This is the Most Needed Government Action by Indonesian Fintech Companies
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Based on the Indonesian Fintech Association (Aftech) survey report titled *Annual Member Survey 2022/2023*, 64% of Indonesian fintech startup respondents rated the government's actions and support for the industry as fairly good. Conversely, 36% felt it was insufficient.
Of those who felt the support was insufficient, the majority (56.0%) stated that the most needed government support was related to easing fintech investment regulations in the future.
“Regulatory easing is necessary for the fintech industry to grow and compete with similar conventional industries without neglecting consumer protection,” Aftech stated in its report.
Other support needed by Indonesian fintech startups includes increased reach and accessibility of government funding, and the availability of alternative support schemes, with each receiving 13.3% of respondent mentions.
Furthermore, 9.3% of respondents believed the government should provide incentives for fintech investors in Indonesia.
Additionally, 6.7% of respondents felt the government should allocate a larger budget for fintech investment. Meanwhile, 1.3% of respondents mentioned other forms of support.
Aftech conducted this survey in collaboration with the Katadata Insight Center (KIC), involving 75 respondents representing Aftech member companies. The survey was conducted in Q2 2023 via an online questionnaire.
The survey also included in-depth interviews with three AFTECH members—Ayoconnect, Trusting Social, and Amartha—as well as a literature review to complement the analysis.
The majority of companies involved in the survey are located in Jabodetabek (92%), followed by Yogyakarta and Surabaya (1.3%). In terms of employee numbers, most companies have fewer than 50 employees (50.6%), followed by 51-100 employees (24%).
"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."
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