According to the source, this section describes how the Open Finance market size estimation is calculated. To do this, some assumptions are made:
1) having a specific time period for data retention and companies having to renew their data connection within that period
2) how often data access is renewed per year is measured by the velocity - for example, if data access has to be renewed once every month, then the velocity is 12
3) the fees are the assumption fees for the Open Finance services, which the assumed exchange rate used is 1 USD = IDR 15,000.
The data used to make these calculations comes from various sources, including OJK, BI, BPS, LPS, CEIC, Databoks, media interviews, and data from industry leaders.
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Verification (e-KYC) market value estimation Indonesia 2022, by industry
In 2022, the estimated market value for verification (e-KYC) from banks was over *** million U.S. dollars. The same survey found that approximately millions new bank accounts were created in Indonesia in that year.
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Katadata. (November 23, 2022). Estimated market value for verification (e-KYC) in Indonesia in 2022, by industry (in 1,000 U.S. dollars) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 28, 2026, from /statistics/1370953/indonesia-verification-e-kyc-market-value-estimates-by-industry/
Katadata. "Estimated market value for verification (e-KYC) in Indonesia in 2022, by industry (in 1,000 U.S. dollars)." Chart. November 23, 2022. ÌÇÐÄÆƽâ°æ. Accessed July 28, 2026. /statistics/1370953/indonesia-verification-e-kyc-market-value-estimates-by-industry/
Katadata. (2022). Estimated market value for verification (e-KYC) in Indonesia in 2022, by industry (in 1,000 U.S. dollars). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 28, 2026. /statistics/1370953/indonesia-verification-e-kyc-market-value-estimates-by-industry/
Katadata. "Estimated Market Value for Verification (E-kyc) in Indonesia in 2022, by Industry (in 1,000 U.S. Dollars)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 23 Nov 2022, /statistics/1370953/indonesia-verification-e-kyc-market-value-estimates-by-industry/
Katadata, Estimated market value for verification (e-KYC) in Indonesia in 2022, by industry (in 1,000 U.S. dollars) ÌÇÐÄÆƽâ°æ, /statistics/1370953/indonesia-verification-e-kyc-market-value-estimates-by-industry/ (last visited July 28, 2026)
Estimated market value for verification (e-KYC) in Indonesia in 2022, by industry (in 1,000 U.S. dollars) [Graph], Katadata, November 23, 2022. [Online]. Available: /statistics/1370953/indonesia-verification-e-kyc-market-value-estimates-by-industry/
