KSEI strengthens investor protection through AKSes Next-G facility

Jakarta (ANTARA) – Indonesia Central Securities Depository PT Kustodian Sentral Efek Indonesia (KSEI) unveiled the latest generation of securities ownership reference facility termed AKSes Next-G at the Indonesia Stock Exchange here, Monday.

KSEI President Director Friderica Widyasari Dewi revealed that one of the key factors behind KSEI developing AKSes Next-G was the low utilization of AKSes facilities and the need to offer swifter and easier login processes to investors.

“Earlier, in order to utilize AKSes facilities, investors first had to obtain an AKSes card and PIN code that often consumed time, as the documents were hard files. With the launch of AKSes Next-G, investors merely had to use their personal data for logging in,” Dewi remarked.

KSEI is providing the AKSes facility for investors in the capital market to facilitate direct monitoring of their securities ownership portfolios or funds stored in the Customer Fund Account (RDN).

The AKSes is projected to offer better information transparency and investor protection. The AKSes facility was initially launched by KSEI in 2009 under the name of Investor Area.

The AKSes facility is developed to enable investors to directly check the investment portfolio in the Indonesian capital market at the KSEI as a depository and settlement institution.

The AKSes facility will facilitate investors in conducting periodic comparisons of their account statements submitted by securities companies and custodian banks to the data stored in KSEI to ensure that their investment portfolios are in accordance with the selling or buying instructions given to securities companies and custodian banks.

Development of the Next-G AKSes is a KSEI initiative and one of the multi-year projects included in its long-term strategic plan. The AKSes facility has included some attractive features to increase the number of users.

Until the end of 2018, less than 12 percent of the investors were using the AKSes facility. Some of the constraints hindering the optimal utilization of this facility included the registration process that still called for physical documents, such as the AKSes card and PIN code. Moreover, the features in the last AKSes facility version were few.

The AKSes Next-G offers a simplified registration process, as it necessitates the entry of only personal data taken from the Citizen Identification Number (NIK) for local investors, passport numbers for foreign investors, or Single Investor Identification (SID) numbers for institutional investors.

Other required data comprise the name, e-mail address, and mobile phone number. During the registration process, some of the data is also verified to that maintained in the main system of KSEI, C-BEST, or S-INVEST. Hence, this helps to confirm that those logging into the AKSes Next-G facility are investors that have opened a Securities Account Sub or Investment Account.

Source: ANTARA News