outbrain
Close  

Indonesia launches online fintech monitoring platform

/ 03:46 PM September 04, 2019
Indonesia launches online fintech monitoring platform

Illustration of financial technology (fintech). The Financial Services Authority (OJK) launched the Electronic Gateway for Digital Finance Information Systems (Gesit) to monitor fintech development (Shutterstock/File) via The Jakarta Post

JAKARTA — The Financial Services Authority (OJK) of Indonesia has launched the Electronic Gateway for Digital Finance Information Systems (Gesit), which is said to be a more efficient way to monitor the development of financial technology (fintech) amid the industry’s rapid growth in the country.

“This platform is in the early stages. Further developments are on their way,” OJK deputy chairman Nurhaida said in Jakarta on Tuesday.

ADVERTISEMENT

Gesit is an online registration system for fintech startups wanting to grow its business through the OJK Infinity, an innovation hub, business incubator and education center for fintech established last year.

Through the newly launched platform, fintech industry stakeholders could also get access to the latest news on fintech issues and make consultation appointments with the OJK Infinity team.

FEATURED STORIES

The OJK Infinity has received 121 new fintech registrations, of which 48 fintech startups have been verified and ready to start their businesses.

The authority is preparing several policies to spur Indonesia’s fintech development, OJK chairman Wimboh Santoso said.

“We will launch them before year-end,” he added, without elaborating on the proposed policies further.

The OJK is also assessing possible partnerships with other Southeast Asian countries to realize such a vision, Wimboh said.

The OJK, which is responsible for regulating peer-to-peer fintech lending, has issued operational licenses to 127 fintech firms as of July. In the month alone, fintech lending transaction value stood at Rp 49.7 trillion (US$3.5 billion), an increase from Rp 44.8 trillion recorded in the previous month, its data shows.

ADVERTISEMENT
TOPICS: Asia, Business, economy, fintech, Indonesia
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.