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Privy Collaborates With AFTECH And AFPI To Enhance Fintech Industry Security
Wednesday, 20 Nov 2024
Privy, a provider of digital trust services, has partnered with the Indonesian Fintech Association (AFTECH) and the Indonesian Peer-to-Peer Lending Association (AFPI) to bolster security, transparency, and sustainability within the peer-to-peer lending sector in Indonesia. This collaboration aims to mitigate potential fraud risks.
The commitment agreement is manifested through technological collaboration, which includes the implementation of secure and certified signatures, as well as the development of compliance standards in accordance with established regulations, thereby strengthening the peer-to-peer lending ecosystem in the country.
The Deputy Commissioner for the Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services at the Financial Services Authority (OJK) has welcomed this agreement as a significant step in addressing technological challenges within the financial sector.
Digital financial services supported by fintech have emerged as a technological advancement within the financial sector, stated Jasmi in a written statement on Monday, November 18, 2024.
"This includes P2P lending fintech, which can reduce costs, enhance speed, transparency, and security, while providing financial services tailored to consumer needs for easier accessibility," he added.
Enhancing public trust
Meanwhile, Privy CEO Marshall Pribadi expressed his enthusiasm for the established agreement. The enhancement of digital security standards, the development of an effective transparency framework, and the need for sustainable regulations are indeed essential for society.
"The joint agreement with AFTECH and AFPI serves as evidence of our commitment to bolstering public trust in fintech services in Indonesia," said Marshall, who also holds the position of Vice Chairman IV of AFTECH.
