The Challenge
Privy, Indonesia's leading digital trust provider, has revolutionised secure digital identity solutions with over 50 million onboarded customers and partnerships with 4,000+ companies. Holding approximately 70% of Indonesia's digital identity market, Privy's technology ensures verified authenticity through light biometrics and integration with national ID systems.
After rapid success in Indonesia, Privy sought to expand internationally to Australia, but faced significant challenges. While digital identity solutions were gaining traction globally, the market was dominated by major players such as DocuSign, which lacked strong verification mechanisms. Privy sought to introduce a more secure alternative, but navigating the Australian regulatory environment, securing partnerships, and establishing local operations required expert guidance.
The Solution
After being introduced to Privy Founder and CEO, Marshall Pribadi, through a mutual connection in 2022, David Widjaja invited Marshall to attend the IndOz Conference in Brisbane. Immediately, David recognised Privy's potential for international growth and soon after, he was engaged as a Corporate Advisor to Privy in early 2023, directly assisting with strategic market entry into Australia.
In July 2023, Privy inaugurated its Australian office in Sydney, a milestone event attended by Indonesian Minister of Trade Zulkifli Hasan and representatives from the NSW Investment Office. This made Privy the first Indonesian digital trust company to expand internationally.
David, leveraging his extensive network and experience in Indonesian-Australian business relations, played a pivotal role in facilitating Privy's expansion. DWC International facilitated key introductions, including high-level discussions with government agencies, business leaders, and technology firms. This included arranging meetings and fostering partnerships with Wave CRM and Five Faces, both have since started the integration of Privy's technology into their platforms.
Impact
To date, Privy's journey from an Indonesian startup to an international digital identity leader exemplifies the power of strategic advisory and strong partnerships. The successful expansion of Privy into Australia has had a transformative impact on both the company and the broader digital identity landscape, which includes:
- First Indonesian Digital Trust Provider to Go Global: Privy set a precedent as the first Indonesian digital company to establish a physical presence overseas, strengthening Indonesia's position in the global tech ecosystem.
- Enhanced Security in the Digital Identity Space: By introducing a secure and verified alternative to existing digital signature solutions, Privy is addressing key challenges such as identity fraud and scams, benefitting businesses and individuals alike.
- Strengthened Industry Relations: David's role in engaging with key Australian institutions positioned Privy as a trusted player in the market, and CEO, Marshall Pribadi, as a Founder who embodies South East Asian business success. The latter has seen Marshall be invited by the Department of Prime Minister and Cabinet to attend the ASEAN-Australia Special Summit 2024 in Melbourne on 4-6 March 2024, and attend the CEO Forum, to be involved in advancing shared policy interests, deepen networks across the region and strengthen cooperation.
- Sustainable Growth Pathway: With ongoing collaborations with Australian businesses, Privy is well-positioned for long-term success and potential public listing.
With DWC International as a Corporate Advisor, Privy continues its expansion in the Australian market, paving the way for further global expansion.
In the Media
Australian Government Hails Digital Trust Provider Privy's Entry Into Australian Market
Australian Associated Press
26th July 2023
FiveFaces
22nd August 2024
Prime Minister of Australia, The Hon Anthony Albanese MP
1st March 2024