“Personal Data Protection Arrangement Plan as Balancing the Rapid Digital Technology in the Financial Services Sector”

Friday, August 20, 2021 

The existence of digital technology has led to huge amounts of data being collected from users, shared and analysed. Most of this data is collected from customers by companies related to banking, insurance, financial institutions, e-commerce, social networks and so on. Without realizing it, the use of our personal data has been used on various occasions by various companies. The data consists of transactional data, search data, health data, which includes a lot of personal data. On the one hand, this data is considered valuable by the company because it can still be used for various commercial purposes. At the same time this data is considered sensitive because it contains the personal information of its customers. Therefore, the use of personal data by the company and any party that manages the data must ensure that personal information is not misused which ultimately causes losses to the owner of the personal data. 

In this context, data privacy related to the protection of customer identity is a top priority for all companies. The company has the responsibility to ensure the use of personal data while data owners such as customers or consumers also have personal data protection.

The idea to provide personal data protection has actually been initiated for a long time. The number of cases of leakage of personal data that can cause losses to data owners or even criminal acts encourages the government to accelerate the regulation of personal data protection. (KOMINFO) Indonesia has several sectoral regulations relating to the protection of personal data. Starting from the Law on Banking, Telecommunications, Population Administration, Health and other sector regulations.

Protection of personal data has also been regulated in several Government Regulations (PP), including PP Number 82 of 2012 which was later revealed in the Minister of Communication and Information Technology Regulation Number 20 of 2016 concerning Protection of Personal Data in Electronic Systems. Protection of personal data is crucial in line with the rapid development of information and communication technology. Personal data has become a high-value asset/commodity in the era of big data and the digital economy. On the other hand, personal data is something that must be protected because it is part of human rights (HAM) and has been mandated by the constitution of the Republic of Indonesia through the 1945 Constitution.

Efforts to protect personal data are important to ensure the right of citizens to personal protection. and raise public awareness and ensure recognition and respect for the importance of protecting personal data. The concept of personal data protection implies that individuals have the right to decide whether to share, limit or exchange personal data. The government needs to be present to ensure the protection of personal data in a regulation.

On the other hand, the campus academic community, especially the economics and business campuses also need support from regulators or other expert practitioners to update their information and knowledge. Likewise with the Indonesia Banking School Economics and Business campus, which is closely related to the development of the financial industry and the protection of personal data.

Referring to the above, STIE Indonesia Banking School (IBS) plans to hold a Public Lecture National Webinar with the theme “Personal Data Protection Arrangement Plan as Balancing the Rapid Digital Technology in the Financial Services Sector”. To that end, IBS respectfully invites Mr. Johnny Plate, Minister of Communication & Information Technology of the Republic of Indonesia and the submission of Opening Remarks, Mrs. Rosmaya Hadi, Deputy Governor of Bank Indonesia.