00:00Thank you for staying with us, Firsta, and now we will enter the CreateUp segment with our friend, Rosalyn Xiu.
00:12Yes, we are here to discuss the theme of CreateUp, which is interesting this time,
00:15about securing consumer data on various business platforms such as startups,
00:19has been connected via Line Zoom with Sati Rasuanto, Co-Founder and President of FIDA.
00:25Good morning, Mrs. Sati.
00:28Good morning. Good morning.
00:30How are you, Mrs. Sati?
00:33I'm good. I'm healthy. How are you?
00:35I'm good. Thank you for staying with us, Mrs. Sati.
00:38If we talk about the importance of securing consumer data on commercial platforms or business platforms,
00:46especially this is related to deepfake or maybe fraud that steals our data.
00:54Because AI is now growing more and more so that it can be used and become a positive thing.
01:05Yes, but it is also used as a negative thing for people who have bad intentions.
01:11How important is it to protect our data?
01:17Thank you for the opportunity this morning.
01:20So, it is true that the urgency to protect our data, especially in the digital arena, in the cyber arena, is already very important.
01:32At one of the events, coincidentally, FIDA was launching the event yesterday,
01:38one of the speakers said that the cybersecurity issue is the problem of yesterday, not the problem of today.
01:46What is the main problem?
01:48What is called trust is very fundamental to our daily lives.
01:53In the digital arena, it is the same.
01:56Every time there is a data leak, it lowers our trust in what we use.
02:05And the result is we don't want to use that service anymore.
02:09So, when the digital world can no longer be avoided, and we don't believe it,
02:14how can we use something that we don't believe in?
02:18So, it is very urgent for us to do something to protect our data together in the digital world.
02:30Okay.
02:31Joe, this is a threat from deepfake and other threats in cybersecurity.
02:35How far does it attack corporate clients?
02:39Yes.
02:40Actually, there are four attacks based on AI and digital fraud.
02:47The first is usually digital identity fraud.
02:52The second is social or social engineering fraud.
02:55Social engineering is interesting because actually there is no engineering in social engineering.
03:00This is how we can manipulate someone to provide their sensitive data.
03:07Then there is account takeover.
03:11The fourth is the importation of documents and signatures.
03:14So, documents and signature forgery.
03:17So, there are actually four types of digital fraud in general.
03:23The main problem is in Indonesia.
03:26Deepfake fraud trend, for example.
03:28In 2022-2023, it increased by 1,550%.
03:33Imagine.
03:35And 100% of businesses in Indonesia say that they are very concerned about the increase of AI-based fraud.
03:48Okay. Why?
03:49And 4% have experienced it in the past year.
03:53Okay. Why are they concerned?
03:55Because it damages their platform, right?
03:59That's right.
04:00Because in Indonesia, the research shows that if we experience a fraud in the digital world,
04:10our chance of switching is about 70%.
04:14Okay. So, the probability is very high.
04:16Because the term fraud is used to question the protection system.
04:22How can there be data that should be protected?
04:25Because those are the data that we voluntarily hand over to the platform.
04:30Because we trust it.
04:31But then it is breached by other parties.
04:34This is what makes the user become a bait to use.
04:38Even though it is not done by an internal person on the legal platform.
04:45Yes.
04:47Okay.
04:48Okay.
04:49So far, FIDA is known as a service that provides digital identity service and cyber security protection.
04:56Maybe for some people who are not familiar, what kind of protection is provided by FIDA?
05:03Yes. We have three types of services or solutions.
05:08The first one is that we help with identity verification.
05:13Identity verification has a form.
05:15We call it, the product is called document liveness.
05:18So, making sure that the documents used to enter the digital world to register are genuine.
05:25Then the second one is face liveness.
05:28Face liveness prevents fraud by detecting images and photos and videos.
05:35When we open an account or make a transaction, there is usually a selfie process.
05:40Is the selfie true or is it our video, our photo, and so on.
05:46Other verification, we can also do income verification.
05:49So, check the income data accurately using AI.
05:53Then the second one is user authentication.
05:57Here are two services of FIDA.
05:59The first one is phone token, which is how when we make a transaction, it is our cell phone.
06:06It's not a person's cell phone, so fraud can be avoided.
06:10The second one is face token.
06:11So, replacing SMS with face recognition.
06:14So, when we make a transaction, there is usually an SMS OTP.
06:18This face token replaces the SMS OTP with our face.
06:22Okay. Interesting.
06:24We will continue in the next segment.
06:26Ms. Sati and Mr. Rizal, stay with us. We will be right back.
06:30Yes, Mr. Rizal. Thank you for staying with us.
06:32And still connected through LINE ZOOM with Sati Rasuanto, Co-Founder and President of FIDA.
06:38Okay, Ms. Sati.
06:39We had a chance to ask,
06:42is the client of FIDA more of a retail or corporate?
06:52It's B2B2C.
06:53So, we work a lot with platforms such as fintech platforms, banking platforms, e-commerce platforms,
07:01to be the engine behind it.
07:06To help them secure their platform.
07:10Okay, so it's B2B.
07:12So far, what is the feedback from the client from the various services provided by FIDA, Ms. Sati?
07:20Yes, because this is a very urgent problem right now.
07:24So, the reception from our services is very good.
07:30First, of course, all businesses want to protect their own consumers from fraud threats.
07:40Second, from the government's side, our government is actually very concerned
07:46and asking digital services to adopt technology with the right standards
07:52to ensure that the consumer is protected when transacting in the digital world.
07:59Okay, so far, is there any protection guarantee given to the client when they are worried about fraud,
08:07even though they have collaborated with a digital service company like this?
08:10Or the certification related to the security service.
08:15Yes, from FIDA, we have a service called FIDA Identity Stack.
08:19FIDA Identity Stack is indeed a toolbox for optimal protection.
08:30How can we prevent identity fraud up to 99.9%
08:35through the use of AI technology, encryption end-to-end, and so on.
08:41Okay, so far, how many clients have been served by FIDA, Ms. Sati?
08:46Yes, currently, from the user side, the number of users who use us is tens of millions.
08:51Because various business services that use FIDA are usually very large platforms.
08:57For example, from fintech, from banking, both digital and conventional,
09:02digital health services, e-commerce, and so on.
09:06So, the platforms that use FIDA are usually platforms with millions of users.
09:12So, currently, the number of users who use FIDA is millions.
09:16Okay.
09:17Speaking of profitability from the company itself, FIDA as a business entity,
09:21has it already profited so far, or is there a target for profitability, Ms. Sati?
09:26Yes, currently, as a business entity, our focus is still on providing solutions
09:33to the customers and businesses that we help.
09:38And the commitment is to continue to innovate, to continue to grow,
09:42to provide maximum added value.
09:44So, the trust in our services, which are actually cybersecurity services,
09:48especially the local ones, is still new.
09:51FIDA itself is only 5 years old.
09:54So, the focus right now is still to strengthen it.
10:00Okay, good luck for all FIDA targets in the future.
10:04Ms. Sati, thank you for being with us. Good luck to you.
10:07I'll see you soon.
10:08Thank you, sir.
10:11Okay, we will update the next movement from IISG.
10:15We are at 9 o'clock, more than 27 minutes, in West Indonesia.
10:26Okay, IISG so far is moving weakly, with a 1.82% weakness, significantly weakening,
10:31from the closing level of trading yesterday, it was at level 7,900,
10:36now it is at level 7,761.
10:38The top gainers are eSATWARE, then also DMR, LSIP, AMRT, DSNG, PTMP, TAPG,
10:45AALI, MAPI, and also DEPO.
10:48Meanwhile, the top losers come from BRPT, Cuan PTRO, PANI, Brand, TPIA, ASEI,
10:54Pegas, PSAB, and also TOBA.
11:02Okay, Mr. Mirsa, we have accompanied you for 90 minutes in Power Breakfast.
11:06Hopefully this discussion can be a reference and source of information for you.
11:10Yes, of course.
11:11Your latest information can only be found on IDX channel,
11:14your trustworthy and comprehensive investment reference,
11:16and the way to complete the market review program,
11:18which will air at 10 o'clock, West Indonesia time.
11:22Yes, because the future must be the future.
11:24I am investor Saham, I am Rosalind Cio and my colleague.
11:26Thank you, Adrian. See you next time.
11:28Thank you, Adrian. See you next time.
11:58Thank you, Adrian. See you next time.
Comments