Strategy for Building an Inclusive Financial Ecosystem in Indonesia
Access to financial services in Indonesia is showing a positive trend with increasingly broad reach. However, a major challenge remains: the wide gap between public access (inclusion) and understanding (literacy) of financial products themselves. Based on the latest data, although inclusion figures have reached a significant level, the financial technology (fintech) sector still records low literacy rates. This condition signals that building a financial ecosystem cannot rely solely on expanding access, but must be accompanied by education and capable infrastructure.
This crucial issue was the main topic of discussion in a panel titled ‘Infrastructure, Investment, Impact: Building Inclusive Financial Ecosystems’ at The 2026 Asia Grassroots Forum. The discussion, moderated by Eddi Danusaputro of BNI Ventures/AMVESINDO, presented perspectives from regulators, a former minister, and digital industry players.
Deputy Minister for Women’s Empowerment and Child Protection, Veronica Tan, asserted that women are the main pillar of the grassroots economy. She emphasised that women should not merely be objects or beneficiaries, but active subjects in economic strategy. ‘Women’s empowerment must be integrated into the broader development agenda, from land access to sustainable financing. Our ministry has the Women’s Food Garden programme to strengthen food security while boosting their economic confidence,’ Veronica stated.
Former Minister of Tourism and Creative Economy, Sandiaga Uno, highlighted three urgent needs for grassroots entrepreneurs to advance: education, market access, and appropriate financing. According to him, market access is often more pressing than initial capital to ensure consistent absorption of MSME products.
Echoing this sentiment, Amartha’s President Commissioner, Rudiantara, warned that inclusion without literacy and financial health could backfire. ‘People need to manage money wisely, not just own a bank account. At Amartha, we deploy 9,000 field officers for direct mentoring, especially for women in rural areas outside Java,’ explained the former Minister of Communication and Information Technology.
From a technical perspective, President Director of Superbank, Tigor M. Siahaan, stressed the importance of simple product design. He cited the ‘Celengan’ (piggy bank) feature, which allows people to start saving from as little as IDR 10,000 as a first step in building assets.
However, all these digital innovations are impossible to realise without equitable connectivity. Yessie D. Yosetya, Director and CITO of PT XLSMART Telecom Sejahtera Tbk, highlighted infrastructure challenges in the frontier, outermost, and least developed (3T) regions. ‘Connectivity is the foundation. We must ensure the internet is available and drives productivity, not just entertainment consumption,’ she asserted.
According to the 2025 National Financial Literacy and Inclusion Survey (SNLIK) released by the Financial Services Authority (OJK) and Statistics Indonesia (BPS), the national financial literacy index stood at 66.46 percent, while the financial inclusion index reached 80.51 percent. The increase in access to financial services must be accompanied by strengthened inclusive and sustainable financial literacy. Consumptive behaviour is particularly prevalent among Generation Z, students, and university students who lack proper financial planning. Financial planner Aliyah Natasya stressed the importance of equipping children with financial literacy from an early age as a long-term family investment. A 2026 Sun Life Indonesia study revealed that 80 percent of the public feels pressured by the rising cost of living, making financial literacy and artificial intelligence key to facing economic uncertainty.