This study assesses the impact of COVID-19 on the demand for financial services through agents and agent operations. It seeks to understand the ability of cash-in cash-out (CICO) agents to support government assistance programs. The study further provides recommendations to support policy development and aid the recovery of CICO agents in Indonesia.

To help the MSME sector recover from the pandemic, the Government of Indonesia (GoI) has budgeted IDR 123 trillion (USD 8.4 billion) as part of the National Economic Recovery Program (Program Pemulihan Ekonomi Nasional). This blog highlights the opportunities and steps needed for FinTech platforms to support the economic recovery efforts of GoI.

This blog discusses the impact of COVID-19 on FinTechs in Indonesia. It also highlights the coping strategies of start-up FinTechs and provides recommendations for the stakeholders, government, and policymakers to help them survive and catalyze their growth.

Indonesia has been the hotbed for FinTech innovations across the ASEAN region. However, like all other businesses, FinTechs in the country too have been struggling to cope with the Pandemic. In this study, we highlight the impact of the pandemic on FinTechs in Indonesia.