Bank Indonesia (BI) hopes that the younger generation will be smarter in managing finances because there are many digital technologies with various payment instruments.

Director of the Communications Department of Bank Indonesia Junanto Herdiawan said that the younger generation is a critical economic player for Indonesia. However, most of them are still financially vulnerable and literate to financial products.

"Millennials are still easily influenced by invitations from people such as influencers to choose financial products, which are not necessarily suitable for themselves and their needs. Therefore, payment fintech players who also accommodate transactions ranging from short loans or paylater, insurance, to investment, hope to continue to actively increase millennial literacy regarding these financial products," he said in his statement in Jakarta, Thursday (29/7).

According to Junanto, various innovations carried out by fintech players,