TEMPO.CO, Jakarta – Friderica Widyasari Dewi, Member of the Board of Commissioners of the Financial Services Authority (OJK) for Education and Consumer Protection, said the regulator oversees market conduct in the digital financial services sector to maintain confidence in the financial services sector. One of them is the supervision carried out by the Investment Alert Task Force (SWI).

“We have seen that the SWI has shut down more than 5,300 illegal online investment offers and loans (from 2017 to August 2022),” she said in Jakarta, October 10.

The OJK is also strengthening its consumer protection portal (APPK) via contact number 157, and developing customer support technology (suptech). According to Friderica, suptech tools are capable of categorizing information, identifying, flagging suspected illegal activity, as well as understanding consumer perceptions and segmenting demographics from online data and social media.

The regulator also conducts prudential oversight using technologies such as chatbot customer support technology, which was released recently. The chatbot handles consumer complaints harmed by financial services players.

“With the slogan ‘Always There, Always Care,’ OJK can hear, collect and respond to consumer complaints faster, better and more efficiently,” she said.

According to Friderica, using a chatbot is one of OJK’s efforts to build a system of digital trust. The aim is to increase public confidence in the digital financial industry.

Friderica called for industry associations to also monitor illegal lending and disseminate information to the public. She said a legal, OJK-registered loan can add value and make it easier for the public to distinguish between legal and illegal fintech businesses.

Mr Khory Alfarizi

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