Indonesia’s tech start-ups have been catching the eye of investors, having raised close to USD 3 billion in funding for 2017 to September 13, a substantial increase on the USD 631 million received last year. Rising digital technology penetration and increasing demand for new financial solutions will not only drive rapid expansion of Indonesia’s financial technology (fintech) segment but also digital banking penetration. Enhanced infrastructure links, combined with the expectation of further smartphone and internet uptake, and an expanding young and affluent customer base, will drive digital retail banking penetration to 60% by 2020, according to a white paper by corporate consultancy Solidiance.


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