AFTECH: Digital Finance Transformation Can Drive More Inclusive National Economy

Indonesia’s financial services sector is entering a new phase of transformation that could strengthen its contribution to national economic growth. The universal banking concept introduced by the Financial Services Authority (OJK) is seen as opening opportunities for increased efficiency, service diversification, and enhanced industry competitiveness in supporting economic activity and the real sector. Amid this potential, the implementation of universal banking demands strengthened governance, risk management, technological capacity, cyber resilience, and data and consumer protection, particularly within the fintech and digital financial services ecosystem. The universal banking concept marks a shift in the financial services industry from expansion to consolidation, from growth to sustainability, and from fragmentation to integration. This transformation is expected to strengthen synergy between banks and digital financial service providers in supporting national economic financing. Pandu Sjahrir, Chairperson of the Indonesian Fintech Association (AFTECH), stated that Indonesia has a significant opportunity to strengthen its position in the digital finance sector at both regional and global levels. ‘In the global and regional context, Indonesia’s position is increasingly strategic. The financial industry, especially the digital financial services ecosystem, has a real opportunity to become a rule-shaper, not just a market. Indonesia’s digital financial services ecosystem has the potential to help shape regional standards and direction, including in terms of innovation and technology standards, particularly for digital business models in the payment, lending, and investment clusters,’ Pandu said in an official statement in Jakarta on Monday. In line with these developments, AFTECH will organise the Indonesia Digital Bank Summit (IDBS) 2026. With the theme ‘Beyond Banking: Redesigning Finance for Wellbeing and Growth in the Real Economy’, the forum will bring together more than 300 leaders from the banking, fintech, real sector, academic, regulatory, government, and international partner communities. The forum aims to contribute to the future policy direction of the financial services sector while strengthening collaboration among industry players to support more inclusive and sustainable economic growth. ‘The dynamics within the financial services sector and the introduction of the universal banking concept have prompted AFTECH to make this the main theme of this year’s IDBS. We see that the future architecture of the financial services sector will undergo a transformation, particularly becoming more focused on the consumer journey, including being more actively involved in creating financial well-being for the public and more optimal in carrying out services that support the productivity of priority real sectors,’ Pandu said.