- The Deputy Commissioner for Banking Supervision at the Financial Services Authority (Otoritas Jasa Keuangan – "OJK"), Teguh Supangkat, has stated that after publishing a roadmap and blueprint that address the digital transformation of the banking sector, the OJK will implement a Digital Maturity Assessment of Bank ("DMAB") program.
- According to Supangkat, the DMAB program will be used to measure banking digitalization through comprehensive evaluations of the relevant levels of digitalization maturity in accordance with the following six areas: 1) Data; 2) Technology; 3) Risk management; 4) Collaboration; 5) Institutional arrangements; and 6) Customers.
- Furthermore, the OJK will also establish regulatory oversight technologies that will utilize big data analysis in order to measure risk profiles and implement supervisory activities in relation to individual banks.
- The OJK implemented a study in 2019 aimed at the creation of several digital banking transformation roadmaps. The launch of said roadmaps in 2020 was then followed up by the launch of a banking digitalization blueprint that focused on the five main elements that make up the foundations for the development of banking digitalization, specifically: 1) Data implementation guidelines; 2) Technology; 3) Risk management; 4) Collaboration; and 5) Institutional structures of the banking industry.
- The OJK has also pledged that it will continue to pay close attention to issues relating to data protection, data transfer, data management, information technology governance, technological architecture, the application of new technologies, information technology risk management and cyber security. (ANT)
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