After exploring the financial industry in Malaysia, NYET and △△ banks conducted a Pan-Asia project in Indonesia to identify the possibilities of Indonesian regional financial institutions and to explore new opportunities.
Indonesia is home to Big 3 banks called BRI, Mandiri, and BNI, and has the high share of Chinese banks. Recently, the local FinTech firms have been active and are showing strong gains in ‘Payment’ and ‘Lending’ sectors.
We held the meetings with the officials of OJK (Indonesia Financial Services Authority), PERBANAS (Indonesian Banks Association), Kamar Dagang Dan Industri Indonesia (Indonesian Chamber of Commerce and Industry), and FinTech Indonesia. We discussed the major issues of the financial industry and talked about the expected role of banks in the future.
The high-level officials of the Indonesian government were very active in discussions, and it was an invaluable time to consider the path of coexistence and to share strategies that could be successful strategies for each other.