Jakarta (ANTARA) - The Financial Services Authority (OJK), during the 2022 OJK Virtual Innovation Day (OVID) here, Monday, unveiled three innovations aimed at improving the public's trust in the digital finance industry or digital trust system.

The first innovation involves Digital Financial Literacy Modules to improve consumers' understanding before choosing a digital finance service or product, OJK's official, Friderica Widyasari Dewi, stated.

The second innovation is Chatbot Customer Support Technology to handle consumers' questions and/or complaints through digital robot.

The third innovation concerns OJK's SupTech and RegTech Capacity Building to expedite digitalization in optimizing the effectiveness of information technology-based integrated monitoring and licensing.

The unveiling of these innovations is undertaken to improve consumers protection, strengthen consumers' digital literacy, and bolster the capacity of OJK employees' knowledge in conducting monitoring.

Chatbot and digital finance literacy modules are real proofs from OJK to the public in utilizing modern technology, Dewi remarked.

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Specifically, they are able to access complaint data in real-time, identify potential misconduct accurately, and convince consumers that they are heard, Dewi explained.

The development of these three innovations is undertaken with various donor institutions, such as the Asian Development Bank (ADB), Bill Melinda Gates Foundation, Cambridge Center for Alternative Finance, and World Bank.

At the same time, Chief of OJK Mahendra Siregar noted that the authority will continue to develop an innovative and responsible financial technology (fintech) ecosystem that prioritizes consumer protection.

"The demand to develop digital trust becomes so fundamental, considering the increasing various risks, as the people's entire activities are becoming more digitalized," he noted.

Moreover, the development of digital trust innovation aims to mitigate risks and utilize digital finance services and products that convince consumers their assets, data, and privacy can be secured.

The OVID event this year raised the topic of "Building Trust in Digital Finance Ecosystem" that is also a pre-event for the 2022 Indonesia Fintech Summit (IFS) that will be held on November 11-December 12, 2022

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Translator: M Heriyanto, Fadhli Ruhman
Editor: Suharto
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