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Asia-PacificApril 3 2017

Connecting Indonesia: bringing finance to a population of 250 million

The fourth most populous country in the world spread across more than 6000 islands, banks have struggled to reach out beyond Indonesia's big cities up to now. However, a digital transformation is gripping the country, bringing with it the promise of huge increase in financial inclusion. Stefania Palma reports.
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Indonesia has a population of 250 million people spread across more than 6000 islands. However, to date, two-thirds of its population do not have a bank account. 

The Indonesian government is aiming to solve this financial exclusion problem by building a digital economy, given that the vast population is young and the adoption rate of mobile phones is in the double digits. As a result, start-ups including transport, travel and e-commerce applications are mushrooming in the country.

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