PrivyID, Indonesia’s pioneering company of digital signature service provider, has officially collaborated with one of the most popular fintech startups in Indonesia, Akseleran. Beginning from this July, lenders who have registered at Akseleran have to digitally sign their membership agreement documents using the service provided by PrivyID.
For your information, the use of certified electronic signature or commonly referred to as digital signature is part of the requirements that OJK has mandated for financial technology (fintech) companies. Based on the legal definition under ITE Law, electronic signature is a signature comprised of electronic information that is attached, associated, or interconnected with other electronic information as a mean of verification and authentication.
Founding CEO of PrivyID Marshall Pribadi said, “PrivyID is pleased and honored to be a partner of Akseleran in meeting government regulations to use certified digital signature.”
Furthermore, Marshall explained, “With our digital signature technology, PrivyID has successfully helped Akseleran to verify their users faster, without having to worry about the validity of the user’s identity, as PrivyID has obtained the right to access the population data from Ditjen Dukcapil“.
Moreover, PrivyID has also been officially registered in OJK as a Digital Financial Services Innovation provider under the e-KYC cluster. “This makes us the first and only e-KYC service provider in Indonesia to be included in OJK’s regulatory sandbox ,” Marshall said.
Electronic signature can help businesses to accelerate electronic transaction process by making them no longer tied to limiting factors such as time and place. The authentication process also no longer requires proof of physical verification, thereby eliminating the risk of documents being damaged, lost, or opened without permission by third parties which often occurs on paper documents. However, despite the absence of physical evidence, the electronic certificate attached to digital signature provides a guarantee of validity of the signature itself as well as the signer’s identity.
Since it was first established in 2016, PrivyID’s digital signature service has been trusted by reputable banking companies such as Bank BRI, Bank CIMB Niaga, and Bank Mandiri to accelerate and increase the security of the account opening process, non-collateral loans, and credit card applications. Akseleran’s decision to join as PrivyID’s collaboration partners further strengthen Akseleran’s position as one of the most trust-worthy fintech companies in Indonesia.
Rassel Pratomo, CTO & Co-Founder of Akseleran, said that the collaboration takes form in implementing PrivyID’s product service in each Akseleran agreement. In the future, Rassel explained, Akseleran will no longer use handwritten signatures in their transactions, as both Akseleran’s lenders and borrowers can directly sign their agreements digitally within Akseleran’s app using their PrivyID.
“This collaboration makes the process of signing an agreement more efficient, considering that Akseleran lenders and borrowers are growing. We chose PrivyID because they are one of the longest running digital signature providers in Indonesia, and has also been officially recognized by the Ministry of Communication and Information (Kemenkominfo).” said Rassel.
He also expects that the collaboration between Akseleran and PrivyID will improve the quality of their collaboration in either the digital signature process and the e-KYC process. “Currently, Akseleran users can already digitally-sign any documents remotely using their smartphones to simplify the process,” Rassel concluded.
To learn more about how to use PrivyID’s digital signature in Akseleran, click here.