The Indonesia - UK Fintech Roundtable 2022 is hosted by GIPA in collaboration with Indonesia Fintech Association (AFTECH), B20 Indonesia and Allen & Overy, supported by British Embassy in Jakarta, DIT (Department for International Trade), and DCMS (Department for Digital, Culture, Media and Sport).
Indonesia’s digital economy is predicted to reach $330 billion in value by 2030, twice the current total of South East Asia Gross Merchandise Value today. This roundtable aims to unleash this opportunity by providing the latest fintech outlook in Indonesia and connecting key Indonesia and UK-based tech, fintech and ecosystem players to advance the digitalisation agenda in light of priorities in the Indonesian G20 Presidency.
The roundtable is followed by B20 Indonesia Drinks Reception with Chairman of Indonesia Fintech Association; Co-Chair of B20 Taskforce on Digitalization; and HM Trade Commissioner for the Asia Pacific This reception aims to connect Tech CEOs and Executives across the G20 economies and give a teaser on what to expect on the upcoming B20 Summit later in November 2022. The reception is co-hosted by Indonesia Chamber of Commerce and Industry (KADIN) and GIPA in collaboration with Telkom, AFTECH and Allen & Overy, supported by British Embassy in Jakarta, DIT and DCMS
Indonesia - UK Fintech Roundtable
ATTENDEE BREAKDOWN
The session was attended by C-suites and executives of tech and other industries across the G20 economies
+ EVENT HIGHLIGHTS
Press coverage:
London, June 15, 2022 - GIPA was delighted to host the Indonesia - UK Fintech (Financial Technology) Roundtable 2022 at Allen & Overy London HQ at One Bishops Square at 2:45 pm. This roundtable forum brought together business leaders and professionals to explore opportunities in expanding Indonesia’s digital economy through fintech
This roundtable provided the latest fintech landscape in Indonesia and connected key Indonesian and UK tech (and fintech) stakeholders to advance Indonesia’s G20 Presidency agenda. Following the roundtable, participants then attended B20 Indonesia Networking Reception for the attendees
Chairman of GIPA, Steven Marcelino, introduced the roundtable with welcoming remarks from both Harun Reksodiputro (Managing Partner of Allen & Overy Indonesia) and opening remarks from Pandu Sjahrir (Chairman of Indonesia Fintech Association (or AFTECH) and ShopeePay). Despite a 2% inflation, Mr Sjahrir noted that Indonesia’s economy grew by 5 3% in the early quarter of 2022 Part of the reason for this growth comes from the digital economy (with the likes of online shopping and e-transfer of money) which skyrocketed during the pandemic, causing Indonesia to be a top 4 investment for business and technology
These remarks were followed by briefings from Chris Wilford (Director of Financial Services Policy at Confederation British Industries (CBI) and Budi Gandasoebrata (Secretary General of AFTECH and Managing Director of GoTo Financial) respectively Mr Wilford mentioned that the CBI represents one-third of the UK’s private sector and that the fintech industry is worth $ 11.6 billion in investments alone Over the past decade, the UK underwent a fintech revolution in terms of jobs, innovation, and increased opportunities for global trade for years to come Mr Wilford and noted that the room for investment to better support an ever-widening pool of talent in technology and businesses to adopt fintech innovations has never been better
Mr Gandasoebrata presented on the growth of Indonesia’s fintech industry as well as AFTECH’s role. Some of the key highlights from his presentation include:
Over 30 times increase of e-transfer transactions from 2017 to March 2022, An increase of 50,000 lenders and 5 million borrowers in the local fintech industry from December 2021 to March 2022 and, 59% of fintech users are from the low to middle income segments (5 to 15 million IDR)
All of this is to say Indonesia’s fintech industry is the largest in the Asia Pacific region and one that stimulates substantial economic recovery.
AFTECH’s role in sustaining the fintech growth is by bridging all the fintech vertical integration across Indonesia “through digital finance innovation” and building the local public policy, community collaboration, digital literacy and knowledge capital in this space Mr Gandasoebrata noted that building up knowledge capital is a key step to reduce the risks of cyber attacks, money laundering ponzi schemes and terrorism funding AFTECH’s key priority for the rest of the year is to continue working with regulators in developing fintech policies and build strategic collaborations with local and global partners to increase fintech talent (through university internships and mentorship with skilled tech workers) and the supporting knowledge capacity across Indonesia
The event wrapped up with a Questions and Answers session and was followed by a B20 Indonesia Networking Reception The reception was welcomed by Harun Reksodiputro, with an opening speech by Fajrin Rasyid (Deputy Chair of Taskforce on Digitization at B20 Indonesia), remarks by Pandu Sjahrir and Natalie Black (HM Trade Commissioner for Asia Pacific)
Press coverage by Kenny Go Press and Publication Manager at GIPA kenny.go@gipa.co
Pandu Sjahrir is the Chairman of Asosiasi Fintech Indonesia (AFTECH), a forum for fintech organizers to advocate and collaborate with various stakeholders to encourage technological innovation and strengthen the workforce of Indonesia's fintech industry Pandu also serves at multiple organizations, including: Vice Chair of Digital Finance & Financial Inclusion at Indonesian Chamber of Commerce and Industry (KADIN), Chairman of GoToFinancial, Vice CEO of TBS Energy, and CEO of Electrum
In 2013, he was selected as part of Asia Society’s Asia 21 Young Leaders, an award for emerging leaders under the age of 40 who have made significant impacts in their field Pandu holds an MBA from the Stanford Graduate School of Business and a BA in Economics from the University of Chicago
Budi Gandasoebrata is Managing Director of GoTo Financial and AFTECH Secretary General Budi has been contributing significantly to the fast- pace progress of GoPay as Indonesia's leading electronic money for any payment transaction that you can use through Gojek app Since the launch of Gojek app in 2015, Gojek's technology - including GoPay, has improved the lives of millions of people while empowering the informal sector and Micro, Small and Medium Enterprises (MSMEs) Budi graduated from Fontys University of Applied Science, Eindhoven
Chris leads the financial services policy team, working with businesses and trade associations to shape a policy environment that promotes the UK’s world-leading financial services industry and enables the sector to support growth across the whole economy He is an experienced adviser to government and regulators, having contributed to a range of expert groups on innovation in financial services, interest rate benchmarks, access to finance and digital currencies.
Chris joined the CBI in 2017, having previously sat on the CBI’s SME Council as a member Prior to the CBI, he established the policy function of the global professional body for private dispute resolution and worked at the Recruitment and Employment Confederation, as well as a parliamentary researcher in the House of Lords.
Harun Reksodiputro is Partner at Allen & Overy LLP Harun specialises in corporate and commercial law, including share and asset acquisitions, joint ventures, corporate restructurings and dispositions, investments and divestments He represents local and foreign companies and has led successful negotiations on share purchase agreements, asset purchase agreements, joint venture agreements, and commercial agreements He focuses on investors doing business in Indonesia through direct investment or the capital markets. Harun is a graduate from Boston University School of Law.
Natalie Black became Her Majesty’s Trade Commissioner (HMTC) for Asia Pacific, covering North-East Asia, South-East Asia and Australasia in September 2018 Natalie has held a number of posts in Her Majesty’s Government Previous roles include Deputy Head of the Number 10 Policy Unit, Director of the Internet Harms Unit, and Director of the Office of Cyber Security, Cabinet Office.
Before joining the Civil Service, Natalie was the Chief of Staff for Security at the London Organising Committee of the Olympic and Paralympic Games, London2012, and a management consultant Natalie is a graduate of the London School of Economics and Harvard Kennedy School, where she was a Fulbright scholar.
Fajrin currently work as Director of Digital Business at Telkom Indonesia, a state-owned enterprise and Indonesia's largest telecommunication company He previously worked as Co-founder and President at Bukalapak com, one of the biggest Indonesian all-commerce platforms that want to provide a fair economy for everyone through technology He previously also worked as Boston Consulting Group (BCG) consultant with wide experience across major industries including public services, financial service, IT, automotive, retail, and FMCG Supported by strong analytical skills from an IT and mathematics background from one of the best undergraduate institutions in Indonesia
Fajrin specialities include startup and digital business, e-commerce and related industries (payments, logistics, etc ), product management, entrepreneurship, business strategy and analysis, business process, finance, and project management
Steven Marcelino chairs of Global Indonesia Professionals Association (GIPA) He works with the GIPA council to promote business and investment links overseas through highly talented professionals - working across G20 and ASEAN He took up this global role after co-founding the Indonesian professional’s hub in the UK, called YIPA UK He was the Executive Director of YIPA UK between 2015-2020 and represented diaspora professionals at global fora and conferences
Steven is Managing Partner of Equatorise Advisory, a London-headquartered boutique consulting firm on Indonesia He helps Indonesian corporates, UHNWs, and family offices to do business and invest in the UK and European markets.
Prior to Equatorise, Steven worked at Accenture Strategy, London office as client engagement lead within its Financial Services Strategy practice Steven has been the ASEAN and Indonesia expert and was driving the firm's engagement with Southeast Asian policymakers and authorities in collaboration with a leading UK industry association. Steven started his career as a prime broker at UBS Investment Bank, London office
GIPA aims to promote business and investment links overseas through highly talented Indonesian professionals and executives – a true partner for Indonesia’s economic diplomacy and human capital development
GIPA represents Indonesian professionals and executives in eight key industries across G20 and ASEAN, encompassing 80% of the world's GDP and 60% of the world's population The eight key industries represented are: (1) Financial Services, (2) Healthcare and Life Sciences, (3) Technology, (4) Professional Services, (5) Public Sector and International Organizations, (6) Industrials, Products, and Logistics, (7) Infrastructure, Energy, and Resources, (8) Creative, Communication, and Media.
GIPA champions three Centre of Excellences (CoE) on Professional Development (PD), Public Relations (PRA), and Business and Investment Links (BIL).
