AS a Depository and Settlement Institution (LPP) in the Indonesian Capital Market, PT Kustodian Sentral Efek Indonesia (KSEI), continues to strive to develop infrastructure and services for the Indonesian capital market.
One thing that has been done is developing data and document storage services to make it easier for Financial Services Providers (PJK) and investors in the process of opening accounts and updating investor data through the Centralized Investor Data Management System or CORES.KSEI platform.
“CORES.KSEI is a data and document storage service to make it easier for PJK and investors to open investment accounts and update investor data. “This development refers to the Financial Services Authority Regulation (POJK) Number 15 of 2023 concerning the Implementation of Administration Services on the Know Your Customer Principle or LAPMN,” explained KSEI Main Director Samsul Hidayat, quoted on Tuesday (23/4).
Samsul said that with CORES.KSEI, investors who want to open a new investment account at another PJK do not need to repeat the process of submitting data, information and documents so it is easier and more efficient.
“Investors and PJK who are users of KSEI services can use data that has been stored on the CORES.KSEI platform,” he added.
If an investor wants to update the data because there is the latest data, the investor only needs to inform and submit the documents to one of the PJKs.
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The CORES.KSEI platform will send notifications of data updates to other PJKs where investors are customers. Apart from that, KSEI also ensures the security and confidentiality of centralized and distributed data through CORES.KSEI.
“All data shared with other PJKs must obtain investor approval, so there is no need to worry because investor data and documents remain secure and confidential,” he continued.
Furthermore, Samsul explained, to be able to use the data stored in CORES.KSEI when opening an investment account at another PJK, investors only need to mention the Single Investor Identification (SID) number and agree to share data which can be done via email or the AKSes facility ( Securities Ownership Reference).
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KSEI hopes that the ease of opening investment accounts can have a positive impact on the growth of the number of investors in the capital market, supported by digital-based platforms.
“The hope is that the CORES.KSEI platform can support accelerated market deepening through the ease of the Customer Due Diligence (CDD) process carried out by PJK for prospective customers, so that the number of investors in the capital market can grow faster through an electronic-based platform,” he concluded.
CORES.KSEI was officially launched by the KSEI Board of Commissioners and KSEI Board of Directors in Jakarta on March 5 2024. The launch was also witnessed by the Head of the Securities Institution Supervision Department of the Financial Services Authority (OJK) Ona Retnesti Swaminingrum, the Board of Commissioners and Directors of PT Bursa Efek Indonesia (BEI) and PT Kliring Penjaminan Efek Indonesia (KPEI), as well as representatives of Indonesian capital market associations. (RO/Z-1)
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