OJK Issues Guidelines for Self-Assessments of Bank Digital Maturity Levels

In October 2022, the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) issued Regulation No. 11/POJK.03/2022 of 2022 (“ Regulation 11/2022 ”) on the Organization of Information Technology (“ IT ”) for Commercial Banks (“ Banks ”) in order to accommodate the utilization of IT-based banking operations. [1] Among other provisions, Regulation 11/2022 obliges Banks to conduct self-assessments of their digital maturity levels (“ Assessments ”). [2]