Indonesia’s leading digital signature and digital identity provider, PrivyID, together with Investree, a peer-to-peer lending marketplace, held a press conference on Wednesday, 18th September 2019. This event was held to promote a collaboration between PrivyID and Investree on their joint support in growing Indonesia’s financial inclusion by digitizing financial services. Effective August 22nd 2019, lenders and borrowers who are transacting at Investree have to digitally sign their agreements using the service provided by PrivyID.
This strategic partnership is established to maximize the potential of technology in increasing financial inclusion in Indonesia, in accordance with Indonesia’s government mission. As stated in Presidential Regulation No. 82 of 2016 concerning the National Strategy for Inclusive Financial (SNKI), the government of Indonesia sets an ambitious target of financial inclusion to reach 75% of the population by the end of 2019.
PrivyID’s Chief Executive Officer (CEO), Marshall Pribadi, explained that using a technology that enables people to access financial services anytime and anywhere is one of the most effective ways to improve financial inclusion.
“We hope that with this collaboration, our commitment to encourage Government’s mission in increasing financial inclusion will run more smoothly and securely”, he said.
Marshall further explains, “PrivyID’s digital signature uses asymmetric cryptography technology. Each signer is given a random arrangement of letters and numbers when signing the document, the letters and numbers will then encrypt the document to authenticate the original information provided in the document at the time of signing.”
PrivyID has been officially acknowledged by the Ministry of Communication and Information (Kominfo) as both a Certificate Authority (CA) and Certified Electronic Signature provider. Furthermore, PrivyID is currently listed as the only Financial Services Innovation Provider under e-KYC (Electronic Know Your Customer) cluster at the Financial Serves Authority (OJK). PrivyID is also certified with information security management ISO 27001:2013 which, according to Investree’s Chief Executive Officer Adrian Gunadi, is important in ensuring the security of Investree’s users.
Left to Right: Dickie Widjaja (CIO Investree), Adrian Gunadi (CEO Investree), Marshall Pribadi (CEO PrivyID), and Wayah Surya Wiroto (Managing Director of Endeavor Indonesia) posed together during PrivyID-Investree’s press conference (Jakarta, 18/9)
“The support from supporting infrastructure such as PrivyID digital signature that complies with regulations becomes very important for Investree. The collaboration with PrivyID is expected to be able provide a positive impact in improving the number of our borrowers and lenders, as well as accelerating loan procedure”, said Adrian.
Integrating PrivyID digital signing process within Investree’s platform is expected to improve speed and efficiency of online transaction between lenders and borrowers. Chief Information Officer (CIO) of Investree, Dickie Widjaja, also expressed his hope that the collaboration will not only encourage financial inclusion in Indonesia, but provide a seamless user experience for Investree’s lenders and borrowers.