BI Wins Cyber ​​Resilience Initiative at Central Banking's FinTech RegTech Global Awards 2022

- 23 June 2022 10:18 WIB
 Central Banking's FinTech RegTech Global Awards 2022. (Photo/BI)
Central Banking's FinTech RegTech Global Awards 2022. (Photo/BI)

JAKARTADAILY.ID – Central Banking Publication (CBP) awarded Bank Indonesia (BI) "the Cyber ​​Resilience Initiative" at Central Banking's fintech RegTech Global Awards 2022.

BI won this award for its efforts to strengthen Cyber Resilience both internally and within the financial industry.  BI realized these Cyber Resilience efforts through the launch of the Cyber ​​Security Culture Program.

“Cyber ​​resilience must be pursued in human, process, and technological aspects. In this Cyber ​​Security Culture Program, we do not only focus on humans as a crucial factor but also holistically so that together we can build a stronger financial ecosystem, said Juda Agung in a press statement published on the BI website, Tuesday, June 21, 2022.

Also Read: Bank Indonesia Publishes Data on Digital Economic and Financial Transactions and BI-FAST Participants

Other efforts made by BI, continued Juda Agung, are to build an inter-institutional Cyber Resilience center in Indonesia and build a response team for computer incidents related to financial security.

"There is no ultimate weapon to guarantee an organization regardless of cyber threats, therefore it is necessary to have a layered security approach that includes people, processes, and technology," he said.

CBP is a publication that focuses on the discussion of public policy and financial markets, with an emphasis on central banks, international financial institutions, and financial market infrastructure and regulation.

A total of 19 awards were awarded by CBP, taking into account the technological achievements of central banks, supervisors, and commercial technology providers.

Also Read: Bank Indonesia to Relax Statutory Reserve Requirements for Loans to Priority Sectors and MSMEs

In the fifth annual award, Bank Indonesia is side by side with other central banks that have received awards, including the Central Bank of Brazil (Brasil) in the Data Management Initiative category, Bank of Ghana (Republic of Ghana) in the fintech Policy of the Year, and Bangko Sentral ng Pilipinas (Philippines).

The achievements in the international arena are an important record, but they are not only a single measure or final goal.

The initiative to strengthen cyber-resilience by BI needs to be carried out not only from and for BI, but also requires synergy with the financial industry and the community.

"In the future, Bank Indonesia together with related institutions and the financial industry will seek to strengthen Cyber Resilience in order to maintain financial system stability," concluded Juda Agung.

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Editor: Suksmajati Kumara


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