Where are the opportunities for fintechs in Indonesia?

Based on the recent Fintechs in Asean Report, why do fintechs typically choose Indonesia as a base for their operations?

Fintechs typically choose Indonesia to create a regional base to market their existing portfolio of products and gain access to capital.

Housing 20 per cent of all fintechs in the seven Asean markets, Indonesia has a large potential for future customer growth with a smartphone penetration rate (24 per cent) below the Asean average and 49 per cent of the population aged 15 and above holding a bank account. Indonesia's belowaverage ICT capabilities and financial inclusion rate presents a huge opportunity for technological change that can enhance the support for fintechs.