Today’s financial ecosystem runs almost entirely on digital rails, driven by Application Programming Interfaces (APIs) that allow banks, apps, and payment platforms to connect seamlessly in controlled, structured ways.
User consent frameworks, robust identity verifications, and secure data flows form the foundation of these open banking ecosystems. This technical architecture, therefore, relies heavily on regulatory guardrails and shared industry standards, allowing Open Banking to scale expansively without compromising trust.
Policies Behind Open Banking
Open banking operates on permission-based access, and not free-flowing data. Policies surrounding it determine who can connect, where information moves, and how consent is managed.
The regulatory focus is straightforward – clarity, stability, and user protection. These standards shape the trust that banks, fintech firms, and customers mutually rely on.
In Indonesia, financial authorities promote innovation while guarding system safety. Policy frameworks encourage banks to open selected services through APIs. These frameworks reduce uncertainty for institutions planning long-term digital investment, and help fintech firms build services aligned with formal banking systems.
Strong policy direction also prevents uneven adoption. It gives banks the confidence to modernize, provides smaller institutions with a reference model to follow, and offers a shared foundation for the market to build on. This ensures open banking in Indonesia develops in complete coordination.
Security Expectations and Data Protection Priorities
Open systems raise valid concerns around data misuse and fraud exposure. Regulators address these risks by enforcing strict security requirements. Identity verification, encryption standards, and access logging have become core obligations. These controls form the backbone of cybersecurity Indonesia – a rapidly emerging sector shaping the country’s financial future.
Banks now design systems with security built into its architecture from the start. APIs enforce permission checks and activity tracking by default. Systems detect and flag unusual access patterns within seconds. Such measures help contain threats before they escalate into breaches that compromise users and platforms.
Moreover, policy guidance pushes institutions to strengthen internal controls. Risk teams, audit units, and IT security groups work cohesively as integrated checkpoints.
This coordination ensures that the expansion of open banking does not weaken the trust it depends on. Cybersecurity Indonesia, as a foundational pillar, allows the financial sector to innovate without increasing risk exposure.
Compliance Structures Enabling Safe Collaboration
Open banking requires multiple parties to work together under a common set of rules, and compliance structures make this possible. By providing a common foundation of trust, they define reporting duties, establish clear audit trails, and clarify lines of accountability. In doing so, these structures reduce disputes, set fair expectations, and support equitable participation across the ecosystem.
Banks and fintech firms align their internal processes with policy expectations. They maintain clear records of data access and customer consent, and regularly test their systems against regulatory scenarios. This level of preparation helps institutions respond confidently to audits, examinations, and policy reviews.
Events must therefore incorporate a compliance conference – where structured discussions on governance, risk, and accountability can take place. These bring policy leaders, regulators, and industry teams together on a common, shared platform for discussions on real-world constraints.
With clearer understanding of compliance, Open Banking initiatives are better positioned to move beyond pilots, and progress into scaled, sustainable deployment.
Innovation Emerging From Policy Support
Policy-backed open banking unlocks practical use cases across the financial sector. For instance, payment initiation services reduce friction for both merchants and users; while account aggregation tools help customers view and manage their finances across multiple banking platforms.
With appropriate consent, credit assessment tools also gain access to better data views, enabling informed lending decisions.
These use cases grow because policy frameworks support responsible data sharing. Banks are able to partner with other banking firms without losing control of their core systems, while fintech firms can innovate without regulatory ambiguity. This balance encourages innovation that remains stable, trustworthy, and firmly user-focused.
Clear digital finance policy, therefore, enables embedded finance models to develop responsibly. One one hand, non-banking platforms integrate payment and credit features in a controlled manner; and on the other, these integrations expand access while also preserving regulatory oversight and consumer protections.
In this way, Open Banking becomes a shared engine for growth rather than a source of competitive risk.
Policy Dialogue and Industry Alignment Platforms
Policy frameworks do not develop in isolation; they evolve through continuous dialogue between regulators and industry participants. This ongoing exchange helps regulations adapt to real-world conditions. Regulators therefore rely on industry feedback to refine guidelines, while institutions depend on clear policy signals to plan investments and long-term strategies with confidence.
A focused, sector-specific platform plays a crucial role in supporting such an exchange. A compliance conference – as mentioned above – helps align regulatory interpretation across banks, fintech firms, and regulators by creating space for open, informed discussions. These conversations reduce confusion, limit uneven application of laws, and help spot emerging risks before they scale.
Ongoing coordination between regulators and industry strengthens Open Banking in Indonesia at a massive scale. It ensures policies evolve alongside technological change. This shared understanding builds trust among participants, positioning Open Banking as a collective responsibility rather than a regulatory burden.
Why WFIS Matters
The World Financial Innovation Series (WFIS) is a large-scale, B2B event designed to bring together banks, fintechs, insurers, microfinance institutions, regulators, and technology innovators under one roof.
Aimed at enabling dialogue concerning the opportunities and challenges regarding regulatory evolution, emerging business models, and pragmatic approaches to digital transformation, WFIS enables a common understanding of evolving policies, market dynamics, and technological innovations – while also creating opportunities for meaningful networking, cross-industry collaboration, and strategic partnerships.
Gateway to Decision-Makers, Innovation, and Expertise
- 600+ senior leaders from banks, fintechs, regulatory bodies, microfinance institutions, and more; representing 200+ leading organizations across the financial ecosystem.
- 40+ industry speakers, alongside 30+ solution providers showcasing groundbreaking innovations.
- A majority of attendees wield strong influence on purchase decisions, offering direct access to key decision-makers across the sector.
Aligned with Regulatory & Innovation Landscape
- Designed in line with Indonesia’s evolving, long-term digital finance agenda – ensuring discussions are directly relevant to regulators, banks, fintechs, and policymakers.
- Equips participants with actionable insights to navigate compliance while identifying business growth opportunities.
Key Topics of Discussion
- ‘Data & AI Democratization in Banking’
- ‘Driving Speed & Trust with AI in Credit Decisioning’
- ‘Unlocking Financial Excellence through Big Data Intelligence’
- ‘Transforming BFSI Customer Engagement’
- ‘AI-Driven Risk Management,’ and more.
Led by the industry’s pioneering experts and thought leaders.
#WFISAwards
- Designed to celebrate outstanding achievements in innovation, leadership, and influence across Indonesia’s financial services ecosystem.
- Offers broad industry exposure and recognition.
- Categories include:
- IT Maestro of the Year
- GRC Advocate of the Year
- Data & Analytics Leader of the Year
- Retail Banker of the Year
- Marketing Leader of the Year
- Cyber Practitioner of the Year
- CX Innovator of the Year
- Woman Influencer in FSI
- Wealth Management Expert of the Year.
Secure your spot today!
Don’t miss out on the chance to meet and learn from the region’s most prestigious industry leaders and regulators, alongside global pioneers to gain firsthand insights into emerging technologies and best practices.
Register today to stay ahead in the evolving landscape of Indonesia – an emerging powerhouse of financial innovation in Southeast Asia.
Event Details
- Date: October 27 – 28, 2026
- Venue: Raffles Jakarta
Connect, learn, and lead! Get in touch today.