In data, we provide data protection guidelines that include accuracy, storage restrictions, integrity and confidentiality, accountability, data minimization, and limiting purposes, as well as being fair and transparentJakarta (ANTARA) - The Financial Services Authority (OJK) officially launched the blueprint for digital banking transformation as a guideline for expediting digital transformation for the banking industry that was innovative, prudent, and inclusive.
"The blueprint provides guidance to stakeholders and bankers, so that they can serve faster and become a bank that contributes better to our economy with prudential principles," Executive Chairman of Banking Supervisory at OJK Heru Kristiyana stated at the launch of the blueprint for digital banking transformation, here on Tuesday.
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The blueprint for digital banking transformation provided rules in the form of general principles to offer space for the industry to develop.
The blueprint also facilitated and encouraged digital innovation without ignoring the precautionary principle.
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The blueprint will continue to be improved to accommodate the dynamics of the banking business.
Through the blueprint for digital banking transformation, he noted, the OJK will provide guidelines on five elements: data, technology, risk management, collaboration, and institutional arrangements.
"In data, we provide data protection guidelines that include accuracy, storage restrictions, integrity and confidentiality, accountability, data minimization, and limiting purposes, as well as being fair and transparent," Heru Kristiyana expounded.
The OJK will regulate data transfer that includes types of customer data, parties, as well as data exchange arrangements.
The OJK will also provide guidelines for data governance and principles as well as operational governance.
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"In technology governance, focus on aligning business strategy and information technology investment in order to create business value for investment and information technology," he affirmed.
In addition to the technology element, OJK provides technology architecture guidelines as well as emerging technology and applications that encourage banks to adopt the latest emerging technologies.
In terms of the risk management element, the OJK provides guidelines on IT risk management, outsourcing, and cybersecurity. For the collaboration element, the OJK provides guidance on sharing platforms and implementation of partnership.
"In terms of institutional arrangements, we provide guidance on leadership and readiness related to digital implementation and clear and adequate sources of funds as well as commitments to fund digital infrastructure in a sustainable manner," he stated.
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Translator: Kuntum K, Azis Kurmala
Editor: Fardah Assegaf
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