“As a mobile-first country, mobile technology is undeniably the biggest game changer for the country. In addition to providing more access, mobile technology also helps create new data points that are crucial…”

FST Media: What are your business and digital priorities for the next 6 months?

Suleiman: As an Association, we focus on policy advocacy and ecosystem building. For this 1st Semester of 2017, we help he Central Bank (BI) formulate the regulatory sandbox policy. We also help the Financial Services Authority (OJK) implement the p2p lending regulation issued last December 2016. Also, we spearhead an advocacy work to leverage technology solve financial inclusion for the bottom of the pyramid.

FST Media: What technology or innovation is proving to be the biggest game changer for the finance industry?

Suleiman: As a mobile-first country, mobile technology is undeniably the biggest game changer for the country. In addition to providing more access, mobile technology also helps create new data points that are crucial for alternative credit scoring, KYC, and many others.

FST Media: How can fintechs and traditional financial services work together collaboratively?

Suleiman: There are many evidences of collaboratios between the two. The underlying theme is about catering of a new market that is previously unserved. Unsecured loans can now be made through new technologies. Unbanked SMEs can now access online payments through merchant acquisitions by innovative payment gateway companies, and many other examples.

FST Media: How can big data insights and analytics be leveraged to help develop customer-centric products and services?

Suleiman: By developing new data points that are not traditionally used for financial services (i.e. creditworthiness, fraud detection, etc.).

FST Media: How can new technologies help to mitigate Cybersecurity risks across the finance space?

Suleiman: Cybersecurity is not yet a big thing here. But, we believe new companies (enterprise or startups) offering cybersecurity-as-a-service with affordable costs will help companies deal with cybersecurity-associated risks.

FST Media: Where do you look for emerging technologies trends?

Suleiman: Countries facing inclusion issues such as India and China will be the best for comparative trends. Recent payments innovations and identity infrastructure is the best case for Indonesia. Also, we as Association plans to promote policy for digitalization similar to the ones carried out by Korea.

FST Media: Where will fintech development in Indonesia be by 2018?

Suleiman: Financial inclusion agenda basically drive the country’s fintech agenda. So, by 2018, fintech will focus on better access to savings accounts and payments (probably with the use of alternative wallets), and better credit infrastructure to cater

FST Media: What existing technology would you like to see play a more prominent role in finance over the next few years?

Suleiman: Globally – blockchain. But it has not become a big thing in Indonesia. For Indonesia, I think the massive use of cloud services (including for Government infrastructure – credit, identity, KYC) would unleash many of the countries’ potential.

FST Media: What is the next big thing for Fintech Indonesia and how will you measure its success?

Suleiman: New generation of payments (merchant acceptance, wallet, new methods – QR pay, biometric, etc) will be the next big thing, considering the existing situation of lack of access to bank accounts and heavy reliance on cash. The Government has launched a “non-cash movement”, and can serve as the reference for measuring success.

FST Media: What is your favourite way to spend your free time?

Suleiman: I like experimenting with various methods of manual drip coffee, using various different coffee beans throughout Indonesia.