Indonesian FSA launches online register to monitor fintechs
The Financial Services Authority for Indonesia (OJK) has launched an online registration system in an effort to create a more efficient way to monitor development of fintech.
The system is called ‘Electronic Gateway for Digital Finance Information Systems’, or ‘Gesit’.
The OJK has also paired up with the Monetary Authority of Singapore (MAS), Japan Financial Service Authority and Security Exchange Commission Malaysia to host a safer and more creative fintech environment.
“This platform is in the early stages,” says OJK deputy chairman Nurhaida. “Further developments are on their way.”
Gesit is designed to grow business through the innovation hub OJK Infinity, an education centre for fintech set up last year.
The platform will provide fintech industry stakeholders with the latest fintech news and give them a chance to book consultation appointments with the OJK Infinity team.
The hub has 121 new fintech registrations and 48 of these are verified, business-ready start-ups.
The authority is also looking to implement a variety of policies to spark more Indonesian fintech growth. These will launch before the end of the year, according to OJK chairman Wimboh Santoso.