On Monday (11/6), PrivyID’s CEO, Marshall Pribadi, became the speaker for the Entrepreneurship Dynamics class of School of Business Management Bandung Technology Institute. The sharing session was moderated by Dina Dellyana, Lecturer & Entrepreneurship and Technology Management Interest Group Director of Business Incubator The Greater Hub and Safitri, Lecturer of School of Business Management Bandung Technology Institute. The online class was livestreamed through Google Meet and was joined by the students of the Entrepreneurship Dynamics class.
During the online class, Marshall explained to the participants about PrivyID’s journey from the beginning until now that PrivyID has been used by 5 million users. The success does not mean that PrivyID does not experience challenges.
One of the challenges that PrivyID is facing is their system’s stability, a common problem that often occurs to companies that expand rapidly. “We have many big corporate clients from the bank and financial services”, said Marshall, “As a trusted digital signature, we want to always be prepared. We always maintain our system so then we can always support our clients.”
Marshall Pribadi shared his story of growing PrivyID’s clients over the years
To be able to operate, PrivyID had to comply with existing regulations in Indonesia. In the process, at that time, PrivyID also had to convince regulators such as the Ministry of Communications and Informatics (Kominfo), Financial Services Authority (OJK), and Bank Indonesia (BI) that digital signature is safe and needed in Indonesia. Now PrivyID has been recognized and certified by the government institutions, such as Kominfo, OJK, and BI. According to Marshall, the regulator has a big role in running the digital signature market.
Fortunately, over time, PrivyID is trusted by investors such as MDI Ventures which is a subsidiary of Telkom Indonesia, Mandiri Capital a subsidiary of Bank Mandiri, and then there is Gunung Sewu. During the online class, Marshall also encouraged the participants who wanted to kick start a startup, that corporate investment could help to pave the way for big corporate clients.
Marshall also instilled the importance of being innovative. “Products and security are just as equally important. It would be such a waste when you have managed to acquire the necessary certifications and investment rounds, but then you’re unable to innovate,” said Marshall.