Oradian’s core banking system is available in Indonesia.
Highlights from the Embedded Finance Forum 2024
On 12 November 2024, the St. Regis Jakarta became the epicentre of innovation in the financial services industry as Oradian partnered with Brankas, Boost Capital, and PT. Infosys Solusi Terpadu (IST) to host the Indonesia Embedded Finance Forum 2024. This landmark event brought together senior banking executives, fintech leaders, and industry innovators to explore the transformative potential of embedded finance in Indonesia.
Scaling Embedded Finance: Opportunities and Challenges
Embedded finance is rapidly reshaping Indonesia’s financial landscape, integrating financial services into non-financial platforms to drive accessibility and customer engagement. The sector has experienced remarkable growth, with embedded finance revenues in Indonesia projected to rise from US$2.16 billion in 2024 to US$8.79 billion by 2029, according to Research and Markets. This surge is driven by increasing digital adoption and government initiatives promoting financial inclusion.
Antonio Separovic, CEO of Oradian, highlighted the significance of this shift: “Embedded finance is transforming how financial institutions interact with their customers and deliver services. For traditional banks and fintechs to seize this opportunity, they need lean and agile technological solutions that can adapt to market demands and regulatory changes. The ability to integrate with non-traditional players and meet the needs of underserved communities will be key to success in the digital economy.”
However, with great opportunity comes complexity. Integrating financial services seamlessly across platforms requires scalable technology, robust cybersecurity, and flexible infrastructure. Cloud-based solutions, open APIs, and real-time data analytics are critical enablers, providing the adaptability and security needed to meet high transaction volumes and deliver frictionless customer experiences.
Learning from Success Stories
The forum also examined global success stories, including lifestyle platforms like Grab, Tokopedia, Shopee, and payment services such as Apple Pay. These examples illustrate how embedded finance can enhance customer experiences and unlock new revenue streams by meeting consumers where they are most engaged. Tony Pham, Oradian’s Head of Business Development – Asia, explained, “Embedded finance is about meeting customers beyond traditional banking apps. Whether shopping on an e-commerce platform or booking travel, the core infrastructure must be flexible, scalable, and open to integration, creating an agile, customer-centric ecosystem.”
Partnerships Driving Innovation
The event underscored the importance of strategic partnerships in advancing embedded finance. Martin Sendra, Platform Partnership Head at OCBC Indonesia, shared his insights: “The future of banking extends beyond mobile banking apps. By embedding financial solutions into non-banking platforms that align with customers’ daily lifestyles, we aim to create a more comprehensive and convenient financial experience.”
Strategic collaborations between financial institutions and non-traditional players are vital for navigating regulatory challenges, scaling operations, and delivering seamless, integrated experiences to consumers. The Embedded Finance Forum highlighted how partnerships between banks, fintechs, and technology providers can catalyse innovation and expand market reach.
A Collaborative Future
The Indonesia Embedded Finance Forum 2024 was held as part of Bulan Fintech Nasional (BFN) 2024 and in conjunction with the WFIS (World Financial Innovation Series) Indonesia conference. These initiatives aim to enhance financial literacy and inclusion through fintech innovations, further positioning embedded finance as a cornerstone of Indonesia’s financial future.
As embedded finance continues to grow, Oradian is committed to empowering financial institutions with modern, extensible core banking solutions. To learn more about how Oradian can help your institution adapt and thrive in this dynamic landscape, visit oradian.com or contact the team at hello@oradian.com.
