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.