Indonesia’s Financial Services Authority (OJF) aims to finalize new rulings for the the country’s fintech firms by the end of 2016. According to Muliaman Hadad, OJF’s Chairman of Board of Commissioners, to get a better understanding of the ecosystem, the regulator will seek advice from the region’s foreign authorities. Hadad was quoted by DealStreetAsia as saying, “We will start consulting our peers in China, Australia, Singapore, and Malaysia. I want to see their responses and suggestions first. However, we will try our best to finalise it this year.”


Here is a list of the top 7 fintech startups in Indonesia to watch out for:


1. HaloMoney 

A website where you can compare financial products, including broadband, banking, insurance and loans. The startup is included in the Compare Asia Group, the primary online financial comparison platform. They have offices in Malaysia, Thailand, Taiwan, Singapore, Philippines and Hong Kong. HaloMoney is aiming to empower customers to have more control over their financial affairs.


This integrated investment platform was created by PT Bareksa Portal Investasi in 2013. is the very first of its kind to be launched in Indonesia. It offers customers with information and news, investment tools and data services, investors community and a learning center. The startup enables its users to sell and buy online mutual funds.


Mall of Indonesia


3. CekAja 

A comparison online platform for financial products that is focused on simplicity, security and accuracy. It compares deposits, credit cards and personal loans. It also offers comparisons on syariah, a deposit that follows Islamic principles. The startup also provides comparison for vehicle insurance and financing, mortgages, life and property insurance, as well as electronics insurance products.

4.  Doku

Doku was created by PT Nusa Satu Inti Artha in 2007. It is the country’s fastest growing and largest risk management solutions and electronic payment provider. The startup offers mobile and online payments applications, in addition to electronic payment processing. It is currently serving around 800 businesses in the country.

5. Veritrans 

Another Indonesian payment startup that supports the country’s e-commerce. The fim processes payments via direct debit (CIMB Clicks, Mandiri Clickpay, e-Pay BRI,), credit card, digital wallet (BBM Money, T-cash, XL Tunai, Mandiri eCash, Indosat Dompetku), bank transfer (Mandiri Bill Payment and Permata Virtual Account) and Indomaret.


Delpi Rock Lounge. Bali Indonesia


6. Kartuku (PT Multi Adiprakarsa Manunggal) 

Created in 2001, this startup is one of the country’s oldest electronic payments firms. The startup is a Payment Service Provider (PSP) and Third Party Processor (TPP) that provides hardware products including encoders and card printers, network access equipment and payment terminals. It also offers software solutions like internet payment gateway, transaction processing switch, terminal line encryption, and smart card applications.


A startup that offers services and tools dedicated to helping its customers manage their finances. The startup’s services include free consultation, investment portfolio monitoring, and budgeting expense reporting.

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