How Many Digital Financial Service Agents Are There in Indonesia?

The number of agents providing Digital Financial Services (DFS) has shown growth over five years. Based on data from Bank Indonesia (BI), the number of DFS agents in August 2019 reached 407,000 units, compared to only 69,000 units at the end of 2015. Similarly, the number of DFS agents per 100,000 people increased to 206 units from 37 units previously.

To improve financial services for the public, the government is promoting inclusive finance policies. These policies are aimed at lower-income groups to utilize formal financial products and services. The large number of Indonesians who still lack access to banking services presents an opportunity for digital financial service providers in the country.

(Read Databoks: 2017, Indonesia's Digital Payments Reach Rp 247 Trillion)

Based on research by Google, Temasek, and Bain & Company, out of 181 million adult Indonesians, only 42 million (23.2%) have accounts with financial institutions/banks and have access to credit, investment, or insurance. 47 million (25.97%) have accounts with financial institutions but lack access to credit, investment, or insurance. Meanwhile, 92 million (50.83%) of the adult population have no access to financial institution services.

(Read Databoks: Only Half of Adult Indonesians Have Bank Accounts)