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.
Registration Opens / Arrival of Guests
Research Presentation (1)
“Fintech Adoption in Greater Jakarta – Patterns, Constraints, and Enablers”
10:30 – 10:50am
Research Presentation (2)
“Digital Financial Services (DFS) in SE Asia: A Catalyst for Financial Inclusion”
10:50 – 11:00am
11:00 – 11:30am
Panel Discussion: From Digital Adoption to Financial Inclusion: The Way Forward For Indonesia
11:30 – 11.55am
End of event
Sign up HERE.