Jakarta (ANTARA) \u2013 The Financial Services Authority (OJK) has urged\nthe public to exercise caution, as easier access to financing must be\nmatched by the ability to repay and an understanding of the associated\nrisks.<\/p>\n
\u201cEasy access to digital financing must be accompanied by adequate\nliteracy, an understanding of risks and the ability to meet obligations,\nso that the benefits of financial technology can be realised optimally\nand sustainably,\u201d said Agusman, OJK\u2019s Chief Executive for the\nSupervision of Financing Institutions, Venture Capital Companies,\nMicrofinance Institutions and Other Financial Services Institutions.<\/p>\n
In a statement issued in Jakarta on Sunday, Agusman said\ntechnological advances had significantly changed the financing process,\nmaking it faster, easier and more inclusive.<\/p>\n
\u201cDigital financing makes it possible to complete processes that\npreviously took months in a matter of seconds, through the use of\ntechnology, artificial intelligence and machine learning to assess\nfinancing eligibility,\u201d Agusman said.<\/p>\n
Digital financing, he added, plays a strategic role in broadening\npublic access to finance and supporting the development of productive\nsectors and micro, small and medium-sized enterprises (MSMEs).<\/p>\n
The easier access to funding it offers could help drive higher\nproductivity and inclusive economic growth.<\/p>\n
\u201cWhen conventional financial services struggle to reach all sections\nof society, digital financing can broaden access to finance, provided\nconnectivity and digital infrastructure are available,\u201d he said.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/ojk-urges-public-to-exercise-caution-as-financing-becomes-more-accessible-1792903855", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }