OJK regulates digital banking services

The Indonesian Financial Services Authority (the OJK) will now manage the provisions of digital banking services by commercial banks through its recently issued regulation POJK 12/2018, effective 8 August 2018. POJK 12/2018 was issued to increase operational efficiency, improve customer service quality, and to encourage responsible innovation. The regulation applies to any commercial bank providing digital banking services. Through this regulation, we recognize OJK's fortitude to ensure risk infrastructure is properly managed to support digital services in Indonesia.

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