Regulatory bodies worldwide are increasingly focusing on the digital transformation of the banking sector, introducing comprehensive regulations to ensure fair competition and innovation. The latest move comes from Indonesia’s OJK Financial Services Authority, revealing a new regulatory framework designed to guide banks in the development of digital services and in assessing digital maturity. Leveling the Field in Digital Banking The new regulations introduced by the OJK aim to create a level playing field for financial institutions, encouraging innovative digital services while ensuring customer protection. This move is part of a larger global trend, as regulators worldwide seek to adapt to the rapidly evolving digital landscape in banking. Guiding the Digital Transformation Dian Ediana Rae , the OJK’s Chief Executive of Banking Supervision, stated that these regulations align with the mandate of Law Number 4 of 2023. The law aims to strengthen the financial sector, focusing specifically on digital maturity and readiness. The regulations cover various aspects of digital banking, from governance architecture, risk management, and cybersecurity, to data collaboration and consumer protection. A Global Trend In the broader context, these regulatory moves reflect a worldwide emphasis on the evolution of digital banking. Recent examples include the European Central Bank’s […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
