Japan and Indonesia link in FinTech cooperation alliance

Japan’s Financial Services Agency (FSA) and the Financial Services Authority of Indonesia (OJK) have exchanged letters on a framework for boosting innovation in FinTech.

According to the FSA, the FinTech Cooperation Framework will help lead to increased exchanges regarding innovative trends and strengthen the cooperative relationship between the two authorities.

In addition, the cooperation framework also includes referral mechanisms for financial innovators, which will help facilitate their entry into Indonesian or Japanese markets.

The FSA said, “Indonesia and Japan have built connections with each other in the field of supervision and other financial cooperation. As innovative financial services expand on a global scale, tightening the relationship between authorities becomes more important.”

The FSA recently revealed that it will mandate listed firms to disclose the ratio of women in managerial positions as it reeks to further raise the glass ceiling.

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