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Jakarta Post

Fintech expands retail investment among young Indonesians

  • Eisya A. Eloksari

    The Jakarta Post

PREMIUM
Jakarta   /   Mon, November 23, 2020   /  05:35 pm
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Illustration of fintech.(Shutterstock/File)

Fintech platforms are projected to aid the surge in the number of Indonesia’s retail investors in the future, particularly as the younger generation is tapping into investment amid the COVID-19 crisis, the Indonesian Central Securities Depository (KSEI) has said. KSEI data show that the number of investors in equities, mutual funds and bonds increased 36.6 percent year-to-date (ytd) from December last year to 3.4 million as of October this year, of which the majority are individual investors. Almost half of the investors joined through fintech platforms and 48 percent were below the age of 30, according to the data. “This is an incredible prospect. We can expect the number to go up over the next 15 years as Indonesia is forecast to have a demographic bonus,” KSEI director Uriep Budi said in a webinar hosted by the Indonesian Fintech Association (Aftech) on Nov. 20...