- The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) has issued an official Roadmap to Digital Financial Innovation and Digital Financial Literacy (“Roadmap”), which is to be used as a set of guidelines by the digital financial industry during the 2020 - 2024 period. The Roadmap focuses on the development of comprehensive, supporting digital-finance environments in an effort to create a competitive, strong and future-appropriate financial services industry.
- In order to achieve these development goals, the Roadmap includes a Digital Action Plan for 2020 – 2024 (“Action Plan”), which addresses six areas, specifically: 1) Accelerators; 2) Regulation and supervision; 3) Research; 4) Collaborations; 5) Manpower; and 6) Customer protection. Furthermore, the Action Plan also sets out an initiative that is being aimed at preparing the national workforce for the needs of the digital economy.
- As the Corona Virus Disease 2019 (COVID-19) pandemic continues to severely limit human mobility and face-to-face interactions, the development of a viable digital economy is viewed as being of vital importance for the country. One example of this development is the Fintech industry, which has the potential to become a game-changer by simplifying the lending process, encouraging businesses to adapt to the new normal and facilitating digital transformations.
- For more on this story, see Hukumonline: “OJK Terbitkan Roadmap Kebijakan Industri Jasa Keuangan Digital, Bagaimana Arahnya?”
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