Existing barriers to ensuring financial inclusion have been accessibility, affordability and awareness, but the rapid economic growth of ASEAN countries, with Indonesia as a prime example - 5% GDP growth in 2019
alone and a drop in national poverty headcount from 19.1% in 2000 to 9.8% in 2019
– has suggested there is cause for optimism. Combined with the exponential growth of smartphone penetration across the region – 663 million potential new mobile internet users
across Asia-Pacific by 2025 and an estimated 44% of account owners
in developing countries already using digital payments – and there appears to be an enormous opportunity for expanding financial services for all.