Strengthen Fintech Lending Ecosystem, AFPI Emphasizes The Importance Of Maintaining Consumer Privacy

Chairman of the Indonesian Data Protection Practitioners Association (APPDI) Raditya Kosasih. (Photo: Aris Nurjani/VOI)

The Indonesian Joint Funding Fintech Association (AFPI) emphasizes the importance of the Personal Data Protection Law (UU PDP) for fintech lending industry players in maintaining data security and privacy in the current digital era.

Chairman of the Indonesian Data Protection Practitioners Association (APPDI) Raditya Kosasih emphasized that with the development of digital technology, personal data protection is becoming increasingly important in the fintech lending industry to maintain the security of personal data, in order to build an innovative, inclusive, and reliable fintech ecosystem.

PDP is not just compliance, but a culture that must be built both in the company and ecosystem, and must start from now on. Keep data, respect customer privacy, to maintain the sustainability of the business itself," he explained in his statement, Wednesday, October 9.

On the same occasion, the Director of Behavior Development and Regulation of Financial Services Business Actors, Education, and Consumer Protection of the Financial Services Authority (PEPK OJK) Rela Ginting emphasized that the application of data protection principles is very important as a business foundation because it can increase trust and comply with applicable regulations, thus creating a safe and sustainable environment for business growth.

"Personal data protection is the basis for trust from the financial services sector. Maintaining consumer privacy is an obligation of the financial services sector," he said.

Meanwhile, the Head of the Legal Bureau of the Ministry of Communication and Information Technology, Teguh Arifiyadi, gave a statement in line, namely that personal data is not an asset, but a mandate that must be maintained properly.

In addition, requiring confidentiality is also the responsibility of data controllers and must ensure that the information is not misused in accordance with the principles of data protection in force.

"Personal data is not an asset, but a mandate, it must be properly maintained in confidentiality. The obligation to keep it from the controlling side", he said.