State of Finance apps in Indonesia: 2025 Trends & Insights

As Southeast Asia’s largest economy and the world’s fourth most populous country, Indonesia is uniquely positioned to become one of the region’s leading markets for financial mobile platforms. Fueled by a young, tech-savvy population and surging smartphone adoption, the country’s fintech future is already taking shape in 2025. In this article, we explore the key drivers behind this momentum:

• What are the biggest challenges for Finance apps in Indonesia?
• What are the top Finance apps in Indonesia in 2025?
• What strategies are helping Finance apps stand out in Indonesia’s competitive market?

Top trends shaping Indonesia’s Finance app market

Indonesia’s Financial technology services are scaling fast, and they’re estimated to be worth 20.93 billion dollars in 2025 and projected to grow over 55% to 32.67 billion by 2030 [1]. When it comes to mobile, Finance app downloads hit 578 million in 2024 (up 27.9% YoY), while users spent a staggering 892 million hours engaging with these apps—35.6% more than the previous year [2].

What’s fueling Indonesia’s digital finance growth?

• Economic expansion is driving financial inclusion: As income levels rise and mobile adoption continues to grow, more people are entering the financial system. Government-led efforts around digital onboarding are accelerating this shift. One example is Bank Indonesia’s rollout of the QRIS, an interoperable QR-code standard that lets any e-wallet or banking app scan one code to instantly settle payments with any merchant.
• Mobile advertising keeps gaining momentum: With more Finance apps entering the market, brands are racing to win user attention. This has led to a projected 10% rise in digital ad spend in 2025 [3], adding to the tension in an increasingly competitive space. ‍
• Crypto adoption is increasing the demand for Finance apps: Indonesia’s crypto ecosystem is booming. In 2024, the country recorded a 54% year-over-year increase in Cryptocurrency app sessions [2]. This explosive growth is accelerating demand for Finance apps that support trading, storage, and digital investment, as users look for seamless ways to participate in the decentralized economy.

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Top Finance apps in Indonesia: Market leaders and trends

Indonesia’s Finance app ecosystem is not driven by a single trend but by a layered mix of app categories that meet a range of evolving user needs—from daily transactions to long-term financial planning.

Most downloaded Finance apps in Indonesia

The mix of traditional players (like BRImo, Livin’ by Mandiri, myBCA, and SeaBank) and mobile-first companies (such as DANA, ShopeePay, GoPay, OVO, Akulaku, and Kredivo) reflects a market where users value both convenience and credibility, balancing the speed of technical innovation with the trust built by long-standing financial brands.

Key challenges for Finance apps in Indonesia

• Growth potential meets fragmented audiences: With only 28% of Indonesians using a banking, investment, or insurance app monthly [4], there’s still substantial room for growth in this vertical. But Finance apps face the challenge of serving a highly diverse user base—across financial literacy levels, languages, and device types. This fragmentation makes it hard for platforms to focus on a unified, scalable marketing strategy across the board.
• More apps, tougher competition: Indonesia’s Finance app landscape has expanded rapidly, and by 2024, it was home to 20% of all Fintech companies in ASEAN [5]. With new players entering the space and established apps scaling fast, competition for visibility, credibility, and installs is at an all-time high. Performance channels are increasingly saturated, and users have little patience for generic value props that blur into the noise. ‍
• Creative blind spots: Many Finance apps still run creatives that don’t give users a clear incentive to learn more about the brand. Generic visuals and copy struggle to capture attention in a category as personal—and trust-sensitive—as money. When ads fail to address a user’s specific context or need, they risk banner blindness, low click-through rates, and ultimately fewer conversions.

How the leading Finance apps in Indonesia are driving long-term growth

Deep audience behavior analysis

As competition heats up in the region, focusing on driving downloads is not enough—sustained growth depends on retaining and activating new users. 

That’s why savvy players like JULO and Tokocrypto are segmenting users based on the stage of their journey they’re at and what in-app actions matter most—whether it’s getting them to complete their first conversion after install, encouraging them to try a new service, or winning them back after a period of inactivity. It all starts with mapping behavior across the funnel and building strategies that actually reflect what users need in the moment.

📚Recommended read: Explore how leading Finance companies like JULO and Tokocrypto are encouraging users to try new financial solutions while driving first-time deposits (FTD) and trades. 

Designing creatives that match behavior patterns

Creative execution is still a challenge for many Finance apps. Generic visuals and broad messaging often fail to communicate value or drive action. But once you understand user motivations at each stage, creatives become a key differentiator.

• User-Generated Content (UGC) and social proof work well in awareness and discovery stages, giving users a reason to trust and install the app.

• When users have installed but haven’t converted yet, Tutorial ads that explain the first action in a few simple steps can help unlock that conversion.

• Further down the funnel, for reactivation or incremental conversions, formats that highlight exclusive benefits—like limited-time cashback promos featuring countdowns, or real-time cryptocurrency prices—can drive urgency and relevance.

Mapping new growth channels

One way to stay ahead in a saturated space is by exploring alternative growth channels—and CTV-to-Mobile is a trend that’s gaining ground globally. In Indonesia, few brands have fully embraced it yet, though key players have historically used traditional TV as a performance lever.

Take GoPay’s campaign Selalu Ada Harga Murah, which ran on national TV to drive awareness around everyday savings. Indonesians still spend almost 3 daily hours watching TV [4], but the shift to CTV is accelerating, with 40% of brands already reallocating budget to this channel [6].

Right now, CTV offers a rare window: a full-funnel channel that drives installs and conversions—with the added benefit of real-time tracking via MMPs.

📚Recommended read: Learn why mobile marketers are choosing CTV to drive installs and in-app conversions.

Ready to grow your app?

Indonesia’s Finance app ecosystem keeps on evolving, and the opportunity to reach and retain high-value users is bigger than ever. Want to start driving incremental revenue today? Book a meeting with our team.

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References

[1] MordorIntelligence, 2024.
[2] Sensor Tower, 2025.
[3] GroupM, 2024.
[4] We Are Social & Meltwater, 2025 (Indonesia).
[5] International Trade Administration, 2024.
[6] eMarketer, 2024