Photo by joyfull/

Photo by joyfull/

Indonesian startups are racing to serve the millions of consumers that banks haven’t reached. Here’s a look at some of the leading players, their innovations and how they have redefined the market

Indonesia has a banking problem. More than 170 million, or about two-thirds, of its citizens don’t have a bank account. 
This means that these people – usually lower-income Indonesians – can’t access basic financial services, whether it’s depositing their savings, getting a credit card or taking out loans at reasonable interest rates. It’s a lack that threatens their welfare and financial well-being. 
Some local entrepreneurs, though, have spotted an opportunity in this landscape. New online-to-offline startups are helping Indonesians witho...

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