LPS Chief: Technological Development Must Not Outpace Literacy

The Chairperson of the Board of Commissioners of the Deposit Insurance Corporation (LPS), Anggito Abimanyu, opened the Jogjakarta Financial Festival at the Jogja Expo Centre (JEC) on Friday 21 May 2026. He emphasised that financial education must not be exclusive and should be delivered on a mass scale.

Moreover, according to Anggito, there is currently a worrying phenomenon where young people are opening investment accounts but are not yet able to draw up a financial plan. Meanwhile, the public is increasingly active in digital transactions, but many accounts remain dormant.

In addition, many people are still falling prey to online lending and online gambling that are heavily technology-driven.

“We must not allow technology to grow faster than the ethics of literacy and financial responsibility towards the nation. However, we must remain optimistic,” Anggito said.

He also reminded that technological development is also fuelling a rise in financial crime, and fraudulent investments that exploit low public understanding are increasing. Anggito stressed that this is where comprehensive literacy is important, especially given the large productive-age population.

“Indonesia has 190 million people of productive age. This is the largest demographic dividend in the history of the Republic of Indonesia. Indonesia’s youth are the most digital, most connected and most creative generation we have ever had,” he said.

Anggito emphasised that the younger generation should not only be consumers of financial technology but should become productive investors, new entrepreneurs, and even creators of innovation.

“Retail investment growth in Indonesia has continued to rise year on year with a growing dominance of the young, university students and pupils. This is a positive signal. But optimism without literacy can turn into speculation,” he said.

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