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Indonesian Wealth Management Forum 2019 - Highlights - Ivan Jaya

Ivan Jaya of Commonwealth Bank

Oct 20, 2019

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1. What are the challenges and opportunities for this industry?

Video transcript

1. What are the challenges and opportunities for this industry?

Starting with the challenges: there are two or three challenges that we are seeing here. First, is that the level of the knowledge or literacy, in terms of investment. The second, of course, are the number of the financial planners that are limited in the Indonesia: there are predicated to be only 11,000 financial planners in Indonesia. The third, of course, is the education of the regulators, and also the industry practitioners. So, those are the challenges, but the opportunities that are there are massive in terms of the number of the population of Indonesia; we understand that the number of investors is only at 1.6 million as we speak right now, so it's only 0.7% out of the total population. But, the other opportunity is that currently in Indonesia is that there are a lot of super apps, and also the competition has intensified, but the Indonesian people, especially the millennials, they are very savvy with technology. So, we believe, if we reframe the business model correctly, supported by technology, that will help delivering the exponential growth that we are expecting.

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