VIDA Emphasises Importance of Digital Identity Security for Fintech Ecosystem

Founder and Group CEO of PT Indonesia Digital Identity (VIDA), Niki Luhur, has spotlighted the importance of securing digital identity infrastructure to protect Indonesia’s burgeoning financial technology (fintech) ecosystem. He stated that cybercrime tactics are becoming increasingly complex, requiring fintech industry players to mitigate threats as early as possible. “We all recognise that scams are becoming more prevalent worldwide with ever-evolving methods. Education for consumers alone is not enough to tackle these challenges,” Niki Luhur said in an official statement received in Jakarta on Wednesday. To reduce losses from such crimes, he believes strengthening infrastructure and a legal ecosystem capable of protecting consumers and enhancing security standards is essential for fintech operators. Niki explained that there are four layers of security that fintech players can implement to optimise their system protection: individual verification, device verification, identity verification, and the use of artificial intelligence (AI). His company has developed the “Beyond Liveness” feature to assist the national fintech ecosystem in detecting increasingly complex digital fraud threats that can no longer be addressed by a single security layer. He noted that this technology does not rely on a single verification point but combines five layers of security working simultaneously, including device behaviour analysis, network patterns, and real-time behavioural analytics. “Like in the Middle Ages, when building a castle, the defence system was designed in layers to protect against enemy attacks. A similar approach needs to be applied in building security in the fintech industry,” Niki added.