FII Indonesia - World Economic Forum
Transcription
FII Indonesia - World Economic Forum
PROMOTING GLOBAL FINANCIAL INCLUSION A World Economic Forum Financial Services Industry Initiative From Digital to Financial Inclusion April 2015 1 INDONESIA Financial inclusion in Indonesia is driven predominantly by banks 23% of adult Indonesians are financially included 20% have full-service bank accounts1 3% have nonbank financial institution accounts2 Little presence of new models that have increased levels of financial inclusion elsewhere 0.1% Have registered mobile money accounts Overlap representing those who have multiple kinds of financial accounts is not shown. 1 In addition to loans, full-service accounts offer services such as savings and insurance. 2 Nonbank financial institutions that offer at least one of these services: savings, money transfers, insurance or investments SOURCE: InterMedia Indonesia FII Tracker survey (N=6,000, 15+) August-November 2014 2 INDONESIA Arisans are by far the most widely used non-bank financial service Use of nonbank financial services (NBFS) (Shown: Percentage of Indonesian adults, N=6,000) Used NBFS Never used NBFS Use of nonbank financial services by type1 (Shown: Percentage of Indonesian adults to have ever used, n=2,055) Arisan 69% Cooperative / Ventura2 Pawn shop2 32% 68% 18% 12% Money guard 9% Post office bank2 9% Rural credit bank2 7% Other 6% Money lender 5% ▪ On average, people have only ▪ ▪ ▪ ever used one NBFS 32% use at least one NBFS 8% use two or more NBFS 2% use three or more Arisans are an Indonesian form of a Rotating Savings and Credit Association (ROSCA). Arisans, while the most commonly used form of nonbank financial services, are also one of the least formal types of financial services. 1 Question allowed multiple responses. 2 Denotes semi-formal/account-bearing nonbank financial services SOURCE: InterMedia Indonesia FII Tracker survey (N=6,000, 15+) August-November 2014. 3 INDONESIA Active arisan users have the same financial habits as the general population, making them prime for formal financial inclusion Top 5 financial behaviors in the past 90 days by NBFS subgroup (% of subgroup) Total N=6,000 Full-service NBFS account holders n=229 Persons to have used an arisan in the past 90 days n=1,352 Buy goods/groceries 88% 92% 92% Pay bills 83% 90% 92% Buy airtime 60% 65% 57% P2P transfers 58% 64% 59% Receive wages 55% 71% 60% NBFS users are prime for financial inclusion ▪ They are engaged in activities that can be facilitated by financial accounts ▪ They already use some form of financial services SOURCE: InterMedia Indonesia FII Tracker survey (N=6,000, 15+) August-November 2014. 4 INDONESIA There is also a major opportunity to increase penetration of mobile money Kenya Indonesia Bangladesh Access to financial services Percent 77.0 73.0 49.0 52.0 31.0 32.0 29.0 29.0 26.0 23.0 20.0 0.1 Total access (ever used) Ever used a bank account Ever used mobile money SOURCE: InterMedia Indonesia FII Tracker survey (N=6,000, 15+) August-November 2014 Ever used an NBFS 5 INDONESIA So, what’s holding back digital financial services for financial inclusion? Literacy rate of adults (ages 15+) Percent of adults who send or receive text messages with a mobile phone 94% 82% 69% 68% Kenya Indonesia 57% Kenya Indonesia Bangladesh 31% Bangladesh Selamat pagi! Apa kabar? Baik-baik saja! Dan kamu? ◦◦◦ SOURCE: InterMedia Indonesia FII Tracker survey (N=6,000, 15+) August-November 2014. 6 INDONESIA Another opportunity may be to develop P2P transfer offerings for women Top 5 financial behaviors in the past 90 days by demographic (% of subgroup) Total N=6,000 Male n=2,367 Female n=3,633 Urban n=3,160 Rural n=2,840 Above poverty line n=2,239 Below poverty line n=3,761 Buy goods/groceries 88% Pay bills 83% Buy airtime 60% 65% 55% 68% 51% 73% 53% P2P transfers 58% 40% 75% 59% 55% 61% 56% Receive wages 55% 72% 39% 53% 57% 54% 55% Buying goods/groceries and paying bills are the most and second most common financial behaviors for each demographic group at approximately the same percentages as the entire population. Cash is the most common method for conducting all of these transactions. Among these five categories, cash is least common for receiving wages (96%) and most common for buying goods and groceries (99%). SOURCE: InterMedia Indonesia FII Tracker survey (N=6,000, 15+) August-November 2014. 7