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Jakarta Post

Fintech companies need to protect customers from frauds and data misuse: Observers

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Fri, September 27, 2019   /  06:00 pm
The Jakarta Post Image
Illustration of financial technology (fintech).(Shutterstock/File)

As financial technology (fintech) continues to gain momentum in increasing the financial inclusion rate, questions remain as to how fintech firms can further expand their business and protect customers against fraud and personal data misuse. Coordinating Economic Minister Darmin Nasution has acknowledged that fintech companies play an important role in increasing the financial inclusion rate, especially in the outermost, frontline and disadvantaged regions of the country, often referred to as the 3T regions, thanks to the country’s expanding internet connectivity. “The role of fintech is important in promoting inclusion in a country as big as ours because it can provide financial access to areas that we’ve been having difficulty in reaching,” he said during a speech at the Indonesia Fintech Summit and Expo 2019 in Jakarta on Monday. The rise in the role o...