Indonesian FinTech Association

What Indonesian FinTech Association does

The Indonesian FinTech Association (legal name: Asosiasi Fintech Indonesia, AFTECH) is a Jakarta-based industry association founded in 2016 and officially designated by Indonesia's Financial Services Authority (OJK) on July 19, 2019 as the Association of Digital Financial Innovation Organizers (IKD) under POJK No. 13/2018. It operates as the statutory and self-described forum for fintech providers to advocate and collaborate with regulators, financial institutions, and ecosystem stakeholders to drive technological innovation in Indonesia. Membership is structured across five tiers (Full Members for licensed fintechs, Honorary Members for non-fintech financial institutions, Observing Members for unlicensed fintechs, Supporting Members for related industry entities, and Associate Members for other associations), with 169+ member companies spanning digital payments, capital markets, insurance technology, digital assets, and banking. Engagement is coordinated through 13 specialized departments, a Code of Ethics / Self Assessment Code of Conduct framework, the Cekfintech consumer verification platform, the Knowledge Hub research repository, and programmatic offerings including INFINITY (youth community) and AFTECH Academy (certification and training).

AFTECH is governed by a Supervisory Board (chaired by Arsjad Rasjid) and an Executive Board (chaired by Pandu Sjahrir), with Mercy Simorangkir serving as Interim Executive Director. Revenue is generated primarily through annual membership contribution fees across the five tiers; specific pricing is not publicly disclosed and onboarding to full acceptance takes roughly 14 working days. Strategic value derives less from commercial products than from regulatory access and convening power, evidenced by ongoing engagements with OJK, Bank Indonesia, and BSSN, the Indonesia Digital Innovation Hub (PIDI) partnership launched with Bank Indonesia in February 2026, and recurring flagship events such as the Annual General Meeting, C-Level Gatherings, Expert Labs, and the Indonesia Digital Bank Summit.

The association's core technology stack is intentionally non-proprietary: AFTECH is a platform for advocacy, knowledge dissemination, and standard-setting rather than a SaaS or fintech operator. Underlying assets include the cocfintech.id self-assessment portal, cek.fintech.id consumer verification service, fintech.id member portal, and a knowledge hub publishing quarterly Fintech Update reports, consultative papers, and annual member surveys. Commercial expansion is supported by partnerships such as the Austrade foreign-fintech entry guide (December 2025), the October 2019 Bill & Melinda Gates Foundation grant for ecosystem development, and the recent Future Plus Indonesia youth financial literacy program with Save the Children Indonesia and Hanwha Life (June 2026).

Name

Indonesian FinTech Association

Legal name

Asosiasi Fintech Indonesia (AFTECH)

Website

https://fintech.id

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

Indonesian FinTech Association (AFTECH) is a Jakarta-based industry association and OJK-designated body for licensed fintech operators, representing 169+ members across payments, lending, capital markets, insurance tech, and digital assets through five membership tiers, advocacy, training, and standard-setting programs.

Ownership category

akta.pro rank

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Membership Contributions: AFTECH generates revenue through membership contribution fees. Companies seeking membership pay fees as part of the onboarding process. The association provides various member services including department participation, monthly events, and access to regulatory discussions.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Indonesian FinTech Association (AFTECH) is a private industry association serving as the official umbrella body for Indonesia's fintech sector. It provides fintech companies with regulatory advocacy, industry representation, code of ethics framework, financial literacy programs, and community collaboration through member services including policy advocacy forums, monthly networking events, training programs, the Knowledge Hub research repository, and the INFINITY youth community program.

Product overview

The Indonesian FinTech Association (AFTECH) operates as an industry association serving fintech providers rather than a product company. Its offerings consist of member-facing programs including the Knowledge Hub (research and publications), INFINITY youth community (financial literacy and internship programs), AFTECH Academy (professional training and certifications), Cekfintech (consumer verification service), and Self Assessment Code of Conduct tools. The association coordinates policy advocacy across 13 specialized departments and facilitates collaboration between fintech companies, regulators, and stakeholders to drive technological innovation in Indonesia's fintech industry.

Differentiator

Problem solved

Functional benefit

Brands

• INFINITY (Indonesia Fintech Youth Community): AFTECH's youth community program that invites Millennials and Gen Z across Indonesia to participate in literacy education activities and become agents of change in the fintech industry
• AFTECH Academy
• Cekfintech

Products and services

• AFTECH Knowledge Hub A research repository providing fintech industry research, reports, white papers, and publications including Fintech Update Quarterly reports, industry consultative papers, and annual member surveys. Targeted at AFTECH members and fintech ecosystem stakeholders.
• AFTECH Academy Certification and training programs for fintech professionals covering compliance risk training, APUPPT training, anti-fraud training, and GCG (Good Corporate Governance) for fintech. Targeted at fintech industry professionals seeking structured capability development.
• INFINITY (Indonesia Fintech Youth Community) A youth community program inviting Millennials and Gen Z across Indonesia to participate in financial literacy education, with access to campus event sponsorships, training, seminars, and internship opportunities with AFTECH member companies.
• Cekfintech A consumer-facing verification service allowing consumers to check and verify fintech providers in Indonesia for consumer protection purposes. Targeted at Indonesian consumers seeking to validate fintech service legitimacy.
• Self Assessment Code of Conduct A self-assessment online tool enabling member companies to evaluate their compliance with AFTECH's Integrated Code of Ethics standards. Targeted at AFTECH member companies seeking to demonstrate code of conduct adherence.

Quantifiable outcome

• Over 169 million borrowers served by Pindar (digital lending) industry since inception
• +4 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

15 partnerships are on record, tiered core and minor.

• AustradecoreStrategic or Co-development PartnerJoint guide released December 2025 outlining market opportunities for foreign fintech firms entering Indonesia. Identified US$235 billion credit gap opportunity and three major opportunity areas: underserved regions beyond Java, cross-sector partnerships, and product innovation through super-apps, insurtech, and AI-driven services.
• Bank IndonesiacoreStrategic or Co-development PartnerPartnership in launching Indonesia Digital Innovation Hub (PIDI) in February 2026. PIDI includes Digdaya talent development program and Hackathon innovation laboratory focusing on financial innovation, food security, public services, and digital exports. Strategic measure toward Indonesia's Golden Indonesia 2045 vision.
• Financial Services Authority (OJK)coreStrategic or Co-development PartnerOJK officially designated AFTECH as the Association of Digital Financial Innovation Organizers (IKD) on July 19, 2019 under Regulation No. 13/2018. Ongoing regulatory engagement for fintech policy development.
• Save the Children IndonesiaminorStrategic or Co-development PartnerAFTECH supported launch of Future Plus Indonesia: Youth Financial Literacy Program in June 2026. Initiative aims to enhance financial knowledge among vocational high school (SMK) students in Bandung.
• Hanwha LifeminorStrategic or Co-development PartnerCo-supporter of Future Plus Indonesia Youth Financial Literacy Program supporting Save the Children Indonesia initiative.
• SBM ITBminorStrategic or Co-development PartnerCollaborating institution in Future Plus Indonesia program providing mentoring by SBM ITB students for peer-to-peer learning within schools.
• JALINcoreStrategic or Co-development PartnerAFTECH partnered with JALIN to organize C-Level Gathering and Expert Lab on fraud resilience strengthening in May 2026, addressing digital fraud threats in the fintech ecosystem.
• Garuda TVminorGTM or Marketing PartnerMedia visit in May 2026 as part of ongoing efforts to strengthen relationship between fintech industry and media platforms.
• Harian KompasminorGTM or Marketing PartnerMedia visit in June 2026 to discuss fintech industry development and contribution of Pindar in expanding access to financing for individuals and businesses.
• KatadataminorGTM or Marketing PartnerMedia collaboration strengthening through media visit to Katadata in May 2026.
• Badan Siber dan Sandi Negara (BSSN)coreStrategic or Co-development PartnerPartnership for cybersecurity enhancement in fintech industry. MoU signed December 2025 for personal data protection guidelines dissemination in January 2025.
• OJK Capital Market DivisioncoreStrategic or Co-development PartnerStrategic discussion in May 2026 on strengthening access to global investment opportunities for Indonesian investors through safe, transparent, and regulated domestic channels. Addressed expansion of access to global securities, regulatory certainty, investor protection, and competitiveness of Indonesia's digital investment ecosystem.
• CAEDA and GDTTCminorStrategic or Co-development PartnerDelegation visit in May 2026 to explore Indonesia-China digital economy collaboration opportunities.
• DF18 (Asosiasi Digital Indonesia)minorOthersDF18 is an Indonesian Digital Association that AFTECH monitors and collaborates with in the fintech ecosystem.
• ADIGSIminorOthersIndonesian Digital Creative Association that AFTECH is a member of for broader industry collaboration.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Innovate Finance: UK-based industry body representing the global fintech community. Comparable to AFTECH in advocacy, member-services, and ecosystem-development mission, though operating at a more international scale.
• Hong Kong Fintech Association: Non-profit industry body representing Hong Kong's fintech ecosystem. Comparable to AFTECH in regulator engagement, member services, and Asian financial-hub positioning.
• Fintech Association of Japan: Japan's fintech industry association established in 2018. Comparable to AFTECH in mission — engaging with the Financial Services Agency, supporting member companies, and promoting fintech adoption across payments, lending, and other verticals.
• Singapore FinTech Association: National fintech industry association for Singapore, paralleling AFTECH's role in Indonesia. Both serve as the unified industry voice engaging with their respective central banks (MAS and Bank Indonesia) and host member programs across fintech verticals.
• Korea Fintech Industry Association: South Korea's fintech industry association engaging with domestic regulators (FSC/FSS) and supporting member companies. Parallel to AFTECH's engagement with OJK and Bank Indonesia in Indonesia.
• Australian Fintech Association (AusFintech): Australia's peak fintech industry body. Comparable to AFTECH in scope, member-diversity profile, and focus on regulatory engagement to shape digital-finance policy.

Broad incumbents

• Malaysia Digital Economy Corporation (MDEC): Government-backed agency driving Malaysia's digital economy including fintech. Comparable to AFTECH in fintech-ecosystem development role, but broader in scope and backed by government mandate rather than industry self-organization.
• ASEAN Fintech: Regional coordination layer across Southeast Asian fintech associations including AFTECH. Represents a higher-level umbrella above national bodies like AFTECH, providing regional-level advocacy and cross-border programs.

Regional players

• Thai Fintech Association: Thailand's national fintech industry association. Comparable to AFTECH as a Southeast Asian regional peer with similar regulator-engagement and member-service mandates.
• Fintech Philippines Association: The Philippines' fintech industry body, directly comparable to AFTECH as a Southeast Asian national fintech association. Both engage with their respective central banks (BSP and Bank Indonesia) on regulatory matters.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/fintechid
• Facebookfacebook.com/fintechID
• LinkedInlinkedin.com/company/asosiasi-fintech-indonesia

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indonesian FinTech Association