Hassle-Free Financial Apps

RAFI Putra Arriyan was relieved when Bank Indonesia gave the green light for him to operate Flip-a-Finance, an application he developed. The payment systems regulator had granted him permission to do fund remittances (KUPU). "Flip resumed normal operations since October 12," Arri told Tempo last week.

Even with a license in hand, Arri said he must still comply with a few more requirements, among others, the know-your-customer (KYC) procedure, where a face-to-face verification must be done with users to increase online security. "We're trying to design the best system possible," said Arri.

October 25, 2016