Finance minister hopes banks would continue to improve governance

Jakarta, (ANTARA News) – Finance Minister Sri Mulyani hoped that the banking industry would continue to improve its good corporate governance (GCG) amid the dynamism of business model transformation as a result of industrial revolution 4.0.

“The results of a survey conducted by the banking industry in Indonesia showed that the implementation of GCG in the financial industry is still in the good range. I imagine that it should be excellent,” Sri Mulyani stated at the Indonesia Banking Expo (IBEX) in Jakarta on Thursday.

She noted that the implementation of the GCG in the financial sector is very important owing to the fact that the industry constitutes trust-based business.

The development of technology nowadays is something that has to be accepted and designed to enter the financial industry sector.

Therefore, Sri Mulyani reminded the financial industry that it should remember the good corporate governance when designing a technology transformation.

“No matter whether it is currency or digital money, it is other peoples property that they have entrusted to us. No matter how the business model changes, my view that the foundation of the banking business is trust and confidence remains the same,” he remarked.

On the occasion, President Director of PT Bank Mandiri, Kartika Wirjoatmodjo explained that there were a number of technology disruptions that could change the future.

Some of them are cloud computing, application programming interface (API), robotic process automation, artificial intelligence, and block chain.

“All this disruption, with all its advantages and disadvantages, sometimes seems interesting. However, we need to realize that the impact of digital transformation must be clearly understood by stakeholders,” he pointed out.

Source: ANTARA News

Finance minister hopes banks would continue to improve governance

Jakarta, (ANTARA News) – Finance Minister Sri Mulyani hoped that the banking industry would continue to improve its good corporate governance (GCG) amid the dynamism of business model transformation as a result of industrial revolution 4.0.

“The results of a survey conducted by the banking industry in Indonesia showed that the implementation of GCG in the financial industry is still in the good range. I imagine that it should be excellent,” Sri Mulyani stated at the Indonesia Banking Expo (IBEX) in Jakarta on Thursday.

She noted that the implementation of the GCG in the financial sector is very important owing to the fact that the industry constitutes trust-based business.

The development of technology nowadays is something that has to be accepted and designed to enter the financial industry sector.

Therefore, Sri Mulyani reminded the financial industry that it should remember the good corporate governance when designing a technology transformation.

“No matter whether it is currency or digital money, it is other peoples property that they have entrusted to us. No matter how the business model changes, my view that the foundation of the banking business is trust and confidence remains the same,” he remarked.

On the occasion, President Director of PT Bank Mandiri, Kartika Wirjoatmodjo explained that there were a number of technology disruptions that could change the future.

Some of them are cloud computing, application programming interface (API), robotic process automation, artificial intelligence, and block chain.

“All this disruption, with all its advantages and disadvantages, sometimes seems interesting. However, we need to realize that the impact of digital transformation must be clearly understood by stakeholders,” he pointed out.

Source: ANTARA News