The financial technology (fintech) sector in Indonesia is entering a new, more mature chapter. The Indonesian Fintech Association (Aftech) notes a significant paradigm shift, where industry players are no longer merely pursuing massive growth, but are instead prioritizing sound business fundamentals and sustainable profitability.
Chairman of the Aftech Ethics Board, Harun Reksodiputro, speaking at the Indonesia Digital Bank Summit on Monday (7/7), highlighted the evolution of the industry over the past decade. According to him, the phase of seeking product-market fit that dominated ten years ago has been replaced by the emergence of more resilient companies capable of accessing capital markets and extensively integrated into the national financial system.
This pivot in business direction comes amid a more selective global investment landscape. Despite increasing funding challenges, fintech remains the primary investment target for startups in the country. Harun emphasized that the benchmark of success today no longer lies in the sheer quantity of startup births, but in institutional resilience, public trust, and tangible economic impact generated.
Behind this progress, the challenges facing the digital industry have become increasingly crucial. The threat of cybercrime, fraud risks, and the potential misuse of artificial intelligence (AI) demand extra vigilance from business operators. This makes consumer trust the most valuable currency moving forward.
Looking ahead, Aftech stresses that competition in the fintech industry will center on companies' ability to maintain service security and integrity. Harun urged all stakeholders, from regulators to industry players, to strengthen collaboration to ensure the digital financial ecosystem grows in a healthy, sustainable manner and delivers broad benefits to the public.
