Indonesia Has the Highest Number of Unbanked Adults in ASEAN

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Viva Budy Kusnandar 09/10/2019 07:35 WIB

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Only 104 million adults in Southeast Asia have full access to banking/financial services.

Number of Adult Population Unreached/Reached by Financial Services (2019)

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Number of Adult Population Unreached/Reached by Financial Services (2019)

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According to 2019 research by Google, Temasek, and Bain & Company, titled "e-Conomy SEA 2019," there are approximately 400 million adults in Southeast Asia. However, only 104 million have full access to banking/financial services (banked). This group has bank accounts and access to credit, investment, and/or insurance from financial institutions.

Approximately 98 million adults in ASEAN have bank accounts but lack access to other financial services (underbanked). The remaining 198 million have no access to banking or financial services (unbanked).

Indonesia has the highest number of adults without access to financial services in Southeast Asia, reaching 92 million. The introduction of technology-based financial services (fintech) will accelerate access to banking and financial services for the population.

(Read Databoks: Only Half of Indonesian Adults Have Bank Accounts)

Editor : Hari Widowati

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."