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Indonesia banks hope new rules will speed up digitalisation
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Linda Yulisman Indonesia Correspondent In Jakarta, Linda Yulisman
Indonesian banks hope newly passed banking regulations will accelerate their digital transformation, enabling them to embrace innovations and grow faster as digital banking is set to boom in South-east Asia's largest economy.
The Indonesia Financial Services Authority's (OJK) regulations, which were unveiled on Aug 19 and will be effective at the end of October, specify a set of requirements for digital banks, ranging from consumer data protection to hiring executives with expertise in information technology.
