POJK Number 11/POJK.03/2022: Implementation of Information Technology by Commercial Banks

The Financial Services Authority Regulation (POJK) Number 11/POJK.03/2022 on the Implementation of Information Technology by Commercial Banks is a strategic step in strengthening Indonesia's banking information technology (IT) infrastructure. This regulation is designed to ensure that commercial banks have reliable, secure IT systems capable of effectively supporting digital transformation. Below is a detailed explanation of the key points regulated in this POJK:

1. Information Technology Governance

Banks are required to establish IT governance aligned with their strategy and business objectives, including:

Planning, procurement, management, and supervision of IT.

Consideration of the bank's size and complexity.

The role of IT in operations and potential risks.

2. Information Technology Architecture

Banks must have a comprehensive IT architecture that includes:

Planning, design, implementation, and control of IT.

Integration of all IT components to support bank operations.

A strategic IT plan aligned with long-term business plans.

3. Information Technology Risk Management

Banks are required to implement IT risk management, including:

Identification, measurement, monitoring, and control of IT risks.

Development of a Disaster Recovery Plan (DRP) that is tested and reviewed annually.

4. Cyber Resilience and Security

Banks must ensure cyber resilience and security through:

Identification of assets and threats.

Protection of assets and detection of cyber incidents.

Regular cybersecurity testing.

Establishment of a dedicated unit to handle cyber resilience and security.

5. Use of Third-Party IT Service Providers

If banks utilize services from external IT providers, they must ensure:

The ability to supervise and control the work of service providers.

Clear policies and procedures for selecting and evaluating IT service providers.

6. Electronic System Placement

Bank electronic systems must be placed in data centers and disaster recovery centers within Indonesia.

Placement abroad is only allowed with special permission from the OJK.

7. Data Management and Personal Data Protection

Banks are required to manage data while considering:

Ownership, quality, and integrity of data.

Protection of customers' personal data from unauthorized access and use.

8. Provision of IT Services by Banks

Banks are allowed to provide IT services to other financial institutions after obtaining approval from the OJK, including:

Banking application services for other financial institutions.

Expansion of the digital banking ecosystem.

9. Internal Control and Internal Audit

Banks must conduct periodic IT internal controls and audits, including:

IT audits to assess system effectiveness.

Regular review of internal controls to ensure compliance with established policies and procedures.

10. Reporting

Banks are required to submit IT-related reports to the OJK, including:

Strategic IT planning and development.

The current condition of IT operations.

Incident reports through the electronic system designated by the OJK.

11. Bank Digital Maturity Level Assessment

Banks must conduct a self-assessment of their digital maturity level at least once a year, covering aspects such as:

IT governance, IT architecture, and risk management.

Cyber resilience and security.

Consumer protection and technology collaboration.

With the implementation of POJK Number 11/POJK.03/2022, the OJK aims to enhance IT security and resilience standards in Indonesia's banking industry.