OJK ensures financial innovation grows safely and responsibly
Jakarta (ANTARA) - The Financial Services Authority (OJK) is ensuring that financial sector innovation can continue to grow within a safe and responsible corridor in order to mitigate risks to consumers and safeguard the stability of the financial sector.
“Therefore, the development of innovation in the financial services sector must go hand in hand with strengthened governance, risk management, and market integrity. And of course, for the purpose of consumer protection,” said Adi Budiarso, Executive Head of Financial Sector Technology Innovation Supervision, Digital Financial Assets, and Crypto Assets at OJK, in Jakarta on Monday.
At a press conference on the results of the August 2026 Monthly Board of Commissioners Meeting (RDKB), Adi said the principles used by OJK also refer to globally accepted principles, namely same activities, same risk, and same regulation in the financial sector.
“This means that when an innovation carries out activities and poses risks comparable to those of other financial sector activities, then prudential standards and consumer protection must also be applied on an equal basis,” he said.
According to him, OJK’s approach going forward is focused on three agendas: deepening, to strengthen ecosystems that have already been formed; widening, to broaden the use of innovations already in operation; and safeguarding, to ensure consumer protection and risk mitigation can be carried out ever more robustly.
For information, since the issuance of POJK Number 3 of 2024 concerning the Organisation of ITSK, OJK had received 351 consultation requests from prospective sandbox participants as of 31 August 2026.
OJK has received 36 applications to become sandbox participants. There are currently two sandbox participants, consisting of one operator with a digital financial asset and crypto asset (AKD-AK) business model, and one market supporter currently undergoing the trial process.
Under POJK Number 3 of 2024 concerning the Organisation of Financial Sector Technology Innovation (ITSK), operators whose business models are the same as the seven sandbox participants that have already graduated have the right to register with OJK without going through sandbox development trials.
As of August 2026, there are 24 ITSK operators officially registered with OJK, comprising eight alternative credit rating agencies (PKA) and 16 financial services aggregation operators (PAJK).
During July 2026, ITSK operators registered with OJK successfully established 1,357 partnerships with financial services institutions across various sectors, including banking, financing companies, insurance, securities firms, online lending, microfinance institutions, and pawnshops, as well as with information technology service providers and data source providers.