The Indonesia Fintech Summit (IFS) 2022 was held at the end of last year to bring together fintech founders, financial institutions, regulators, investors, academics, and other stakeholders to expand networking and formulate strategies to accelerate digitalization in the financial services industry. This year marks the fourth edition of the IFS, which has been consistently held since 2019. The IFS is the flagship program of National Fintech Month 2022, which is also supported by various Industry/Ministry Institutions, digital financial industry associations, and international partners.
One of the key players in the Indonesian fintech industry is VIDA, a digital service provider that participated in the summit to help advance the fintech industry in Indonesia. VIDA emphasized the importance of secure digital identity and how to create a digital signature, which is crucial in the digitalization of financial services.
In addition to financial services, digitalization has also impacted document signing, which can now be done digitally. This has led to the emergence of digital signatures that can be created anywhere and save time. The validity of digital signatures is also regulated by Law Number 11 of 2008 concerning Electronic Information and Transactions (ITE), which regulates the use of electronic signatures and certificates and has the same function as wet signatures.
Unlike wet signatures that can be easily copied and misused by others, digital signatures based on electronic certificates have a high level of security, making them difficult to forge. Digital signatures also have the advantage of detecting the authenticity of the user, as well as when and where the signature was made. Creating a digital signature is also easy, taking only seconds to complete. This solution can make the signing process more efficient and can be done anywhere, making it a valuable tool for businesses and individuals alike.
The IFS 2022 provided a platform for stakeholders to exchange knowledge and ideas on how to accelerate digitalization in the financial services industry, as well as in other areas that are impacted by digitalization, such as document signing. The summit showcased the importance of secure digital identity and how it can be used to enhance the efficiency and security of financial services. With the growing popularity of digital signatures, it is essential to ensure that users are aware of their legal status and the regulations governing their use. The IFS 2022 has helped to raise awareness of these issues, and it is hoped that the discussions and collaborations that took place at the summit will lead to further innovation and development in the Indonesian fintech industry.
VIDA as a trusted Certificate Authority (CA)
One of the trusted CAs in Indonesia is VIDA. VIDA is an official CA registered with the Ministry of Communications and Information Technology. VIDA has been a registered CA since 2018 and has collaborated with various companies to implement secure, easy, and certified digital signatures. Digital signatures created with VIDA Sign use user biometric verification, minimizing fraud and protecting user identities. Its easy and fast process makes VIDA a choice for document signing, including company tax reports.
VIDA also implements world-class technology standards certified and recognized internationally by passing audits and obtaining various local and global certifications. In Indonesia, this company became the first WebTrust-accredited CA and registered as a safe electronic signature service provider approved by Adobe (Adobe Trust Service Provider) in the Adobe Approved Trust List (AATL), also certified ISO 27001 for the implementation of information security management standards. Please get in touch with us for more information about VIDA Sign.
Identity Verification Process in Digital Signatures
Digital signature service providers like VIDA offer various options for verifying identity before users can create digital signatures. One of the easiest things to do is verify email and telephone numbers; some verify based on identity cards.
In addition to verifying personal data from users, VIDA performs verification that is not done by other digital signature providers, namely through a biometric verification process by comparing the user's facial biometrics with biometric data recorded in the national population data. This biometric verification is also equipped with liveness detection, which helps detect that the user verifying is genuine.
We can work more efficiently by knowing how to create an easy, fast, and secure digital signature. With all the security features that VIDA has, it is expected to give digital trust to the public to use fintech services.