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The push for wider access to financial services has reshaped Indonesia’s economic journey in recent years. A stronger banking network, expanding digital platforms, and new regulatory measures have turned financial inclusion into a measurable outcome rather than just an ambition. Reports show the country has lifted inclusion rates from less than half of the population a decade ago to well above 70 percent by 2024, yet millions remain outside the formal system. This gap highlights both progress and challenges for the Financial Services Industry (FSI). It is in this setting that WFIS Indonesia becomes central, bringing decision-makers, regulators, and innovators together to create actionable solutions that move financial inclusion from promise to practice.

Current Developments in the Financial Sector

Indonesia has seen sharp gains in bringing people into formal financial services. The financial inclusion index hit around 75 percent in mid-2024. SNLIK 2024 found the index at 75.02 percent, with financial literacy at 65.43 percent. In 2023, experts estimate inclusion climbed to about 84 percent, from 49 percent in 2014, a leap worth adding the population of Switzerland seven times over to the banking system.

Still, Indonesia had about 98 million unbanked adults, the fourth-highest total globally as of 2021. That shows how far we’ve come, and how far we can go.

Role of Financial Institutions

Banks, insurers, and micro-finance firms act as the foundation. The Financial Services Authority (OJK) guides them and protects consumers. A newer law passed in late 2022, Law No. 4 of 2023, further empowers OJK and supports financial sector development.

These institutions shape products that matter to everyday people. Microfinance units use mobile tools to reach low-income groups. By 2025, digital tools helped microfinance firms reach over 50 million people and support more than 60,000 branches nationwide. That’s real reach.

Importance of Technology in Financial Services

Fintech plays a big part. Alternative credit scoring using telecom, shopping, or social data helps people get access even without formal credit histories.

The rise of AI and digital tools has helped lift financial inclusion from under 50 percent to over 80 percent in less than a decade. Mobile phones and online platforms have enabled banking for millions who lacked traditional access.

Fintech lending also recovered after early COVID-19 shocks, showing resilience and promise for continued inclusion. Financial education plus tech can boost inclusion among students too, even small gains in literacy lead to wider use of services .

Government and Regulatory Support

The government drives progress. Indonesia’s 2016 national financial inclusion strategy laid out clear goals and targets . That strategy defines priority groups: low-income families, small businesses, women, rural people, students and more.

In 2024, OJK and Statistics Indonesia shared the SNLIK survey, giving updated data and helping design better policies. The G20 financial inclusion priority under Indonesia’s presidency also focuses on digital inclusion and SME finance.

International support helps too. The Asian Development Bank approved a $500 million loan to boost access to finance in Indonesia.

WFIS Indonesia Event

World Financial Innovation Series (WFIS Indonesia) is a key fintech conference Indonesia and financial services conference Asia draws. The event gathers plus-600 FSI experts, decision-makers, government bodies, and innovators to explore financial inclusion and sector growth.

The 2025 edition will happen 25-26 November at Sheraton Grand, Jakarta. It spans digital transformation, cybersecurity, e-KYC, and core modernization.

WFIS Indonesia makes room for financial inclusion Indonesia to be a major discussion thread. Participants can gain ideas to expand access. It serves as a fintech conference Indonesia and financial services conference Asia in one.

Opportunities Ahead for the Financial Sector

Many paths lie ahead:

• Target underserved groups: Urban vs rural, youth vs elderly, women vs men. In 2024, rural inclusion was 70 percent vs 78 percent in cities.
• Boost financial literacy: Literacy at 65 percent leaves room for growth. Better literacy drives higher inclusion.
• Expand digital identity tools: E-KYC can help remote access.
• Use alternative data and AI: Credit scores need innovation to serve the unbanked.
• Strengthen regulation: OJK’s new powers and existing strategy can keep pace with fintech.
• Support SMEs: Many small firms still cannot access credit or payments tools.
• Foster partnerships: Banks, tech firms, government, NGOs can work together, like BNIs midwife banking agents model for women, which led to digital savings tied to maternal clinics.

Indonesia World Finance Innovation Series

As part of this drive, Indonesia WorldFIS stands at the core of innovation and inclusion. We bring together financial leaders from banking, insurance, fintech, micro-finance, regulators, and technology experts. Our work covers:

• Over 600 experts at each event.
• Deep dives into digital banking, microfinance, insurance, and cybersecurity.
• Highlights on financial inclusion Indonesia, fintech conference Indonesia, and financial services conference Asia.

We offer:

• Network access to industry heads and government figures.
• Insights on what works, from mobile tools to credit scoring.
• Alignment with OJK’s compliance and Indonesia’s financial inclusion law.

Why choose us?

• We host the region’s premier fintech conference Indonesia.
• We foster growth in financial inclusion Indonesia.
• We are a trusted financial services conference Asia platform.
• We deliver actionable insights and working models, not just ideas.
• Our event follows all national guidelines and works with regulators like OJK to ensure safe and legal innovation.

Conclusion

Financial inclusion is no longer a distant goal. It can be a reality. The FSI sector, backed by regulation, tech, and forums like WFIS Indonesia, is moving the needle. Together, we can bring in those who remain outside. Indonesia WorldFIS is your partner in that journey.