30 Mar 2019

Fintech Goes to Campus: Young Generation Should Understand the Financial Technology

More than 3000 students’ participants attend the National Seminar Fintech Goes to Campus, on Saturday March 3rd 2019 in GPH Haryo Mataram building, Universitas Sebelas Maret (UNS). The event with a theme “Digital Cooperation to Stimulate Economic Growth in 4.0 Industrial Era” is organized by the Otoritas Jasa Keuangan (OJK), in collaboration with the Undergraduate in Accounting Study Program FEB UNS, and Ikatan Alumni (IKA-Alumni Association) UNS. The keynote speaker for the event is the Minister of Communication and Information, Rudiantara, S.Stat. MBA and the Head of Commissioner Board of OJK, Dr. Wimboh Santoso, S.E., M.Sc., Ph.D.

Other speakers who also deliver a speech on the event are M. Ihsanuddin, the Deputy Commissioner for Non-Bank Financial Industry, Adrian Gunadi, the Head of The Indonesian Fintech Joint Funding Associationt (AFPI), Rico Usthavia Frans, the Director of Information Technology and Operation for Bank Mandiri, Chris Antonius, the Co-Founder of PT Toko Modal Mitra Usaha, and Irwan Trinugroho, PhD, Faculty members of the FEB UNS.

The development of fintech brings many benefit such as shorter time of information delivery, as well as faster and more precise decision making process. Fintech also improve economic growth, create new employment, reduce poverty, and improve financial inclusion.

The Rector of UNS, Ravik Karsidi, in his opening remarks states that in this digital era the young generation should adapt quickly. Awareness on Fintech development is important as Fintech can create various new business opportunity that use digital platform as business base. In line with the opening remarks, in his presentation, Wimboh states that technology development is unstoppable and currently has reach the economics sector including the financial industry. Nowadays there are many Fintech companies emerges in the cyberspace. Hence, OJK made an effort to regulate the fintech companies by requiring every fintech companies to be listed as AFPI member.

Supervision is conducted comprehensively and directly to the fintech lending office to assess whether the companies comply with the regulation on requirements and prohibitions, in accordance with the regulation of law in financial service.

OJK also conduct a report-based supervision, either Periodical Report (monthly, quarterly, or annually) or other report such as consumer report, legal aid agency report, or the report from the community member. In the future OJK will implement the Host to Host supervision or IT-based supervision. “Until February 2019, OJK together with the members of the Investment Alert Task Force has stopped 803(accumulative total) illegal peer-to-peer lending entities,” he explained.

Before the seminar started, a memorandum of understanding between UNS, OJK, and AFPI, was signed by the Rector of UNS, Ravik Karsidi, the Head of Commissioner Board of OJK, Wimboh Santoso, and the Chairman of AFPI, Adrian Gunadi.

This memorandum of understanding is a part of collaboration between UNS, OJK, and AFPI to improve the quality of education in digital economics, which covers scholarship, internship, training, curriculum, research, and various other collaboration activities.

In line with the collaboration with UNS, OJK will continue to socialize and collaborate with other universities, by targeting the young generation to encourage the development and improvement of Fintech, thus it could be beneficial for the wider community.