Indonesia’s ambition to become one of the world’s five largest economies by 2045 depends not only on industrial growth, infrastructure and investment, but also on how effectively capital reaches businesses and households. A deeper financial system can improve access to funding, support productive investment and connect more people with formal financial services.
The scale of this transition is already visible through expanding digital payments, capital-market reforms and new frameworks for financial technology in the archipelago. For executives, regulators and investors, digital transformation is closely connected with the country’s broader economic strategy. OJK thus officially launched the Indonesia Capital Market Roadmap 2023-2027 to support the country’s ambition of becoming the fifth largest economy globally by 2045.
Financial Modernization as a Pillar of Golden Indonesia 2045
Financial modernization is a core engine of the Golden Indonesia 2045 Vision. The objective is to build a more diversified financial system capable of supporting investment, entrepreneurship, infrastructure and household prosperity.
1. Structural Targets & Sector Deepening
Indonesia is broadening financial-market depth through the Financial Sector Development and Strengthening Law (UU P2SK) and related regulatory roadmaps. OJK’s capital-market roadmap focuses on market deepening, sustainable finance, investor protection and stronger digital financial services.
Long-term targets include increasing the role of insurance and pension assets in the economy while expanding banking intermediation. These measures matter because deeper domestic pools of capital can provide longer-term funding for infrastructure, industrial capacity and private-sector expansion.
2. Massive Financial Inclusion & Literacy
Financial inclusion is now a measurable national-development priority. Under its National Long-Term Development Plan (RPJPN) 2025–2045, Indonesia targets 98% financial inclusion — with the 2026 National Financial Literacy and Inclusion Survey being used to establish the current position against that objective.
For the BFSI ecosystem in the country, inclusion increasingly means reaching MSMEs, informal workers, rural communities and younger consumers with suitable savings, payments, insurance and financing products. Better data and alternative credit assessment can also help viable small businesses access formal finance.
3. Digital Infrastructure & Cross-Border Interoperability
Bank Indonesia’s payment-system strategy is expanding the infrastructure required for a more connected economy. QRIS Cross-Border is also connected with Thailand, Malaysia, Singapore, Japan, South Korea and China, supporting tourism, trade and MSME payments. These developments create practical foundations for greater regional economic integration.
4. Sustainable & Green Financing
Financial modernization must also support Indonesia’s transition towards lower-carbon economic activity. This requires financial institutions and capital markets to direct funding towards renewable energy, sustainable infrastructure and transition projects while maintaining appropriate risk controls.
Inclusion Can Expand the Productive Capacity of the Economy
Inclusion has an economic function beyond account ownership. When households can save securely, access formal credit and make digital payments, financial participation can support consumption, entrepreneurship and investment.
For MSMEs, improved financial data can make cash flows more visible to lenders and reduce dependence on informal borrowing. The challenge for fintech policy makers is to expand access while maintaining consumer protection, responsible lending and operational safeguards.
Deepening Capital Markets to Mobilize Long-Term Investment
A larger economy requires financing channels beyond traditional bank credit. Stronger equity, bond, pension, insurance and investment markets can provide longer-duration capital for infrastructure and corporate expansion.
OJK’s 2023–2027 Capital Market Roadmap places market deepening, sustainable finance, investor protection and digital financial services among its central priorities. For institutional investors and financial executives, this creates opportunities to develop products that match Indonesia’s long-term financing requirements.
Policy, Technology and Regulation Must Move Together
Technology can expand access rapidly, but regulation determines whether that expansion remains trusted and sustainable. OJK’s 2024–2028 IAKD roadmap covers technology innovation, digital financial assets and crypto assets through four pillars:
- Regulation & development
- Supervision & enforcement
- Licensing & information
- Innovation
Meanwhile, Bank Indonesia is continuing implementation of its Payment System Blueprint 2030 (BSPI 2030) and expanding cross-border payment connectivity. Coordination across regulators, banks, insurers, fintech firms and technology providers will therefore remain important.
Turning Financial Sector Reform Into Measurable Economic Outcomes
The success of reform should ultimately be visible in measurable outcomes: higher productive lending, broader investment participation, improved MSME financing, stronger retirement savings, wider insurance coverage and more efficient payments.
Indonesia’s financial sector entered 2026 with banking capital and asset quality indicators remaining strong; Bank Indonesia reported a 23.97% capital adequacy ratio and 2.17% gross NPL ratio for April 2026. Sustaining these conditions while expanding access will be important as financial intermediation grows.
Shape the Financial Architecture Behind Indonesia’s 2045 Ambition at WFIS Indonesia 2026
The World Financial Innovation Series (WFIS) in Indonesia will take place on 27–28 October 2026 at Raffles Jakarta. The event brings together 600+ pre-qualified delegates, 200+ organisations, 40+ industry speakers and 30+ solution providers from across Indonesia’s banking, financial services and technology ecosystem. The conference will provide an essential platform for banking leaders, regulators, policymakers, technology experts and financial institutions to discuss the key developments shaping Indonesia’s financial sector.
Sessions will explore a vast range of topics such as digital banking, financial inclusion, cloud infrastructure, AI, cybersecurity, real-time payments, regulatory technology and the modernisation of banking infrastructure — key issues impacting Indonesia’s path towards a more inclusive, modern and resilient financial system.
For more information about the summit, visit https://www.indonesia.worldfis.com/
Frequently Asked Questions (FAQs)
1. Why is financial modernization important for Indonesia’s 2045 vision?
It can broaden access to capital, strengthen investment channels, improve financial inclusion and support productive economic activity required for long-term growth.
2. What role does digital finance play in Indonesia’s economic development?
Digital payments and financial technologies can reduce transaction barriers, expand access to services and connect underserved consumers and businesses with formal financial ecosystems.
3. How is Indonesia strengthening financial technology regulation?
OJK’s 2024–2028 IAKD roadmap establishes measures covering regulation, supervision, licensing, innovation, consumer protection and the development of digital financial assets.
4. Why are capital markets important for Golden Indonesia 2045?
Capital markets can provide long-term funding for businesses and infrastructure while creating additional investment channels beyond conventional bank financing.
5. What is WFIS Indonesia 2026 focused on?
The event focuses on financial inclusion and brings financial institutions, regulators, technology providers, policymakers and senior executives together on 27–28 October 2026 in Jakarta.