Jakarta, CNBC Indonesia – Governor of Bank Indonesia Perry Warjiyo said digital reform is very important, especially in banking. Especially in the midst of the Covid-19 pandemic, digital transactions are the people’s choice.
According to him, for banking digital reform, one of which can be done through open banking. BI has even encouraged this since last year so that banks will not lose to fintech.
“We are pushing for open banking since May 2019, I will emphasize that if we don’t do open banking, we will be left behind. The financial sector will lose to fintech,” he said through a virtual webinar, Tuesday (29/9/2020).
Open banking is providing banking services through gadgets with assistance and collaboration with fintech. The two institutions also share and manage data together.
From BI’s records, there are at least 15 banks that are currently carrying out reforms towards digital banking. It is hoped that, in the future, more and more banks will follow these steps.
Perry explained that during this pandemic, digital financial transactions increased sharply by 37.8%. Meanwhile, the use of debit cards also decreased by 18.9%.
“The digital banking business has increased significantly. The use of electronic money is also high. This shows that digitalization needs to be answered through digitalization transformation,” he said.
He continued, even BI has carried out digital reforms since last year by releasing the 2025 Payment System in May 2019. The launch was carried out before the covid-19 pandemic and it turns out that this is very much needed at this time.
“We are launching it because the digitalization trend is very fast. That’s why we launched a payment system, we didn’t know there would be a pandemic,” he said.
The launch of the SP 2025 is intended to simplify the integration of Indonesia’s financial system. So later it can connect business actors to fintech and others in an end to end process.
(roy/roy)
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