OJK And Kemenkominfo Agree On Cooperation To Strengthen Digitalization Of Financial Sector

Illustrations (Irfan Meidianto/VOI)

JAKARTA - The Financial Services Authority (OJK) together with the Ministry of Communication and Information (Kemenkominfo) are working together to strengthen digitalization in the financial services sector.

Chairman of the OJK Board of Commissioners, Wimboh Santoso, said this synergy was intended to expand services while protecting the public and supporting national economic growth.

"The implementation of digital transformation must start by building a complete and integrated digital financial ecosystem, which consists of digital infrastructure, digital literacy, consumer understanding, digital MSME development, and government support through accommodative policies," he said in a written statement, Friday, 27 August.

According to Wimboh, the authorities support the development of digitalization in the financial sector. This is because, apart from meeting the needs of the community and the financial services industry, the agenda can also increase inclusion and improve community welfare.

"The main focus is on building adequate and equitable digital infrastructure, not only for urban communities but also for rural communities, so that digital services can be enjoyed by all people easily, cheaply, and quickly," he said.

On the same occasion, Minister of Communications and Informatics Johnny G. Plate explained that digitalization of the financial sector has been included in the 10 priority sectors for the development of the digital economy in Indonesia.

He said, this sector not only needs to anticipate the emergence of disruption and innovation from various new fintech players, but also needs to look at the potential needs for innovative and competitive financial products.

“The digital economy has great potential to be developed such as in fintech, online banking, internet banking, and digital banking. This can all be achieved through the acceleration of digital infrastructure development, data management arrangements and electronic transactions, and the development of digital human resources carried out by the Ministry of Communication and Information," he said.

Based on data released by the Ministry of Finance, it is stated that in the 2022 RAPBN the government plans to build 2,344 signal transmitting towers (BTS) in frontier, remote, and disadvantaged (3T) areas as a form of information technology infrastructure development.