No. 27/260/DKom
Digital innovation is a key driver of strengthening digital economic and financial transformation in Indonesia. Effective innovation is not only a matter of technological sophistication, yet also concerns relevance, affordability and ease of implementation. Frugal digital innovation utilises digitalisation to create appropriate, efficient and implementable solutions. This form of innovative support creates inclusive and sustainable digital transformation based on domestic strengths. That was the key takeaway and spirit of the third day of the Indonesia Digital Economy and Finance Festival and Indonesia Fintech Summit Expo (FEKDI x IFSE) 2025 in Hall B of the JICC in Jakarta (01/11/25).
The Governor of Bank Indonesia, Perry Warjiyo, emphasised that innovation is a key pillar of the Indonesia Payment System Blueprint (BSPI) 2030 to create a fast, convenient, affordable, secure, reliable and inclusive payment ecosystem. Payment system innovation by Bank Indonesia is focused on increasing efficiency and inclusivity, efforts to strike an optimal balance between innovation, risk management and consumer protection, as well as development of the Digital Innovation Centre (DIC) as a space for collaboration between the regulator, government, research institutions, academia and the industry. DIC will support the development of globally competitive digital innovation and strengthen digital talent, which is expected to bolster labour absorption.
The Coordinating Minister for Food Affairs, Zulkifli Hasan, remarked that technological mechanisation plays a key role in fostering innovation in the food sector. National development depends on a country's ability to manage resources and increase productivity. Echoing those sentiments, Governor Perry also emphasised that frugal innovation is key to bringing producers and consumers closer together through value chain optimisation. In the agricultural and food sectors, frugal innovation shortens supply chains, thereby boosting productivity and efficiency. “The costs are very low and increase economic productivity. From farmers to consumers, prices are also low. We are overcoming various limitations through frugal innovation, namely through digitalisation."
The third day of FEKDI x IFSE 2025 also featured a Casual Talk session, entitled Artificial Intelligence and Frugal Innovation: A New Road to Inclusive Economic Empowerment. Opening the discussion, the Deputy Governor of Bank Indonesia, Juda Agung, reminded the audience that, currently, not only is high-tech required but also the right-tech. A combination of advanced artificial intelligence (AI) and frugal innovation that focuses on basic needs is a new formula for inclusion. When AI and frugal innovation combine in synergy – with AI as an agent for analysing financial activities and community needs, and innovation providing accessible channels – affordable and personalised local financial services can be created. “Inclusive digitalisation is not a matter of the most sophisticated superchips or algorithms; it is about heart and empathy, about using technology to touch and ameliorate human life. Let us build a financially inclusive Indonesia," urged Deputy Governor Juda.
The winners of QRIS Jelajah Budaya Indonesia (QJI) 2025 and BI–OJK Hackathon 2025 competitions were also announced on the third day of the flagship FEKDI x IFSE 2025 event. QJI 2025 is a competition with a mission to expand the acceptance of digital payments, while promoting local cultures nuanced with creativity from the younger generation. The competition not only expands the use of digital transactions but also encourages the younger generation to learn more about and appreciate Indonesian culture. The competition has become more popular with the public, with the number of participants this year reaching 8,278 entrants from all regions of the Indonesian archipelago, up significantly from 6,618 last year. The winners of QJI 2025 were Tolusan – Sumatra Region, Pakanjara – Sulampua Region, The Projector – Java Region, Trilogy – Balinusra Region, and QRISPi – Kalimantan Region.
BI-OJK Hackathon 2025 is a collaborative competition organised by Bank Indonesia and OJK that invites innovators to create practical solutions to address the needs and challenges of the financial sector. This annual competition aims to answer three problem statements, namely AI as a Service for Digitally Delivered Services Exports; Financial Innovations & Public Services; as well as Risk Management & Consumer Protection. The Hackathon is not just a competition, but also an effort to develop innovative and competitive digital talent in the country towards Golden Indonesia 2045. A total of 2,336 contestants registered for the BI-OJK Hackathon in 2025, with 743 innovative proposals received, up from 457 proposals in the previous year. In the professional category, the BI-OJK Hackathon 2025 winners were Dewantara, Meaningful Intelligence, and Niriksagar, alongside MTAF Impact, KancaKids, and Chain Intelligence in the student category (Appendix).
Closing FEKDI x IFSE 2025, Senior Deputy Governor of Bank Indonesia, Destry Damayanti, expressed her appreciation for the support and commitment of all stakeholders in terms of economic and financial digitalisation in Indonesia. The event was not just a collaborative effort between Bank Indonesia, OJK and the Coordinating Ministry for Economic Affairs, but also the tangible manifestation of the 'Whole of Nation' approach, with collaboration between the authorities, industries, academia and the community. This year's event served as a springboard for broader collaboration, involving the participation of the Coordinating Ministry for Infrastructure and Regional Development, the Coordinating Ministry for Community Empowerment, the Coordinating Ministry for Food Affairs, the Ministry of Home Affairs, the Ministry of Communication and Digital Affairs, the National Development Planning Agency, and other authorities, as well as various financial sector associations. Let us continue supporting synergy, innovation and policy initiatives in the development of a digital economy and finance ecosystem, working together towards a Golden Indonesia in 2045.
Jakarta, 1st November 2025
Communication Department
Ramdan Denny Prakoso
Executive Director
