Indonesia's Financial Services Authority (OJK) published an update on Sultan Muda Digination Fest 2025, a joint initiative with the South Sumatra Provincial Government in Palembang aimed at promoting digital innovation among young people as a way to expand financial inclusion. In remarks delivered at the event, OJK highlighted the rapid acceleration of Financial Sector Technology Innovation in Indonesia and framed the current period as critical for strengthening the regulatory and supervisory foundations for the national digital finance ecosystem. Following an accelerated evaluation of the regulatory sandbox involving more than 100 participants, OJK designated two new financial services business models: Alternative Credit Scoring (Pemeringkat Kredit Alternatif, PKA) and Financial Services Aggregation Providers (Penyelenggara Agregasi Jasa Keuangan, PAJK), positioning both as tools to broaden access to financing, increase information transparency, and support financial inclusion. The festival runs from 17 to 19 October 2025 and includes a summit, a financial expo and entrepreneur zone, a competition, and a Digination Run that also serves as the launch moment for the Sultan Muda Privilege Card. OJK reported participation of more than 4,500 people across seminar and expo activities and the run.
OJK 2025-10-18
Indonesia's Financial Services Authority designates alternative credit scoring and financial services aggregation as new regulatory sandbox models at Sultan Muda Digination Fest 2025
Indonesia's Financial Services Authority (OJK) announced two new financial services models, Alternative Credit Scoring and Financial Services Aggregation Providers, at the Sultan Muda Digination Fest 2025. These models aim to enhance financing access, increase information transparency, and support financial inclusion. The event, in collaboration with the South Sumatra Provincial Government, highlighted the rapid growth of Financial Sector Technology Innovation in Indonesia.