Indonesia
Indonesia shows a reverse gender gap: 51.4% of the female adult population is banked compared to 46.2% of the male population. That metric of success, however, can lead to complacency. When financial service providers adopt a gender-agonistic view or do not recognize low-income women as a target market, they lose out on a significant market opportunity and millions of women go without financial services that address their particular needs.
Low and stagnant female labor force(80% in informal sector)
51%
Compared to men
80%
2nd largest migrant populationof which 47% are women1
Dynamic market forentrepreneurship—59MMenterprises employing 97%of adults and contributingto 60% of GDP
Improvement in financialinclusion from 19.6% (2011) to
48.9%(2017)
However, gender gap haswidened from 7% to
29%
Reverse gender gap
51% of women are financiallyincluded vs 46% of men
There is wideregional disparity infinancial inclusion
Some areas experience oversupply whileothers remain underserved
47MM (48%) unbanked adult women
15MM (19%) underserved adult women
High mobile phone penetration (77%)Low penetration of digital financial services (3%)
Low penetration of digital financial services (3%)
Infrastructure and connectivity challenges and lack of awareness are significant barriers to uptake of digital financial services
Financial ServiceProviders
Financial sector dominated by banks Cooperatives and microfinance institutions continue to play a role Indonesia is becoming a hub for digital innovation (e.g., “super-apps” suchas Bukalapak, Tokopedia, Go-Pay) withmany new non-bank and FinTechplayers emerging
Government
National Financial Inclusion Strategy launched in 2016, with target of 75% inclusion by 2019 Focus on regulations around e-moneyand Laku Pandai Push towards Digital Economy 2020 Development of national payments gateway to support interoperability
Indonesia’s economic dynamism allows room for new players alongside established institutions. Women’s World Banking’s partnerships with this expanding ecosystem will drive women-specific solutions to meet the needs of a growing digital economy.
