According to Microsoft founder Bill Gates, the COVID-19 pandemic has provided an opportunity for many governments to accelerate financial inclusion through the adoption of digital services. The aim is to encourage economic growth, accelerate poverty reduction, and equitable development.
President Joko Widodo targets a financial inclusion index of 90 percent by 2024. While the results of the OJK survey in 2019, the financial inclusion index has reached 76.2 percent and the financial literacy index 38.03 percent.
However, spurring financial inclusion through digital services faces several challenges: digital infrastructure, low human resource capabilities, inequality in access to digital infrastructure to the risk of cyber attacks.
How can the government and industry optimize digital financial services? Can fintech in Indonesia grow as big as in China and America to support the national economy and financial inclusion?
This session featured Avina Sugiarto, Partner of East Ventures, and Benedicto Haryono, CEO & Co-Founder of Koinworks.