In the fast-growing financial services sector, a combination of technological improvements and changing customer behavior has driven the evolution of fintech, with many fintech companies offering alternative financial services such as payment gateways, loans and investments. Indonesia has responded positively to the growth of fintech, as is evident in the increasing numbers of industry players and consumers over the last few years. According to the Financial Services Authority (OJK) and Bank Indonesia (BI), Indonesia has 190 licensed fintech providers to date, primarily payment and lending fintech. In 2019, electronic money (e-money) transactions hit Rp 100 trillion (US$6.89 billion) while in the lending sector, electronic transactions continue to increase every year. This September, total loans disbursed through fintech lenders reached Rp 128 trillion and involved 29 million borrower...