Indonesia regulator expects fintech firms to double to 250 by year-end

Indonesia – the largest economy in the south east Asian region – is betting on the great big fintech opportunity riding on its demographics and unbanked population. Indonesia, which has already seen the emergence of 130 fintech companies, is expecting this number to double in a year with $3.6 billion worth of transactions on this model over the next one year, deputy director of OJK, the financial services regulator, Pak Tuahta Aloysius Saraguh, said in an interaction. Pak Aloysius has been instrumental in encouraging the Fintech industry in Indonesia.