Fintech talent crucial to inclusive, sustainable sector growth
JAKARTA, 24 February 2022 – As Indonesia’s fintech industry continues to innovate faster than ever, and post-pandemic market trends show signs of consolidation, companies in the sector are relying on top talent to provide a competitive edge. Through its focus on skills for recovery, the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) is providing opportunities to close the current digital skills gaps in the fintech industry in Indonesia.
The skills shortages commonly found in the sector relate to machine learning, deep learning, artificial intelligence, cybersecurity, programming, and a range of soft skills. To maintain competitiveness, Indonesian fintech firms are addressing these skills gaps, along with efforts to enhance capital, policy, and infrastructure. That was one the key takeaways from a discussion on ‘Fintech Skills for the Future’ held by the IA-CEPA Economic Cooperation Program Katalis on Thursday (24/2).
In his speech at the event, Executive Director of the Digital Finance Innovation Group at the Indonesian Financial Services Authority (OJK) Triyono Gani highlighted the need to develop local digital talents, for which the demand is predicted to reach around nine million between 2015 and 2030, to catalyse the economy and drive financial inclusion, as well as address disconnection, delays, and inefficiencies. Noting that the growth of the fintech sector in Indonesia will continue to expand, the OJK is proactively working with other stakeholders to create an environment that would enable Indonesia to be a leader in the fintech industry in the region.
Enabled by the IA-CEPA, Indonesia and Australia are continuing to explore collaborations in skills in the digital economy as part of the strategy to build a sustainable recovery. Fintech is a key part in this recovery led by the digital economy.
“From what we have observed throughout the pandemic, the fintech sector in Indonesia has continued to show resilience and adaptability. We also see in this sector a complementarity with Australia, known for its expertise in financial services and technology innovations. By working together, we seek to deliver high performance skills that can contribute to inclusive, sustainable growth,” said Paul Bartlett, Director of IA-CEPA Economic Cooperation Program Katalis.
Among the speakers at the ‘Fintech Skills for the Future’ event were Vice Chairman I of the Indonesia Fintech Association (AFTECH) Karaniya Dharmasaputra, Trade and Investment Commissioner of Austrade Indonesia Lauren Adams, Australian fintech founder and investor Stuart Stoyan, Bibit and Stockbit.id Human Resources Manager Jhohanes Silalahi, Asian Development Bank Institute Consultant Eric A. Sugandi, Melbourne Polytechnic IT Lecturer Dr. Fahri Benli PhD, and Indonesia Services Dialogue Council Executive Director Devi Ariyani.