On March 18, KUMPUL deepened its global connection through Global Market Insights: Indonesia and the UK, bringing together nine key leaders, investors, and ecosystem experts to explore business trends and expansion strategies across both nations. The session featured high-level voices including Desra Percaya (Indonesian Ambassador to the UK), Russ Shaw (Founder of Global Tech Advocates), Faye Wongso (Chairperson of KUMPUL), Mia Aulia Gaswara (VP of Program, KUMPUL), Siti Tiefryani Fahiyah (Director of IIPC), Nathaniel Manungsong (Managing Partner, Adrem Law), Sarah Lau (Head of China and ASEAN Desk, Irwin Mitchell), Colin Tan (Director of Operations, TusPark UK), and John Spindler (General Partner, Twin Path Ventures). This gathering set the stage for deeper discussions on how fintech and green tech are shaping the future of Indonesia – UK collaboration.

Indonesia has long been recognized as one of Southeast Asia’s largest digital markets, with a thriving startup ecosystem and a rapidly expanding consumer base. Meanwhile, the United Kingdom stands as a global financial hub and a leader in green technology innovation. As both nations strengthen their bilateral ties, two sectors emerge as strategic gateways for collaboration: fintech and green tech.

It’s no longer just about trading nickel, footwear, or textiles. The game is changing, now it’s about sharing innovation, attracting capital, and exchanging expertise. The real goal? Creating a future where financial inclusion grows hand in hand with clean, sustainable energy.

Indonesia’s Fintech Expansion Opens Doors for UK Collaboration

Indonesia ranked second in Southeast Asia for fintech funding in 2024, securing USD 242 million, equivalent to 15% of total regional investment. This strong momentum is underpinned by a young, digital-savvy population and a still-massive untapped market: nearly 97.74 million Indonesians remain unbanked, accounting for 48% of the population according to the World Bank.

Digital payment transactions alone reached 34.5 billion in 2024, growing 36.1% year-on-year, with DANA, GoPay, and ShopeePay leading the charge. Digital lending has also seen remarkable growth, with loans disbursed reaching IDR 978 trillion as of November 2024, a 40.42% year-on-year increase, while maintaining a low non-performing loan rate at just 2.38%.

Regulators are also playing catch-up to maintain market stability. Otoritas Jasa Keuangan (OJK) issued POJK 40/2024 to strengthen governance and risk management within the fintech industry.

This growing momentum creates a clear opportunity for the United Kingdom to step in as a valuable partner. With its well-established financial sector, strong regulatory expertise, and experience in cross-border innovation, the UK is well-positioned to help shape Indonesia’s next phase of fintech growth. From guiding compliance standards to boosting investor confidence and developing inclusive financial services, UK collaboration could play a major role in reaching millions of Indonesians who remain unbanked.

Powering Indonesia’s Clean Energy Transition

On the sustainability front, Indonesia’s green technology market was valued at USD 4.23 billion in 2023 and is projected to reach USD 5.4 billion by 2025, with a CAGR of 24.4%. Yet, renewable energy still accounts for less than 10% of the national energy mix, with biodiesel dominating the share.

New capacity added in 2023 was a modest 1 GW, far from the government’s ambitious targets. However, the startup ecosystem is beginning to diversify, with players emerging in solar energy, waste-to-energy solutions, biofuel, micro-hydro projects, and energy storage technologies.

The leading players include Xurya, which has secured international funding for solar projects, SUN Energy, backed by major investors like TBS Energi Utama, and Energia Prima Nusantara, an active solar project developer.

The UK is well-equipped to play a meaningful role in this transition. As a long-time leader in renewable energy and green finance, it offers the technology, capital, and institutional expertise needed to help Indonesia move faster toward clean energy adoption. Through strategic collaborations, whether in the form of public-private partnerships (PPPs), green bonds, or direct investments, both countries can align their climate goals with tangible progress on the ground.

From Traditional Trade to Technological Exchange

The Indonesia-UK partnership is evolving beyond conventional trade channels. In fintech, opportunities lie in integrating Indonesia’s QRIS payment standard with international systems, Bank Indonesia has already taken steps to expand to Southeast Asia and Japan. The UK could enhance this effort by supporting standardization and security for cross-border transactions.

In green tech, the formula is straightforward: the UK provides advanced technology and financing models, while Indonesia offers a vast and growing market with high energy demand. Both nations can collaborate on pilot projects, investment incentives, and scalable renewable energy infrastructure.

This bridging of strengths represents a paradigm shift, from exporting raw materials and manufactured goods to co-developing solutions that are high-value, innovation-driven, and future-oriented.

Building a Sustainable and Inclusive Future

Fintech and green tech are more than just growth sectors; they are instruments of transformation. Fintech can bring millions of Indonesians into the formal economy, fostering financial inclusion and economic resilience. Green tech can propel the country toward a cleaner, more sustainable energy future.

For the UK, this partnership represents access to one of Asia’s most dynamic markets, while contributing to its global agenda for sustainable development and digital finance innovation.

Now is the time for investors, regulators, and startup ecosystems from both nations to step forward, building not just trade partnerships, but a collaborative framework where innovation and sustainability drive mutual growth.

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KUMPUL accelerates growth by connecting entrepreneurs with strategic networks, exclusive resources, and expert insights. As Indonesia’s leading entrepreneurship ecosystem enabler, KUMPUL strengthens local communities while facilitating two-way global market access, helping international businesses tap into Indonesia’s dynamic ecosystem and supporting local entrepreneurs in expanding worldwide. Through impactful collaborations with key industry players, KUMPUL empowers entrepreneurs to scale efficiently, compete globally, and drive meaningful impact.

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