About

About RISE

Bridging The Gap To Financial Inclusion

RISE is established as a research, training and consulting institution, focusing on financial inclusion of the underserved—the poor, women, and youth. RISE conducts research on mapping, assessment, product development, and is involved in national level financial inclusion research. RISE research efforts have contributed to the work of international NGOs, government agencies, and international research organizations. RISE also provides training and training of trainers for development agencies and microfinance institutions.

With its in-depth experience, RISE has gained rich understanding on the demographic and geographic challenges of reaching the underserved, as well as their financial and digital profile. This understanding includes a deep insight into the demand side and requirements of the underserved for financial products and services, including digital financial services.

In conducting its research, RISE distinguishes itself by its ability to reach the underserved in both urban and remote rural areas. This experience encompasses various regions of Indonesia, including Eastern Indonesia, with its specific logistical challenges. The experience enables RISE to understand operational barriers, as well as social and cultural hindrances that potentially challenge the effort of reaching the poor.

Our Services

We deliver research, consulting, and training that help governments, institutions, and communities design inclusive financial solutions.

Research

We provide research and consulting to help governments and partners design financial services that are relevant and accessible to underserved communities.

Training

We deliver training programs to build the capacity of governments, NGOs, and local actors in advancing inclusive financial services.

Our Founders

Caroline Mangowal

CAROLINE MANGOWAL, PhD has more than 20 years of experience in the development sector, primarily in the field of microfinance research. After completing her masters and doctoral degree in the Philippines, she worked as a Program Manager and Director for international NGOs in Indonesia. She was the Coordinator of the Monitoring and Evaluation unit of the Mercy Corps Post Tsunami Program in Aceh from 2004 to 2005 and Manager of the Research Unit of the microfinance consulting agency, MICRA from 2008 to 2011. From 2011 to 2015 she worked as a consultant for Microsave to support the development of various microfinance institutions in Indonesia.

Since 2014 she consulted for national survey of Financial Inclusion Insights Indonesia for InterMedia as par t of an eight country Digital Financial Service – Financial Inclusion study. She also served as a microfinance consultant for the World Bank in the research team of the largest credit program in Indonesia, Kredit Usaha Rakyat. In 2015 she founded RISE as a non-profit research and training institution that promotes financial inclusion to reach the underserved, contributing to economic development.

Erlyn Shukmadewi

ERLYN SHUKMADEWI has more than 20 years of experience in the development sector in Indonesia, particularly in the fields of microfinance research, training and development program development, management, monitoring and evaluation. With an economics and accounting background, she has worked in various international NGOs such as Save the Children, Mercy Corps Indonesia, the Canadian Development Agency, and CARE, focusing on economic empowerment and entrepreneurship.

She held the position of training manager and then as acting program director of MICRA from 2007 to 2014 and worked as an independent consultant for various economic development training and research programs. With CARE she led economic empowerment program management and development from 2014 to 2018. She has deep experience in developing modules and conducting training for financial literacy. In 2015, she co-founded RISE to focus on increasing financial literacy and promoting financial inclusion.

Meet The Team

Our team comprises seasoned professionals with deep experience across research, policy, and practice. Drawing from backgrounds in academia, data analysis, and field-based work, they bring both analytical rigor and grounded insight to ensure RISE’s work is thoughtful, credible, and responsive to real-world needs.