KSEI Launches Platform Makes It Easy For Investors To Open Accounts

Capital market illustration (Photo: dock. Antara)

JAKARTA - PT Kustodian Sentral Efek Indonesia (KSEI) launched the Centralized Investor Data Management System (CORES.KSEI) platform. This is in the context of centralizing data and documents of Know Your Customer (KYC).

"CORES.KSEI can make it easier for Financial Services Actors (PJK) and capital market investors in the process of opening accounts and updating data more easily and efficiently," said KSEI President Director Samsul Hidayat at the Main Hall of the Indonesia Stock Exchange, Jakarta, Tuesday.

He explained, CORES. KSEI is a Principles Administration Service platform Recognizing Customers (LAPMN) based on web browsers, so it does not require its own software installation.

"The use of the LAPMN system by PJK only requires additional configurations in their respective personal computers," said Samsul.

To maintain the confidentiality and security of stored investor data, he mentioned CORES. KSEI uses a special non-public network, namely the Integrated Capital Market Network (JTPM) and KSEinet.

Then, the ease of using CORS.KSEI is supported by various data input processes, including through the screen (user interface), upload, and API (host-to-host).

"The development of CORS.KSEI is KSEI's effort to support the acceleration of market deepening through the ease of customer due diligence (CDD) and/or enhanced due diligence (EDD) processes carried out by PJK on customers. Ease of opening accounts is expected to have a positive impact on the growth of the number of investors in the capital market, supported by a digital-based platform," said Samsul.

With CORS.KSEI, he continued, investors no longer need to repeatedly send the same data and documents in the account opening process.

"If investors want to open an investment account in other PJK, then investors and PJK who are KSEI service users can use the data stored on the CORES platform. KSEI," said Samsul.

Samsul explained that all data withdrawn and shared via CORS. KSEI remains safe because the data withdrawal process must obtain investor approval, which can be done in two ways, namely through a link sent to an electronic letter or taking a special passcode from the AKSes facility. KSEI as a form of approval that can be submitted to PJK.

On the same occasion, the Head of the OJK Securities Institute Supervision Department, Ona Retnesti Swaminingrum, said that currently KSEI can use data and/or customer documents that have been registered and have Single Investor Identification (SID).

"With the implementation of POJK 15 of 2023, which is followed by the appointment of KSEI as the organizer of LAPMN, it is hoped that the implementation of CDD and/or EDD can run smoothly, and can support Indonesia's capital market growth," said Ona.

The development of CORRES.KSEI refers to the Financial Services Authority Regulation (POJK) Number 15 of 2023 concerning the Implementation of Principle Administration Services to Recognize Customers issued on August 8, 2023.

According to the regulation, on February 12, 2023 or six months effective since the promulgation of POJK, the Lap system has been implemented by KSEI.