OJK Forms Special Team to Handle Digital Banking

Financial Fervices Authority (FSA) shape Digital Banking team to conduct studies on various digital activities related to banking. It includes an agenda to convey recommendations on implementation digital banking by banks throughout Indonesia. This is in line with the government's push for national banks to optimize digital services to improve bank operational efficiency.

Before starting, OJK said it had held discussions with several banks, the Ministry of Communication and Information Technology, the Directorate General of Population and Civil Registry of the Ministry of Home Affairs, and the Financial Transaction Reports and Analysis Center (PPATK). In its operational activities, OJK will also be assisted by the Criminal Investigation Unit of the Police, the National Resilience Council (Wantannas), the Indonesian Telecommunications Regulatory Agency (BRTI), the National Cyber ​​Information Security and Resilience Desk (DK2ICN) Kemkopolhukam, representatives of telecommunications companies and information security experts.

According to the Chief Executive of OJK Banking Supervision, Nelson Tampubolon, banking efficiency with digital banking can reduce operational costs. Including for lending institutions to be able to reduce the interest charged to customers. This policy is also encouraged to support government programs in the digital economy launched by the President of the Republic of Indonesia.

"The process of buying and selling online, digital social interaction on social media, discussion of Go-Jek issues and Grab in the DPR, and other digital activities also have an impact on the Indonesian banking industry. President Jokowi encourages digital banking, so Indonesian banks must be able to support this new policy," said Nelson Tampubulon in a discussion as quoted Seconds.

Many challenges are still encountered by the banking sector in moving to digital banking. One of them is the thinking of the banking industry and the public who do not feel the need to optimize digital technology optimally. Moreover, to apply the bank also has to spend quite a large investment.

The OJK team, which specializes in Digital Banking, is expected to be able to assist banks in finding the optimal strategy towards banking with a more mature digital concept.