Consumer Protection and Digital Finance

As other countries have implemented, Indonesia needs to use a risk-based approach in regulating the digital finance industry. This will help adapt regulations on rapidly developing technologies.

KOMPAS/NUR HIDAYATI

MIRZA ADITYASWARA

Adapt or die. Perhaps this is how we can describe the impact of digitalization on life today. Many people initially resisted digitization, but it was inevitable.

A few indicators show its positive impact in encouraging economic growth and financial inclusion in Indonesia. Investment in digital companies has been growing rapidly in Indonesia. According to a 2021 survey conducted by Alpha JWC Ventures and Kearny, the total value of Indonesia’s investments in digital companies reached US$4.4 billion in 2020, double that compared to the 2019 figure.