Responsible Finance Indonesia

Opportunities and Risks in Digital Financial Services in Indonesia

In Indonesia, the microfinance industry has a significant role in improving access to finance and financial inclusion in general, especially to the low-income segments. The growth of the industry is significant, however intense competition has provoked tension in the microfinance sector, some microcredit suffered from overly rapid growth. The rapid growth of microcredit leads to higher lending volume and increasing the likelihood of over-indebtedness among its clients, as it has happened in India, Mexico, Bosnia, and Nicaragua. These countries have a high penetration micro loans that spurred the occurrence of defaults and financial crisis.

Responsible finance has is a cornerstone to refocus on the needs of end-clients to ensure sustainable growth both micro-end clients and the MF sector. By embedding the principles of responsible finance into the core delivery of financial services, financial institutions can provide low-income people broader access, and contribute toward wider economic growth. Implementation of the principles of responsible finance will deliver stronger value to clients and ensure the long-run viability of financial providers.

In Indonesia, IFC (Finance & Markets) WBG aims to facilitate sustainable and responsible Microfinance (MF) growth in Indonesia through supporting the adoption of good practices in Responsible Finance (RF) by Indonesia microfinance providers. The project has three components: (i) supporting Indonesia microfinance forum in convening and expanding its membership; (ii) facilitating formulation and adoption of the Indonesia MF forum’s charter that incorporate Responsible Finance principles, assessment and monitoring framework; and (iii) capacity building for members of Indonesia MF forums and end-micro-clients.

The project is underway and working with MF industry representative bodies, i.e. the Indonesia Access to Finance Association (PAKINDO) in establishing the Indonesia Responsible Access to finance Forum as a platform in steering RF activities in the Indonesia MF industry. In its turn, that has catalyzed the members (financial and non-financial institutions providing & supporting MF services) to sign-in and start practicing an industry code incorporating RF principles (the RF Charter and its assessment & monitoring framework).


The Site is Going Live in:

-1732Days -8Hours -43Minutes -49Seconds


The agenda is designed to bring the maximum benefit of the team. There are two clearly distinguishable components:  1. Development and Design and 2 Ongoing Support

The Development and Design length depends on the size of the content and the availability of the team in providing content, answering questions and making decisions.

  • Phase 0 Stakeholders, Access Set Up of all softwares, Site Map, Content Gathering, Plan and Estimation
  • Phase 1 First Layer – Basic Digital Presence and Stakeholder Engagement: Design and Logic
  • Phase 2 Content
  • Phase 3 Second Iteration of Design and Content – Integrations with Social Media; Mailing Lists; Newsletter
  • Phase 4 Complete Package Flow and Final Touches
  • Phase 5 Thorough Testing and Go Live

Ongoing Support will be about 4-5 days a month and it will include

  1. Content Updates (publications, news, posts, events, projects, data).  The work includes adaptation to the web, inclusion of images, thumbnails, search engine optimization; but excludes writing new content.
  2. Stakeholder Engagement – Once a Month Newsletter of what is new on the site; Welcome New Members; Answer Questions
  3. Technical Support – maintenance of the website and of the mailing list



The Forum:

  • Drew from the latest data and impact evidence on financial services for low-income consumers in order to inform responsible digital finance policy and practice;
  • Examined industry standards to minimize consumer risks in digital finance, and to share challenges and emerging solutions from the private sector, development partners, and government leaders;
  • Defined the roles and actionable next steps for stakeholders across the pillars of responsible finance (industry, regulation, and consumer) with the support of development organizations; and
  • Identified knowledge gaps, areas for future research, private sector innovations, and areas for collaboration with governments for responsible financial inclusion.

Download the Report


For information on the venue, location, accommodation, transportation and visa requirements please consult the General Information about RFF 2017.

  • Conference Fees: there is no registration fee for the event. We highly encourage participants and speakers to cover their own travel and accommodation expenses.
  • Visa Arrangements: Please note that participants should make their own visa arrangements.  Not sure whether you will need a visa?  Check the Visa Regulations.
  • Travel expenses: We highly encourage participants and speakers to cover their own travel expenses. A limited amount of stipends covering travel and accommodation costs for speakers is available. If you would like to apply, please contact us.
  • Speaker Bio and Photo: please email a high-resolution photo and a 100-word bio to GIZ:
  • Register by April 1st: email GIZ for more details:


Previous Forums

The seventh annual Responsible Finance Forum was held in Xi’an, China. The Topics were Responsible Finance Inclusion and Digital Innovation: Focus on Asia. See this report or the video summary below for more details.

Explore more forums >>>

Join the Community