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Indonesia Fintech Summit & Expo 2024: Promoting Inclusion And Awareness Of Digital Finance For Indonesia's Future
Wednesday, 20 Nov 2024
The Indonesia Fintech Summit & Expo 2024 (IFSE 2024) has officially commenced, marking the beginning of the National Fintech Month (BFN) 2024, which will take place from November 11 to December 12, 2024. This event, organized by the Indonesian Fintech Association (AFTECH) in collaboration with the Financial Services Authority (OJK), the Indonesian Sharia Fintech Association (AFSI), and the Indonesian Peer-to-Peer Lending Association (AFPI), aims to enhance digital financial inclusion and literacy in Indonesia, where current digital financial literacy stands at 65.43% according to the National Financial Literacy and Inclusion Survey conducted by OJK.
Through IFSE 2024, the public is encouraged to utilize secure digital financial platforms and to avoid the risks associated with fraudulent investments and illegal online loans.
In the Opening Report of the 6th IFSE, AFTECH Chairman Pandu Sjahrir stated, "IFSE 2024 represents a pivotal moment for Indonesia's digital financial ecosystem to bolster financial literacy and inclusion."
"By increasing understanding and the use of secure digital platforms, we can ensure that the Indonesian populace is prepared to tackle the evolving challenges of the digital economy," he remarked.
This address serves as a prelude to a variety of discussions and innovations planned throughout the event. Meanwhile, in his keynote speech, Mahendra Siregar, Chairman of the Board of Commissioners of the Financial Services Authority, elaborated that innovation-driven development, grounded in digital finance and technology, represents the future of Indonesia's financial sector, which greatly benefits from being under the regulation and supervision of the OJK.
We operate within a unified framework, encompassing a single organization, regulatory bodies, policymakers, and oversight mechanisms that are consistently grounded in the principles of risk management, good governance, and compliance. These principles form the foundation for policy formulation and supervision that effectively address and comprehensively consider the interests of the public. This approach distinguishes the future development of fintech in Indonesia from that of other regions, as stated by Mahendra.
During the keynote session on the first day (November 12), Friderica Widyasari Dewi, the Executive Head of the Financial Services Authority's Behavioral Supervision, Education, and Consumer Protection, emphasized the significance of digital financial literacy in promoting broader access to financial services for the community.
In her speech titled “From Knowledge to Access: How Digital Financial Literacy Fuels Financial Inclusion in Indonesia,” Friderica highlighted the essential role of financial literacy as the cornerstone of financial inclusion in Indonesia.
