OJK Increases Digital Financial Literacy

JAKARTA - Chief Executive of the Financial Sector Technology Innovation Supervision, Digital Financial Assets, and Crypto Assets of the Financial Services Authority (OJK) Hasan Fawzi said, OJK continues to encourage the development of technological innovation in the financial sector and increase digital financial literacy for the public, including students.

Students have ideas that go out-of-the-box in designing digital-based financial products and services to provide solutions to problems in the financial sector. In addition, students can become influencers in encouraging others to use financial products and services," Hasan said in Jakarta, Saturday.

This was conveyed by Hasan in the Digination: Digital Financial Literacy activity which was held at the Islamic University of Makassar, South Sulawesi.

He said that as an active technology user with a high level of adaptation, students have an important role in encouraging innovation in the financial sector.

According to him, a good understanding of digital innovation and finance is the key in ensuring that people can use digital financial products and services wisely.

"The higher the level of digital financial literacy, the greater the ability of the public to recognize risks that may arise when using digital financial services, so that people can make the right decisions and steps in using digital financial services," he said.

Based on data from the Institute for Development of Economics and Finance (INDEF) 2023, Indonesia's digital literacy index has only reached 62 percent and the lowest compared to ASEAN countries, which averaged 70 percent.

Meanwhile, the OJK National Literacy and Financial Inclusion Survey (SNLIK) survey in 2024 stated that Indonesia's financial literacy and inclusion index only reached 65 percent and 75 percent.

In order to increase innovation and digital financial literacy, OJK has issued several initiatives to improve digital skills for all lines of society.

These initiatives include formulating and disseminating modules related to the initiative of Digital Financial Literacy for the community, developing the Financial Innovation Center OJK in an effort to increase the number of innovations in the financial sector, and facilitating consultations related to the development of the Financial Sector Technology Innovation (ITSK) industry.

The 2024 Digination is a series of annual activities held in various regions in Indonesia, with the aim of introducing digital financial innovation to the wider community, especially the younger generation, to be actively involved in developing technology-based financial solutions.