<![CDATA[This study investigates the key factors influencing the competitiveness of wealth tech firms in Indonesia, a sector that remains underdeveloped compared to global counterparts such as Toss, SoFi, Ping An. While global players leverage integrated platforms and internal data capabilities to drive user loyalty and value creation, Indonesian wealth tech companies primarily function as digital distribution channels. Using a combined approach of Porter’s Diamond Model, Value Rarity Inimitability Organization (VRIO) analysis, and Structural Equation Modeling Partial Least Squares (SEM PLS), this research analyzes data from 317 financial industry respondents. Results reveal that only two internal resources existing customer base and corporate branding offer sustainable competitive advantages. External factors such as government regulation, supporting industries, and firm strategy also significantly shape competitiveness, though internal innovation, data integration, and personalized user engagement remain limited. The findings highlight the need for Indonesian wealth tech firms to invest in organizational readiness, ecosystem collaboration, and regulatory engagement to transition from support platforms to fully autonomous digital financial ecosystems. This study offers theoretical and practical implications for enhancing strategic positioning within Indonesia’s digital finance sector.]]>
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