REPUBLIKA.CO.ID, JAKARTA -- The Financial Service Authority (OJK) plans to issue OJK regulation to support the development of digital banking this year. Deputy Commissioner of Banking Supervision I of OJK, Teguh Supangkat, explained that the ecosystem of banking had changed due to development in information technology, customers’ behaviors, as well as the raise of new financial service industry. It demands banking to be adaptive and responsive.
“As a form of OJK strategic policy on accelerating digital banking transformation, OJK redesigns regulation on banking institutional and products through RPOJK on commercial banks and RPOJK on banking products. It will Insha Allah be issued this year,” Teguh said in an online seminar on Thursday (1/4)
OJK is still in the process of making rule. It has received public input, which will be furtherly studied.
Teguh explained that the draft of POJK (RPOJK) on commercial banks was aimed to strengthen institutional of banking industry, from both business scale and capital, as well as adjusting how bank operates towards business strategy and distribution network The draft will also design the types of banking office network; simplify the process of licensing, operational, and liquidation of a bank; increase the capital for new banks, including a new criteria for foreign banks which will open foreign bank branch office (KCBLN) and foreign bank representative office (KPBLN).
It also redefines banking classification, from Commercial Banks Based on Business Activities (BUKU) into Banks Classification based on Core Capital (KBMI).
“This RPOJK opens up an opportunity for banks to fully utilize Information System or known as full digital banking,” Teguh said.
Meanwhile, RPOJK on banking products is aimed to support banking innovation through quicker and easier licensing process of banking products. Inside, there will be a simplifying classification of banking products to become basic and advance banking products. They will not be related to core capital. It will also reform licensing using risk based approach, such as using piloting review mechanism with licensing process that takes up only maximum 14 working days.
RPOJK also includes incentive on instant licensing approval and also utilizes electronic system on licensing and reporting.
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