Promote Financial Inclusion: Cross-Sector Cooperation to Advance Economic Growth in 2024

Jakarta, 24 January 2024 – In early 2024, OY! Indonesia, along with the Indonesian Fintech Association (AFTECH), PT Bank Danamon Indonesia Tbk (Danamon), and Indonesian state-owned bank Bank Rakyat Indonesia remain committed to promoting financial inclusion and cross-sectoral synergy to stimulate economic growth in Indonesia by providing cash and non-cash solutions for business players. This commitment is embodied in the form of financial innovation to meet the various transaction needs of users throughout Indonesia.

Sustainable fintech solution innovation is aimed at serving the Indonesian economy, including digital, cash, bank accounts and non-bank accounts. OY! aims to provide access to financial products and services for businesses in order to boost productivity and cash flow. For this reason, as one of the providers of cash and non-cash payment solutions in Indonesia, OY! continues to strive to make financial transactions easier for all partners, starting from digital transactions using QRIS, disbursement via BI-Fast, to cash transactions via the Cash Deposit Machine.

As payment provider to circulate money nationally, OY! has strategic partners in various industries to expand the reach of financial services and increase financial inclusion. In this case, OY! collaborates with AFTECH as an association for players in the fintech sector and Danamon also BRI as players in the banking sector.

“Innovation in cash and non-cash payment solutions from OY! continues to be developed to provide a safe and integrated transaction experience, optimizing business efficiency and customer transaction flow in Indonesia. As a pioneer of innovation, OY! is collaborating with AFTECH in educating businesspeople and business owners on the use of fintech and implementing appropriate payment solutions for them. OY! collaborating with Danamon and BRI as strategic partners for the availability of financial infrastructure and cash and non-cash solution services," said CEO & Co-Founder of OY! Indonesia, Jesayas Ferdinandus.

Synergy to provide solutions that can be customized to customer's needs

Executive Director of the Indonesian Fintech Association (AFTECH), Aries Setiadi stated, "Fintech development is one of the drivers of economic digitalization in Indonesia. Huge potential in Indonesia's digital economics is supported by equal distribution of infrastructure. This is reflected in the number of internet users which reached 215 million in the period of 2022 - 2023 with 28.98% of users accessing economic, financial, and business content. The increase in fintech adoption can also be seen from the high number of digital payment transactions which can be seen from the value of Electronic Money (EU) transactions which increased 43.45% (YoY) to reach Rp835.84 trillion and is projected to increase 25.77% (YoY) to reach Rp1.051.24 trillion in 2024. Strategic collaboration between OY! together with banking partners Danamon and BRI are game changers to provide integrated payment solutions in building a sustainable economy."

Services of transferring and receiving Money, as well as cash management and expense management that can be the key of business development, especially in increasing business cash flow through real-time settlement.

In light of this condition, Danamon collaborated with OY! Indonesia to present innovation and financial solutions that can help all levels of business meet their needs. Danamon also supports OY! Indonesia by providing bank pooling services that facilitate real-time settlement for cash deposits into OY! Cash Deposit Machine (CDM) to customer accounts. OY! Indonesia has also integrated with Danamon to provide non-cash solutions such as API Central, BI-Fast and QRIS services, enabling customer to transfer and receive their funds in a fast, pleasant, and secured manner.

"Danamon will always strive to create an inclusive economy for all levels of society in Indonesia and collaborate with various parties across sectors to answer customer needs. Through strategic collaboration with OY! Indonesia, we hope that we can promote the expansion of the national financial inclusion program by reaching Indonesian people who have not been touched by the formal financial system," said Transaction Banking Digital & Customers Experience Head PT Bank Danamon Indonesia Tbk, Indradi Patmawidjaja.

Echoing a similar sentiment, Director of Wholesale and Institutional Business of PT. Bank Rakyat Indonesia (Persero) Tbk. Agus Noorsanto considered that collaboration with various sectors can be a defining step in the bank’s development.

"The advancement in digital service system and followed by innovative solutions from the existing collaboration has brought an impact on bank services that are more practical and efficient. BRI, with its commitment to maintaining the security of customer data, continues to play an active role in anticipating risks that could happen to customers," he explained.

Cooperation between OY! with BRI is realized through the provision of BRIVA, whch aims to encourage the growth of one of the largest third-party logistics in Asia. The presence of BRIVA also creates innovation in cash management owned by the company, which the cash obtained will be deposited through BRIVA. On top of that, the increase in money transfer activities carried out by the public means that the availability of money transfer services in Indonesia has also increased. There are various types of money transfer services in Indonesia such as via mobile banking, internet banking, ATMs, bank tellers, or via conveience stores.

To that end, OY! Indonesia facilitates BRI by providing a Cash Deposit Machine (CDM) for Indomarco as a cash deposit solution that is available 24/7 in the office areas and provides real-time settlement. With cash management innovation through CDM from OY! Indonesia, the Indomarco company's cash flow is expected to increase and create more productivity.

It is also hoped that cross-sector collaboration and synergy will promote financial inclusion and increase the number of businesspeople who carry out effective financial management, potentially bringing an impact on the progress of economic growth in Indonesia.




For media inquiries, please contact:


Tarida Fransiska

Corporate Communications Manager

PT Bank Danamon Indonesia Tbk


Cindyani Lasmana

Corporate Communications Head

PT Bank Danamon Indonesia Tbk