BI Boss Says Frugal Innovation Is The Key To Indonesia's Digital Economy Efficiency

Indonesian And Indonesia Fintech Digital Financial Economy Festival Summit Expo 2025 (FEKDI x IFSE 2025), (Bank Indonesia)

JAKARTA - The Governor of Bank Indonesia, Perry Warjiyo, emphasized that innovation is one of the main pillars of the 2030 Blueprint Indonesian Payment System (BSPI) in realizing a fast, easy, cheap, safe, and reliable payment ecosystem as well as inclusive.

He added that the development of payment system innovation by Bank Indonesia was focused on increasing efficiency and inclusiveness.

According to him, efforts to maintain a balance between innovation, risk management, and consumer protection, as well as the development of the Digital Innovation Center (DIC) are the center space for collaboration between regulators, governments, research institutions, academics, and industry.

"DIC will support the development of global competitive digital innovation and also the strengthening of digital talent which is expected to support employment," he said in his statement, quoted on Sunday, November 2.

Perry also explained that frugal innovation is the key in bringing producers and consumers closer through optimizing the value chain.

He added that in the agricultural and food sectors, frugal innovation shortens supply chains, thereby increasing productivity and efficiency.

The cost is very low and increases our economic productivity. From farmers to consumers the price is also low. We break various limitations through fruit innovation, namely through digitalization," he said.

MONADA, Deputy Governor of Bank Indonesia, Juda Agung said that currently what is needed is not only high-tech technology but also right-tech (exact technology).

According to him, the combination of sophisticated artificial intelligence (AI), with fruit innovation which focuses on basic needs, is a new formula for inclusion.

He added that when AI and February innovation synergize, AI as agents of financial activity analysis and community needs with fruit innovation that provides accessible channels for the community can create affordable and personalized local financial services.

Inclusive digitalization is not about having the most complicated superchips or algorithms. It's about having heart and empathy. It's about using technology to touch human life and glorify humans. Let's build a financially inclusive Indonesia", said Juda.