Indonesian Regulators Makes Fintech Startup Push
In this article (5)
A new online registration system has been introduced by Indonesia’s financial regulator to monitor and further encourage the growth of fintech development in the country.
The Financial Services Authority (OJK) launched the «Electronic Gateway for Digital Finance Systems» (Gesit) which allows fintech industry stakeholders to gain fintech news access and, more importantly, consult about OJK Infinity.
OJK Inifinty is a platform the regulator created last year to act as an innovation hub, business incubator and education center for fintech startups. It currently has 121 fintech firms registered, 48 of which are ready for operation.
Aside from leveraging domestic resources, OJK chairman Wimboh Santoso said there were plans to partner with other Southeast Asian countries to further stimulate fintech development in Indonesia.
Questions & Answers
Q.What is the primary purpose of the new online registration system launched by Indonesia's financial regulator?
What is the primary purpose of the new online registration system launched by Indonesia's financial regulator?
The new system, called Gesit, aims to monitor and further encourage the growth of fintech development in Indonesia. It allows industry stakeholders to access fintech news and consult about the OJK Infinity platform.
Q.How many fintech firms are currently registered with OJK Infinity, and how many are ready for operation?
How many fintech firms are currently registered with OJK Infinity, and how many are ready for operation?
OJK Infinity currently has 121 fintech firms registered. Of these, 48 are reported to be ready for operation, indicating they have met the necessary criteria for business activity.
Q.What is OJK Infinity and what functions does it serve for fintech startups?
What is OJK Infinity and what functions does it serve for fintech startups?
OJK Infinity is a platform created by the regulator last year. It functions as an innovation hub, a business incubator, and an education centre specifically designed for fintech startups in Indonesia.
Q.Are there any plans for OJK to collaborate with other countries to promote fintech development?
Are there any plans for OJK to collaborate with other countries to promote fintech development?
Yes, OJK chairman Wimboh Santoso has indicated there are plans to partner with other Southeast Asian countries. This is intended to further stimulate fintech development within Indonesia, using regional collaboration.
Reader pulse
Is OJK's Gesit system an effective step?
24,378 votes so far