Canada    FinTech Guide    Chapter 14    Indonesia

14. RegTech
Indonesia  Indonesia

There is no information on the social and political climate towards RegTech services in Indonesia.

Legal Affairs

Up to this date, there are no specific regulations, obligations and requirements with respect to RegTech in Indonesia.

Therefore, a fintech company conducting this business will only need to comply with general business license (e.g. certificate of domicile, company’s certificate and trading business license, as relevant) in Indonesia.

However by considering the procedures as stated in BI Regulations on Fintech and should the business player deems its business model can be considered as “Financial Technology”, it is possible for them to firstly register to BI as financial technology operator and follow the determined procedures i.e. registration and Regulatory Sandbox.

Please see detailed explanation on Part “1. Payment Service / Mobile Payment”, particularly on “Legal Affairs” part.

Economic Conditions

The market for this type of business is relatively small and not common in Indonesia.


Since this area has not yet been regulated specifically, to the best of our knowledge, the availability of this type of business is relatively small and not common in Indonesia. The government will likely take the view that there is no urgency to further regulate this type of business.

Contributing Authors

Armand Yapsunto Muharamsyah & Partners (AYMP)

Arie Armand
Jakarta, Indonesia

Richard Yapsunto
Jakarta, Indonesia

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Chapter Index:

1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 May 2018