Indonesia's fintech industry adopts collaborate-to-grow mantra in tough times

Indonesia's fintech industry adopts collaborate-to-grow mantra in tough times

L to R: Dmitry Levit, founder and general partner, Cento Ventures; Iwan Kurniawan, co-founder and COO of Modalku; Dyota Marsudi, president director of Bank Aladin Syariah; Tessa Wijaya, co-founder and COO of Xendit; and Dimitra Taslim, Vice-President of GGV Capital; at the Indonesia PE-VC Summit 2023 in Jakarta.

Financial institutions in Indonesia will bet on strategic collaborations as the market gets bigger and new licences become harder to get.

Speaking in a panel discussion at DealStreetAsia’s Indonesia PE-VC Summit 2023, Iwan Kurniawan, co-founder and Chief Operating Officer (COO) of Modalku [Funding Societies], said Indonesia’s financial services authority (OJK) is reluctant to grant new licences, while it is also reviewing existing ones. 

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