5 aspiring startups powering the fintech revolution

Indonesia is surfacing as one of the most propitious markets for fintech verticals in the region. Propelled by its huge population of 260 million people and as a market viewed to have great growth potential, the fintech industry has overall experienced a transformation similar to India’s a year before.

It is now a prime space in the archipelago, with flourishing investments, expansions and new product launches to solve the needs of the people. Up and coming fintech verticals have also been contributing to the financial industry’s revamp in the country, paving the way for a new future of financial inclusivity.

Here, we highlight five promising fintech companies that will be making an appearance at Tech in Asia Jakarta 2017 this November 1 & 2 to showcase their products. Check them out below!

1) Ayopop

With the mobile payment scene in Indonesia undergoing growth, many startups are hopping on the bandwagon. Amongst them is Ayopop, a one-stop payments app which allows users to top up their phone balance and pay a variety of bills – including utilities, mobile, insurance, banks, and more – without incurring any administration fee. They also provide 24/7 in-app chat support and cash back deals on specific products that allow users to earn Ayopop credits after a purchase.

2) EZi Wallet

Riding on this fintech wave is also EZi Wallet, a Singaporean mobile payment app with a local twist – it can be used at F&B outlets, including hawker centres. The app functions as a Stored Value Facility platform with value added services like ordering, payment and loyalty programmes.

The team behind EZi Wallet is also dedicated to designing and implementing solutions to suit the needs of their clients, including the elderly. Their patented solutions are supported by grants from local government agency SPRING Singapore, and have won accolades such as the Top HDB productive tender award.

3) DuitTurbo

Need some emergency cash without the stress? Gone are the days of taking loans that require bureaucracy. Taking moneylending online, DuitTurbo is an online lending service tailored for your everyday needs and makes access to loans convenient, fast, and reliable.

The startup understands the pain of having urgent financial needs, and aims to solve this with its credible service that offers quick loans processed entirely from your Android phone. Using data points in users’ smartphones, they predict their credit worthiness for quick access to loans.

4) Bitcoin.co.id

If you’re into the cryptocurrency trend and based in Indonesia, you may have heard of Bitcoin.co.id, one of the popular local Bitcoin startups. The online platform where users can buy and sell Bitcoin, Ethereum, and other digital assets now have more than 500,000 members registered worldwide.

Apart from their Multifactor Authentication and SMS verification security features, users will also appreciate the speed of their instantaneous transactions (purchases within an hour), simplicity of transactions and an online 24/7 platform to trade and speculate, anytime you want to – even on public holidays!

5) OnlinePajak

Tax reporting encompasses 43 different payments per Indonesian taxpayer, which takes up a whopping 221 hours annually on average. OnlinePajak, a web-based tax app that helps you prepare, pay and file online for free – seeks to help taxpayers settle their tax obligations efficiently with just one click!

With the app, businesses can also easily track their employee bonuses, payrolls and tax requirements whenever they wish to. OnlinePajak also solves manpower problems for new or small businesses, taxpayers who are unable to speak Indonesian, and those who are unfamiliar with their tax obligations. The app does all the calculations, simplifying the entire process and making filing a breeze for anyone, anywhere.

Today, their impressive list of clientele includes industry giants like Telkomsel, Huawei, Go-Jek, Astra, Huawei, Tokopedia and the Kawan Lama Group.

Join other budding startups at #tiajkt2017

Fintech startup or not, as long as your startup has a working prototype, raised less than USD1.5 million in external funds, and is looking for increased visibility and exposure, join Tech in Asia Jakarta 2017 as an exhibitor to flaunt your product and team to 6,000 attendees!

Each booth package comes with a one-day booth and two exhibitor passes, and costs US$187 for local startups and US$447 for international startups. Save 10 percent off your booth package if you apply by 29 September!

If you would like to meet these startups in the flesh this November, key in the promo code tiajkt10 to save 10 percent when you purchase your conference pass.