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

Gov provided several incentives for encourage more people to buy electric cars

Selasa, 28 November 2023 - 22:03 WIB

Government Incentives for Encourage People to Buy Electric Cars

Deputy Minister of Trade, Jerry Sambuaga attended the Inbuyer Electric Vehicle (EV) Expo 2023 which took place in Jakarta, Tuesday (28 Nov). In his remarks, the Deputy Minister of Trade said…

Trade Minister Reviews Bapok Prices in Pasar Baru, Gresik, East Java

Selasa, 28 November 2023 - 21:55 WIB

Trade Minister Reviews Bapok Prices in Pasar Baru, Gresik, East Java

Minister of Trade, Zulkifli Hasan reviews prices of basic necessities (bapok) at Pasar Baru, Gresik, East Java, Tuesday (28 Nov). This review is the government's anticipation in facing Christmas…

Minister of Trade, Zulkifli Hasan visited the construction of the PT Freeport Indonesia Smelter in Gresik, East Java

Selasa, 28 November 2023 - 21:50 WIB

Minister of Trade, Zulkifli Hasan visited the construction of the PT Freeport Indonesia Smelter in Gresik, East Java

Minister of Trade, Zulkifli Hasan visited the construction of the PT Freeport Indonesia Smelter in Gresik, East Java, Tuesday (28 Nov). The Minister of Trade said that the construction of this…

Opening Ceremony of OCTF 2023

Selasa, 28 November 2023 - 21:46 WIB

Increased by 156%, The value of Chinese investment in Indonesia Will Reach USD8.2 billion

Deputy Minister of Trade, Jerry Sambuaga gave a speech at the 3rd Opening Ceremony of the OCTF 2023 Intelligent Technology Exhibition which was held at JIEXPO Kemayoran, Jakarta, Tuesday (28…

Indonesia Showcases Premium Halal Products in Turkey

Selasa, 28 November 2023 - 21:33 WIB

Indonesia Showcases Premium Halal Products in Turkey

Indonesia has once again showcased its premium halal products at the world's largest international halal exhibition, the 10th Halal Expo 2023, organised by the Organization of Islamic Cooperation…