OJK: The Financial Industry Will Be More Efficient With the Presence of Technology

By : Ridwan And Aldi Firhand. A | Monday, August 20 2018 - 21:32 IWST

Ketua Dewan Komisioner OJK, Wimboh Santoso (Foto Ist)
Ketua Dewan Komisioner OJK, Wimboh Santoso (Foto Ist)

INDUSTRY.co.id - Jakarta, Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Wimboh Santoso said that currently innovations related to technology not only change the technology industry. Moreover, technology has changed human daily behavior.

"Innovation is one thing that we cannot deny, in the industry the progress is very rapid. Inevitably we have to optimize the presence of technology, meaning that we have to change the business process and work system," he said in the Initial Launch of the Financial Services Authority Finctech Center which was launched early in the guesthouse Mulia 2, Jakarta, Monday (08/20/2018).

In fact, added Wimboh, in daily life in OJK, currently the supervision process with technology is far more effective.

"We don't send too many people, with technology can be more effective. Even our dreams we will have our own buildings and become the most advanced digital office in Indonesia," he said.

Regarding financial technology, Wimboh Santoso said that innovation was now carried out not only by digital start-ups, but even banking and financial service providers also began to develop services with the use of technology.

"This fintech is broader than that. With the technology, it can cover more customers with a fast time. There is a growing branchless banking or banking agent. In the future the opening of a physical branch office will no longer exist," he said.

According to the Chairman of the OJK Board of Commissioners, his party is preparing to deal with the change.

"We welcome, even if there are those who think the employees at the branch want to do, we are anticipating it," he explained.

Wimboh Santoso said that the financial industry would be more efficient with the presence of technology. "The task of OJK with the presence of technology we expect the financial industry to be more efficient. Customers prefer it because the process is fast, transparent and costs are cheap," he said.

Therefore, Wimboh expects fintech developers to make breakthroughs and provide benefits to the community.

"If the cost of fintech is equal to banking, it will not sell. We have issued a rule that essentially fintech is a benefit for the community," he said.

The rules of the OJK issued last week, explained by the Chair of the Board of Commissioners include the provision of services that must be transparent, no abuse, accountability or someone responsible, and refer to the financial services sector.

In an effort to build a fintech ecosystem in Indonesia, OJK Infinity enables stakeholders from the financial and banking industry, digital start-ups, and ministries and institutions to discuss, conduct research, counseling related to developing financial initiatives that are safe, reliable and beneficial for the people of Indonesia.

News Comment

Today's Industry

Uli Silalahi, the President Director of Big Bad Wolf Indonesia, is in The International Book Bazaar 2023

Sabtu, 27 Mei 2023 - 03:53 WIB

BBW Jakarta 2023 Presents New Collection of Books, Experiences and Collaborations

The International Book Bazaar “Big Bad Wolf Books” (BBW) now presents all-new books and exciting experiences with the theme #BACAITUKEREN. BBW Jakarta 2023 meets reading lovers on May 26…

KIOXIA BG6 Series Client SSDs Bring PCIe® 4.0 Performance and Affordability to the Mainstream (Photo: Business Wire)

Jumat, 26 Mei 2023 - 17:00 WIB

Kioxia Introduces New BG6 Series Client SSDs, Brings PCIe® 4.0 Performance and Affordability to the Mainstream

Kioxia Corporation today announced the addition of the KIOXIA BG6 Series to its lineup of PCIe® 4.0 solid state drives (SSDs) – the first product to feature the company’s new 6th generation…

Pablo Malay, Director / Group Chief Corporate Officer and Group General Counsel (credit: Goto)

Jumat, 26 Mei 2023 - 15:50 WIB

Getting to know Pablo Malay, GoTo’s new director

GoTo’s Group Chief Corporate Officer was recently affirmed as a GoTo director during the company’s extraordinary general shareholder meeting on March 2.

President Jokowi received a visit from a US-ABC delegation at the Bogor Presidential Palace, West Java Province, Thursday (25/05/2023). (Photo: BPMI Setpres/Muchlis Jr)

Jumat, 26 Mei 2023 - 14:30 WIB

President Jokowi Receives Visit from US-ABC Delegation

Indonesian President Joko Widodo (Jokowi) received a visit from a delegation from the US-ASEAN Business Council (US-ABC) at the Bogor Presidential Palace, West Java Province, on Thursday (25/05/2023). 

Cabinet Secretariat Pramono Anung appointed Kardwiyana Ukar as Expert Staff for Communications, Cabinet Secretariat, Thursday (25/05/2023), in Jakarta. (Photo: Public Relations of Setkab/Oji)

Jumat, 26 Mei 2023 - 13:45 WIB

Cabinet Secretary Appoints Kardwiyana Ukar as Expert Staff for Communications

Cabinet Secretary (Seskab) Pramono Anung appointed Kardwiyana Ukar as Expert Staff for Communications, Cabinet Secretariat (Setkab), Thursday (25/05/2023) morning.