Big loss if financial digitalization not implemented soon: Expert

Big loss if financial digitalization not implemented soon:  Expert

Antara
Depok (ANTARA) - Finance expert of the IPMI International Business School Finance Professor HM Roy Sembel highlighted the need for financial digitalization to be implemented immediately in the absence of which Indonesia will experience heavy losses.

"We admit that many things still need to be addressed, but we must immediately start because if we don't, we will be left behind," Sembel stated at a seminar titled "Financial Digitalization of Education Institutions Towards Financial Inclusion" in Depok, West Java, Friday.

Sembel noted that with financial digitization, everything will be connected and can be an extraordinary opportunity, so that new innovations and access to services can be extended to remote areas.

"If it was earlier underserved, it could now be entered and served well," he explained.

Sembel admits that several matters need to be addressed, but this should not pose a barrier.  

"What is important is that we start first and then develop the technology," he stated.

He pointed out that not only Indonesia but also the world was facing the issue of protection of security or privacy, among others.

"If we do not start adopting these digital financial technologies, the losses will be far greater," he cautioned.

"Several ways can be employed although not 100 percent perfect," Sembel remarked.

Meanwhile, Depok Mayor Idris Abdul, who attended the event, reiterated the need for digitalization, including digitizing education, which was not solely restricted to facilitating financial payment of schools, SPP, from parents to schools.

"Not only that but it also includes how easy it is for us to communicate in completing several schools in Depok City," he added.

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