What’s Next for FSI Indonesia: Insights Ahead of World Financial Innovation Series (WFIS) 2025

The World Financial Innovation Series (WFIS) on 25-26 NOV 2025 in Sheraton Grand Jakarta, Gandaria will focus on Indonesia’s financial services evolution and latest trends, specifically in digital transformation, automation, and cybersecurity. As the financial services industry of Indonesia undergoes significant transformation, driven by increasing consumer demand for real-time, mobile-first financial services and a growing preference for embedded digital experiences, events like WFIS are becoming increasingly crucial.

The renowned finance conference will explore various industry trends like digital banking, RegTech, financial inclusion and more, offering actionable strategies and real-world use cases for industry professionals. The Indonesian government’s support for digital payment ecosystems, combined with regulatory frameworks like BI-FAST and open banking initiatives, continues to attract domestic and global technology providers into the sector.

Financial Services Industry Indonesia – Overview

The financial services industry in Indonesia is experiencing significant growth and transformation, driven by various factors including a burgeoning middle class, increasing urbanization, and the rapid adoption of digital technologies. Here is a comprehensive overview of the industry:

Regulatory Framework

In Indonesia there are primarily two independent government bodies that regulate the provisions of financial products and services, namely:

• Bank Indonesia (BI): BI is responsible for overseeing macroprudential supervision and regulates monetary policy, payment systems, and foreign exchange activities.
• Financial Services Authority (OJK): Established in 2011 OJK is responsible for regulating and supervising the financial services sector, including banking, capital markets, and non-bank financial institutions.

The OJK’s regulatory framework is based on various laws and regulations, including the OJK Law (Law No. 21 of 2011) and specific regulations tailored to different sectors such as banking, capital markets, insurance, and microfinance.

Market Potential and Challenges

Market Potential 

• Growing middle class driving demand for financial services.
• Increasing urbanization boosting financial service needs.
• Rapid digital technology adoption fostering innovation.
• Significant Foreign Direct Investment (FDI) in the finance sector.
• Supportive regulatory environment encouraging fintech growth.
• Strategic partnerships enhancing service delivery.
• Large market size with substantial growth projections. 

Challenges

• Increasing regulatory complexity.
• Growing risk considerations require robust management.
• Disruptive technologies necessitating continuous adaptation.
• Shrinking margins due to competition.
• Rising operational and compliance costs.
• Financial inclusion gaps with many unbanked or underbanked.
• Infrastructure gaps limiting service access in remote areas.
• Structural risks from government bonds and SOE loans.
• Climate-related risks and natural disaster vulnerabilities.

Investment and Economic Impact

During the pandemic, Indonesia saw the addition of nine unicorns in digitally adapted industries, including fintech, e-commerce, F&B, and logistics. Foreign Direct Investment (FDI) in Indonesia increased by 8% to USD 20 billion in 2021, with significant contributions from Southeast Asia and other Asian economies. FDI in the finance sector accounted for approximately 9.5% of total FDIs, amounting to USD 1.9 billion.

Future Outlook

The Indonesia Financial Technology Services Market is expected to reach USD 20.93 billion in 2025 and grow at a CAGR of 9.31% to reach USD 32.67 billion by 2030. Major companies operating in this market include PT Ajaib Teknologi Indonesia, PT Investree Radhika Jaya, Grab Holdings Limited, PT GoTo Gojek Tokopedia Tbk, and PT Akulalu Silvrr Indonesia.

Digital Transformation in Banking and Finance

Digital transformation is no longer optional for banks in Indonesia. In 2023 alone, over 60 percent of major banking institutions reported increased investments in core banking system upgrades and cloud migration to streamline operations and improve customer experience. AI-driven credit scoring, biometric-based KYC, and mobile-centric banking applications are becoming standard tools in digital banking Indonesia.

The integration of BI-FAST, a national payment infrastructure introduced by Bank Indonesia, has facilitated faster, safer, and lower-cost digital transactions. Over 100 financial institutions have adopted BI-FAST since its rollout. This infrastructure supports the national goal of accelerating digital financial inclusion by enabling interoperability among financial service providers.

Another key development has been the growing adoption of open banking APIs, allowing third-party developers to build applications around banks’ data and services. This approach supports personalization, smoother onboarding processes, and faster innovation. As digital banking Indonesia evolves, the trend is shifting from offering standalone banking products to embedding financial services into broader digital ecosystems such as e-commerce, transportation, and healthcare.

Key Themes and Topics at WFIS 2025 – Indonesia

WFIS 2025 is expected to address critical areas impacting BFSI Indonesia. Some of the main themes include:

• Cybersecurity and Data Protection: As more financial transactions go digital, institutions must manage the growing threat of fraud, cyberattacks, and data breaches. Topics around endpoint security, identity verification, and regulatory compliance are expected to take center stage.
• Next-Gen Banking Infrastructure: Sessions on modernizing core banking systems, cloud-native deployments, and integrating AI and machine learning will be of significant interest to attendees.
• Open Finance and Embedded Banking: Speakers and panelists will likely explore use cases for embedded financial services and how fintech Indonesia can collaborate with traditional banks to extend reach and innovation.
• Sustainable Finance and ESG Goals: The increasing relevance of green bonds, ESG disclosures, and climate-friendly investment frameworks for the Indonesian financial ecosystem will be another key discussion point.

Opportunities for Fintech and Digital Banking in Indonesia

Fintech and digital banking in Indonesia continue to gain momentum, creating room for innovative, accessible, and affordable financial services. Key opportunity areas include:

• Microloans and peer-to-peer lending platforms
• Digital-only banking for underserved populations
• Blockchain-based remittances 
• Integrated payment systems using QRIS
• AI-driven personal finance tools and credit scoring

How WFIS 2025 Can Shape the Future of BFSI Indonesia

WFIS 2025 provides a platform where policymakers, financial executives, technology experts, and innovators can align their goals and strategies. The event helps accelerate technology adoption in BFSI Indonesia by showcasing successful implementations and emerging trends from both domestic and international markets.

Knowledge sessions and panel discussions will focus on how to scale digital products while complying with evolving data privacy and security regulations. By sharing best practices and real-world applications, the conference can help financial institutions identify high-impact areas for investment and collaboration.

For fintech Indonesia, the event is also an opportunity to explore partnerships with traditional players and understand changing consumer behaviors. With a significant portion of the population moving toward digital wallets, e-KYC, and mobile credit, understanding market demands will be essential for product development and scaling strategies.

WFIS 2025 is also anticipated to shed light on the practical implications of upcoming regulations, such as those involving crypto assets, digital identity frameworks, and cross-border financial data sharing agreements. These insights can support long-term planning and innovation roadmaps.

Attending WFIS 2025: What You Need to Know

Event Name: World Financial Innovation Series (WFIS) 2025

Location: Sheraton Grand Jakarta, Gandaria, Indonesia

Dates: 25-26 NOV 2025

Who Should Participate:

• Banking and Financial Services Executives
• Fintech Startups and Innovators
• Technology Solution Providers
• Government and Regulatory Authorities
• Investors and Venture Capitalists
• Cybersecurity and Compliance Experts

Key Highlights:

• 2 Days of Insightful Sessions
• 40+ Expert Speakers
• 600+ Pre-Qualified Delegates
• 200+ Leading Organisations
• 30+ Solution Providers
• Innovation Showcases and Live Demos
• Interactive Discussions
• Networking and Business Matchmaking
• Access to Regulatory and Market Insights

Topics Covered:

• Digital Banking and Transformation Strategies
• Open Finance and Embedded Solutions
• Cybersecurity and Risk Management
• Regulatory Compliance and Data Protection
• Fintech Growth and Investment Opportunities

Registration:

• Online Pre-Registration Required
• Limited Seats for In-Person Participation
• Early Registration Recommended for Priority Access

Access:

• Conference Entry
• Speaker Sessions and Panel Talks
• Exhibition and Demo Zones
• Networking Lounges and Breakout Rooms

Conclusion

FSI Indonesia is moving toward a more digitally integrated, inclusive, and innovation-driven future. As digital banking Indonesia gains traction, and fintech Indonesia continues to attract investments and partnerships, events like WFIS 2025 will be essential in shaping the next chapter of transformation. By bringing together key players across the public and private sectors, the conference will act as a catalyst for discussions, collaborations, and decisions that define the trajectory of BFSI Indonesia in the years to come.