Jumat, November 24, 2023

Accelerating Innovation Within the Fintech Industry: Business Actors and Regulators Required to Collaborate

The Financial Services Authority (Otoritas Jasa Keuangan - "OJK"), working in conjunction with the Indonesian Fintech Association ("AFTECH") and the Indonesian Sharia Fintech Association ("AFSI"), as well as various fintech industry players operating within Indonesia, are once again working in synergy in order to organize National Fintech Month, as well as the Indonesia Fintech Summit and Expo 2023 under the theme of accelerated growth through the promotion of sustainable governance in order to reinforce Indonesia's digital economy.
According to Hasan Fawzi, Chief Executive of Innovative Financial Sector Technology Supervision, Digital Financial Assets and Crypto Assets at the OJK, all parties should work together, take on different roles and support the creation of a healthy digital financial ecosystem, as follows: 1) Regulators should create an enabling framework for sustainable innovation; 2) There should be an industrywide commitment to ethical and responsible business practices; 3) Parties should work to improve the overall financial literacy of the general public so that they can make well-informed financial decisions.
Moreover, the Vice-Minister of Finance, Suahasil Nazara, has stated that innovations must be created by regulators and fintech actors. The stated goal is for a financial sector that can develop and that can be trusted through highly regulated support. In this regards, attempts at fostering security, stability and development must be driven by the financial sector and the government in its role as regulator.
In addition, the National Fintech Month event will run until 12 December and will involve various activities, including: 1) Virtual job fairs; 2) A webinar series on topics related to digital financial literacy and education; 3) Various promotional activities for fintech users; 4) A series of activities that are organized in conjunction with media outlets in an effort to promote and raise awareness of the appropriate use of fintech products and services.
For more on this story, see Hukumonline: “Kolaborasi Inovasi Pelaku Fintech dan Regulator Pada Bulan Fintech Nasional”.

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The Financial Services Authority (Otoritas Jasa Keuangan - "OJK"), working in conjunction with the Indonesian Fintech Association ("AFTECH") and the Indonesian Sharia Fintech Association ("AFSI"), as well as various fintech industry players operating within Indonesia, are once again working in synergy in order to organize National Fintech Month, as well as the Indonesia Fintech Summit and Expo 2023 under the theme of accelerated growth through the promotion of sustainable governance in order to reinforce Indonesia's digital economy.
According to Hasan Fawzi, Chief Executive of Innovative Financial Sector Technology Supervision, Digital Financial Assets and Crypto Assets at the OJK, all parties should work together, take on different roles and support the creation of a healthy digital financial ecosystem, as follows: 1) Regulators should create an enabling framework for sustainable innovation; 2) There should be an industrywide commitment to ethical and responsible business practices; 3) Parties should work to improve the overall financial literacy of the general public so that they can make well-informed financial decisions.
Moreover, the Vice-Minister of Finance, Suahasil Nazara, has stated that innovations must be created by regulators and fintech actors. The stated goal is for a financial sector that can develop and that can be trusted through highly regulated support. In this regards, attempts at fostering security, stability and development must be driven by the financial sector and the government in its role as regulator.
In addition, the National Fintech Month event will run until 12 December and will involve various activities, including: 1) Virtual job fairs; 2) A webinar series on topics related to digital financial literacy and education; 3) Various promotional activities for fintech users; 4) A series of activities that are organized in conjunction with media outlets in an effort to promote and raise awareness of the appropriate use of fintech products and services.
For more on this story, see Hukumonline: “Kolaborasi Inovasi Pelaku Fintech dan Regulator Pada Bulan Fintech Nasional”.

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