Indonesia’s Multifinance Companies: The Next Financial Ecosystem

Indonesia’s financial services sector is in the throes of transformation, driven by rapid digitalisation as consumers gravitate towards internet/mobile banking and offerings customized to their daily needs. Technology companies, typically e-commerce players and fintechs, have joined the fray. As challenges now emerge in terms of access to capital and scale for some of these players, multifinance companies could become key actors in plugging those gaps. Conversely, in aligning with technology companies, these companies have an opportunity to participate in the ongoing transformation of the financial system.