Aftech: Fintech Companies Should Strengthen Personal Data Protection Systems

JAKARTA - Deputy Chairperson IV of the Indonesian Fintech Association (Aftech) Marshall Pribadi emphasized the importance of protecting personal data and cybersecurity in today's digital era.

"Maintaining privacy and personal data security is a top priority so that fintech companies should strengthen their personal data protection system for consumers," Marshall said in a statement in Jakarta, quoted from Antara, Sunday, November 26.

Meanwhile, Marshall continued, in managing cybersecurity, a company also requires a holistic view.

"So all elements in the company must be aware of their respective cyber security," he said.

The CEO of Privy said that the use of certified electronic signatures and digital identities to secure financial transactions and agreements in the digital world is one way to ensure cybersecurity.

According to Marshall, the use of one identity and password will increase security as it reduces the number of credentials that must be known and stored.

In addition, this can minimize the risk of leakage of personal information during digital activities for businesses and in daily life.

Privy as one of the certified electronic signature startups in Indonesia and Aftech members participated in the National Fintech Month (BFN).

Privy provides education about the importance of digital identity and secure, legal, and reliable certified electronic signatures.

BFN is intended to increase consumer awareness of digital financial developments and risks, including the use and protection of public personal data.

According to the Financial Services Authority (OJK), the role and support of all parties is needed to create a healthy digital financial ecosystem.

Chief Executive of the Financial Sector Technology Innovation Supervision, Financial Assets and OJK crypto Assets Hasan Fawzi said regulators must also innovate in a sustainable and committed manner to responsible business practices while increasing public financial literacy to make wise financial decisions.

Through the BFN 2023 event, OJK, associations, and industry players in the fintech sector are trying to continue to improve public literacy on a variety and a safe and legal technology financial product, risks that consumers must consider in using fintech services, and personal data protection.