This study aims to delve deeper into the discussion on how the ﬁnancial inclusion progress in Indonesia could be affected by the growing ﬁntech industry. We shall comprehensively discuss the current state of the platforms in the country, including the potential beneﬁts and challenges. Such afﬂictions include the hugely-concentrated deposit market, to begin with and the discrepancies between regulators and the technological changes, while the high internet and mobile phone penetration are only one of the many advantages the country are endowed with. The study aims to highlight the challenges faced in increasing ﬁnancial inclusion before the ﬁntech platforms begin to ﬂourish and how they differ to the current condition. Novel and relevant policy recommendations are also provided in the latter parts of the discussion.