The Jakarta Post
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsWIDTH, NawaData partner to support compliance and risk management
WIDTH is an artificial intelligence-driven, all-in-one compliance and risk decision intelligence platform while Nawadata builds software for banks and financial institutions.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
A stock illustration of financial crime. (Shutterstock/simon jhuan)
S
ingaporean-headquartered WIDTH announced recently a partnership with Indonesian technology company Nawadata to help financial institutions in Indonesia strengthen compliance, risk management and financial crime controls as they digitize more services.
WIDTH is an artificial intelligence-driven, all-in-one compliance and risk decision intelligence platform while Nawadata builds software for banks and financial institutions.
“Banks and financial institutions in Indonesia are moving more customer journeys online while strengthening their AML/CFT [anti-money laundering/combatting the financing of terrorism] and fraud controls,” WIDTH chief executive officer and cofounder Chye Kit Chionh said in a statement.
“NawaData knows the reporting, risk and credit systems these institutions run every day.”
Chye added that both companies could support banks and financial institutions with specialists who understand local requirements, while WIDTH gives compliance teams the evidence behind every recommendation and keeps the final decision in their hands.
Nawadata is trusted by four of Indonesia's 10 largest banks by assets, as well as organizations across the financial services industry, the statement claimed.
"Our aim is to make IT simple for the banks and financial institutions we serve,” Nawadata chief executive officer Johan Peterson said, as quoted by the statement.
“Working with WIDTH gives our clients access to a specialist partner for digital onboarding, KYC [know your customer] and KYB [know your business], and AI-assisted compliance review, alongside the reporting, risk and credit systems they rely on from NawaData.”
Nawadata provides financial technology solutions that cover regulatory reporting (OneReporting), financial crime and compliance (OneFCC), risk management (OneRisk), credit management and process automation.
WIDTH covers digital onboarding, KYC, KYB, screening, transaction monitoring, fraud detection and case management on one platform. Its AI Reviewer gathers and cites the evidence behind each recommendation, while Graph Intelligence maps the links between customers, companies and counterparties. Compliance teams retain final decision-making authority.
Financial institutions in Indonesia manage regular reporting to regulators including the Financial Services Authority (OJK) and Bank Indonesia, alongside obligations related to anti-money laundering and counter-terrorism financing.
A 2024 OJK regulation also requires financial services institutions to implement an anti-fraud strategy covering prevention, detection, investigation, reporting and follow-up.
Through the partnership, institutions working with either company can draw on Nawadata's regulatory reporting, risk management and credit systems and on WIDTH's digital onboarding, KYC and KYB, Graph Intelligence and AI Reviewer.
