VIDA and Flash Mobile join hands to build an e-certificate-based digital identity system for a convenient and safe digital financial service
Jakarta, February 13, 2022 - PT Indonesia Digital Identity (VIDA), the leading digital trust provider in Indonesia, announced its strategic partnership with PT FM Digital Solution (Flash Mobile), a payment gateway provider and biller aggregator developed by PT MNC Kapital Indonesia Tbk (IDX: BCAP). Through this synergy, VIDA and Flash Mobile will work together to build a trusted financial sector, while also prioritizing digital trust in various financial services, especially those provided by MNC Group. The partnership is a result of the mutual objective of the two firms to establish a digital financial service ecosystem in Indonesia that is safe, user-friendly, and inclusive.
Flash Mobile offers integrated real-time access to various payment methods and collects bill payments from MNC Group billers and 2,500 other merchants through a single API integration. In this partnership, VIDA offers VIDA Verify, an online identity verification service based on electronic certificates issued by VIDA itself as an Electronic Certificate Authority (PSrE) under the Ministry of Communication and Information Technology (Kominfo). The partnership will enhance Flash Mobile’s fintech operations to include services such as online identity authentication, as well as various electronic certificate-based features like digital signatures and multi-factor authentication, with the help of biometric technology.
Jessica Tanoesoedibjo, Director of PT FM Digital Solution, said, “A comprehensive digital identity service integration through Flash Mobile for various financial services within MNC Group is a vital business step for us. Therefore, we are pleased to partner with VIDA, who can help us provide a secure and convenient digital identity service. This is a manifestation of our commitment to implement world-class security and privacy systems for our large user base at MNC Group. Through this collaboration, we hope that Flash Mobile and MNC Group can continue to innovate to promote an inclusive digital financial ecosystem and contribute to the national economy.”
This partnership is in line with Flash Mobile's role in strengthening the value of MNC Group in the era of digital disruption, which is emphasizing security for large-scale digital financial services. Based on a study conducted by Google, Temasek, and Bain & Company, non-cash payments in Indonesia will keep growing in terms of gross transaction value and reach USD 421 billion by 2025, with a compound annual growth rate of 17% since 2022.1 This enormous potential certainly requires digital trust to be entrenched so that users may feel increasingly confident in conducting digital transactions.
Niki Luhur, Group CEO and Co-founder of VIDA, said, "With the extremely volatile trend of cybercrime threats, especially in the financial sector nowadays, public trust in digital security is key to national digital economy growth. As a digital trust provider, VIDA is committed to providing not only secure digital identity technology but also easy-to-access and consumer-friendly 1 Google, Temasek, Bain & Company, e-Conomy SEA 2022 (2022) systems. Therefore, we are proud to collaborate with MNC Group through Flash Mobile to jointly present secure, convenient, and easily accessible digital identity technology for users. This collaboration stems from the shared mission of VIDA and Flash Mobile to deliver an integrated digital experience and sustainable growth for stakeholders.”
As a leading digital identity provider, VIDA continues to uphold three important values presented through its products, namely Speed, Scale, and Secure. Speed refers to VIDA's technology capabilities to process, verify, and authenticate user data quickly. Secure means extra assurance of user data security through end-to-end encryption that has been guaranteed by various global accreditations such as ISO 27001 and WebTrust. Scale refers to VIDA's ability to process data on a large scale, which is demonstrated in this collaboration. "VIDA's world-class technology is not only able to facilitate safer and more legal digital financial services but also more user-friendly and able to help companies increase their business scale and accelerate growth. With Flash Mobile's strategic position at MNC Group that has a wide range of services, we are confident that this collaboration will have a broader contribution by helping the national digital transformation agenda in various sectors. Our hope is that this collaboration can be a joint effort to build an inclusive digital financial service ecosystem in Indonesia," closed Niki.
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About PT FM Digital Solution
PT MNC Kapital Indonesia Tbk, part of MNC Group, established PT FM Digital Solution as a payment gateway andbiller aggregator company for all financial transactions within MNC Group. In January 2021, Flash Mobile obtained a license as a payment gateway service provider from Bank Indonesia.
Flash Mobile supports businesses, from SMEs to corporations, through a wide variety of payment solutions. These include bank transfers, debit and credit cards, retail outlets, installment packages, and e-wallets. With a license from Bank Indonesia, Flash Mobile also provides fraud detection and invoice systems as its value-added services.
In addition, Flash Mobile acts as an exclusive biller aggregator for all bill payments within MNC Group, including recurring payments and purchases of voucher products offered by MNC Vision, MNC Play, MNC Finance, and others. It has more than 2,000 multibiller products that are integrated with various platforms.
As a company committed to growing with its partners and creating a digital financial ecosystem with the highest security standards, Flash Mobile provides electronic signature, e-KYC, and P2P lending services that comply with the regulations of the Indonesian Financial Audit Agency. These services are equipped with ISO 27001, which guarantees the security of every transaction.
About PT Indonesia Digital Identity (VIDA)
PT Indonesia Digital Identity (VIDA), an electronic certificate provider (PSrE) and Certificate Authority (CA) registered and rooted under the Ministry of Communication and Information Technology of the Republic of Indonesia, is a trusted body that has the authority to issue electronic certificates for certified electronic signature requirements. Founded in 2018, VIDA is a digital identity service provider that utilizes electronic certificates to provide multi-factor authentication, electronic signatures, and verified identity services. VIDA implements world-class data security standards, including public key infrastructure, facial recognition (biometrics), and network security for a comprehensive data security solution.
In addition, VIDA is registered as an organizer of Digital Financial Innovation (IKD) in the eKYC cluster and regulatory sandbox at OJK. Products and solutions offered by VIDA can be adopted by various sectors and industries, including the financial services industry that can verify customers not only more safely because they are based on electronic certificates but also faster because they use biometric verification via a population database for identity verification.
VIDA also implements world-class technology standards, and it is internationally certified and recognized through audits and various accreditations. In Indonesia, the company is the first WebTrust accredited PSrE and is registered as a secure electronic signature service provider and has been approved by Adobe (Adobe Trust Service Provider) on the Adobe Approved Trust List (AATL). It is also ISO 27001 certified for implementing information management security standards.
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