Indonesia's fintech opportunity is well known. The licensing path is where most foreign fintechs actually lose months — and the first reason is structural: there is no single fintech regulator to register with. Bank Indonesia (BI) governs payment systems specifically — e-wallets, payment gateways, remittance, and fund transfers — while OJK (Otoritas Jasa Keuangan), Indonesia's financial services authority, covers nearly everything else: digital banking, insurtech, wealthtech, crypto, BNPL, and P2P lending, largely under the ITSK (Inovasi Teknologi Sektor Keuangan) framework introduced by the 2023 P2SK Law.