Studies (CSIS), and the Tech For Good Institute (TFGI), with the support of Indonesia Fintech Society (IFSoc).

Southeast Asia has witnessed a massive digital adoption spurt: more than one-in-three of current consumers are new to digital services and more than 90% of them intend to continue using such services. However, up to 60-70% of the population in Southeast Asia is still underbanked or remained underserved by traditional financial institutions. Digital financial services (DFS) providers can help to close this gap. DFS uptake can improve the delivery of both public and private services. In Indonesia, DFS offers an unprecedented growth opportunity to introduce unbanked and underbanked Indonesians into the formal financial system. A World Bank study found that a 1% increase in financial inclusion facilitates an annual GDP growth per capita of ~0.03%.

Frequently cited barriers affecting the uptake of DFS in the region include gaps in physical infrastructure, digital infrastructure and pervasive cash cultures. A consumer’s background – such as their levels of education, employment status and gender – also influences confident adoption and usage of DFS products.

The Centre for Strategic and International Studies (CSIS) and the Tech For Good Institute (TFGI), with the support of Indonesia fintech Society (IFSoc), are jointly hosting a research seminar where two recently published and new research pieces on the topic of financial inclusion and adoption will be presented to shed light on the insights drawn from consumers in Indonesia and across the region. The discussion amongst policymakers, industry and members of the local academia aims to understand the opportunity provided by digital financial services to financial inclusion taking into account the progress and status of current financial regulations in Indonesia.

Event Details

Time	Agenda
09:00am	Registration Opens / Arrival of Guests
10:00-10:10am	Opening Remarks Yose Rizal Damuri, Executive Director, Centre for Strategic and International Studies (CSIS) Rico Usthavia Frans, Steering Committee of Indonesia Fintech Society (IFSoc) Dr. Ming Tan, founding Executive Director, Tech for Good Institute (TFGI)
10:10-10:30am	Research Presentation (1) “Fintech Adoption in Greater Jakarta – Patterns, Constraints, and Enablers” Dr Astrid Meilasari-Sugiana, ISEAS-Yusof Ishak Institute
10:30 – 10:50am	Research Presentation (2) “Digital Financial Services (DFS) in SE Asia: A Catalyst for Financial Inclusion” Melissa Tan, Research Fellow, TFGI
10:50 – 11:00am	Break
11:00 – 11:30am	Panel Discussion: From Digital Adoption to Financial Inclusion: The Way Forward For Indonesia Edwin Nurhadi, Director of Financial Inclusion Development at The Financial Services Authority (OJK) Karaniya Dharmasaputra, Steering Committee of Indonesia Fintech Society (IFSoc) Raymond Atje, Senior Researcher at CSIS Moderator: Dr Ming Tan, founding Executive Director, TFGI
11:30 – 11.55am	Q&A
11.55-12:00pm	Closing remarks Yose Rizal Damuri, Executive Director, Centre for Strategic and International Studies (CSIS)
12:00pm	End of event