The Indonesian financial markets have shown a remarkable recovery from the Asian Financial Crisis in the 1990s. Prudent fiscal management and strengthening economic fundamentals were behind Indonesia’s robust economic growth from the mid-2000s (although the global economic slowdown and low commodity prices caused Indonesia’s economic slowdown in the years 2011-2015). Meanwhile, Indonesia’s benchmark Jakarta Composite Index, which encompasses all stocks listed on the Indonesia Stock Exchange and therefore can be regarded the main indicator of financial market performance in Indonesia, has been experiencing substantial growth since 1999 up to the present. This index suffered a record low in 1998 and a record high in March 2015.
Credit Ratings & Foreign Confidence
Currently,Indonesia is well on track to receive investment grade status from all three key international credit rating agencies. In late 2011 Fitch Ratings was the first agency (out of the big three) to reinstate Indonesia’s investment grade status after a 14-year hiatus. In January 2012 Moody’s Investors Service followed suit citing the country’s resilient economy. Only Standards &Poor’s kept its rating for Indonesia one notch below investment grade. It is assumed that these upgrades will trigger more capital inflows as a number of global funds can only invest in investment grade economies only. Overall, investment grade status improves investors’ confidence in the fundamentals of the Indonesian economy.
● Popular Fintech Company in Indonesia
Doku is the most popular service proved to be payment gateway. It is founded in 2007, DOKU provides electronic payment processing, online and in-mobile applications enabling e-commerce merchants of any size to accept a wide range of online payment options from credit cards to emerging payment types. The firm also launched its own wallet DOKU Wallet to allow easier online transactions. The service sits between online merchants and shoppers, allowing the merchant to accept a number of payment options through the site, for example in the form of credit card payments, ATM transfers, or cash payments at convenience store counters.
HaloMoney is in the top 10 of Fintech Company in Indonesia. It is a comparison website for financial products such as insurance, broadband, banking, and loans, aims at empowering customers to take more control over their finances. HaloMoney is part of Compare Asia Group, the region’s leading financial comparison engine which also operates in Hong Kong, the Philippines, Taiwan, Thailand, Malaysia and Singapore.
Jojonomic is the leading mobile expense reimbursement solution in Southeast Asia. They are an SaaS (Software as a Service) B2B (Business to Business) Fintech (Financial Technology) company, serving prominent enterprises throughout Indonesia. The app allows the users easily manage their money by recording all the expenses and earning. Previously, Budi Santoso worked at Groupon Indonesia and has published numerous books on finance.
NgaturDuit.com is top 10 Fintech Company in Indonesia. It is founded in 2010, NgaturDuit is an Indonesia-based online service provider for users to plan and track their budget and expenses. NgaturDuit offers a service that helps its users to manage their finance, including expense reporting, investment portfolio monitoring, budgeting, and free consultation. NgaturDuit ran the extra mile by offering users with financial consultancy services, which is powered by IARFC, the largest personal financial planner group in Indonesia. NgaturDuit is a joint operation between two small IT consultancy companies.
Pawoon is cloud-based Point of Sales (POS) application for Small to Medium Enterprises (SMEs). Pawoon help SMEs becoming more efficient and productive in running their business, by providing a platform that gives them the tools to thrive in the current era of connected commerce.