KONTAN.CO.ID - JAKARTA. Indonesia has revised banking regulations to push lenders to speed their digital transformations, the financial regulator said on Friday, as digital banking booms in Southeast Asia's largest economy. The regulations unveiled on Thursday will take effect at the end of October and set out requirements for digital banks, ranging from data protection for customers to employing executives versed in technology. However, there were no additional rules for digital banks to follow as compared with regular banks, a step the regulator said was intended to speed up digital adoption.
Indonesia revamps banking rules to spur digital transformations
KONTAN.CO.ID - JAKARTA. Indonesia has revised banking regulations to push lenders to speed their digital transformations, the financial regulator said on Friday, as digital banking booms in Southeast Asia's largest economy. The regulations unveiled on Thursday will take effect at the end of October and set out requirements for digital banks, ranging from data protection for customers to employing executives versed in technology. However, there were no additional rules for digital banks to follow as compared with regular banks, a step the regulator said was intended to speed up digital adoption.