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Regtech, legal tech firms join forces in IRLA
Several technology companies that provide technological solutions in the legal and financial services sectors have teamed up to establish the Indonesian Regtech and Legaltech Association (IRLA), which aims to promote financial inclusion through technological innovations.
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The Indonesian Regtech and Legaltech Association (IRLA), a new association formed by technology firms providing legal and financial services, aims to promote regulatory inclusion and legal awareness. (Shutterstock/File)
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everal technology companies that provide technological solutions in the legal and financial services sectors have teamed up to establish the Indonesian Regtech and Legaltech Association (IRLA), which aims to promote regulatory inclusion through technological innovations.
The IRLA is a platform for regulatory technology (regtech) companies, legal technology (legal tech) companies and law firms to work together to develop legal education and awareness in the country, said IRLA chairman Charya Rabindra Lukman in a statement released on Tuesday.
“Our focus is the people, not businesses or even legal practitioners. We will set aside our individual business interests and focus on regulatory inclusion,” the statement said.
Charya also said the IRLA would partner with the government and other regulatory bodies to reduce misunderstandings and erroneous interpretations of regulations.
“By nature, the law is an inseparable part of our daily lives. However, our society still has a low level of understanding on law and its relevant institutions,” he said, adding that regtech and legal tech were relatively unknown terms in Indonesia, because both sectors were in their initial stages here.
Regtech offers tools to help businesses access, understand and comply with regulations, while legal tech offers products and services that help users access legal documents and advice, both applying innovative technology to provide more streamlined and efficient solutions.
Along with Charya, the new association was co-founded by Rahmat Dwi Putranto, Marhsall Pribadi, Ivan Lalamentik, Dimas Prasojo, Evandri Pantouw and Arief Wicaksono. (bbn)
