(Photo courtesy of IRLA)
New Association Focuses on Helping Public Better Understand Law
SEPTEMBER 20, 2017
Jakarta. Several technology companies focusing on legal and financial services have teamed up with law firms to form the Indonesian Regtech and Legaltech Association, or IRLA.
IRLA said in a statement on Monday (18/09) that the association seeks to serve as a joint forum providing open guidance as well as discussions to promote regulatory inclusion for Indonesians through technological innovations.
Indonesian regulatory technology companies (regtech), legal technology companies (legaltech) and law firms will work together to improve legal literacy in the country to help people reduce misunderstandings and erroneous interpretations of regulations.
IRLA expects to partner with the government and regulatory bodies.
"By nature, the law is an inseparable part of our daily lives. However, this condition is not yet supported by our society's low level of understanding of the law and its body of regulations," IRLA said in the statement.
Regtech companies offer a range of tools to help users access, understand and comply with regulations, while legaltech companies provide products and services to help users access tailored legal documents and advice through innovative technology.
"In this day and age, technology has transformed entire industries, including finance, transportation, immigration and payments – now is the time for technology to transform how we understand and abide by the law. Technology has the potential to change how the law is viewed by society – from something complex and scattered, to a set of information that is easy to access and actually intuitive to read," IRLA said.
"Regtech and legaltech have only been able to rise this quickly due to the support of the government and all of its regulatory bodies. In addition, regtech and legaltech have also been well-received by existing industries as both do not directly disrupt or replace the more traditional players in the space," said Charya Rabindra Lukman, chairman of IRLA and chief executive of Lawble, a regtech company.
"This is why, going forward, the potential for growth is due to how much the government is willing to support this growth. We will definitely support and work with the government and other regulatory bodies," Charya said.
"Our focus is on the people and how we can have them better understand the law, not only businesses or even legal practitioners. As IRLA, we will set aside our individual business interests and focus on regulatory inclusion," he said.
Some high-profile regtech and legaltech entrepreneurs, including Charya, Rahmat Dwi Putranto, Marshall Pribadi, Ivan Satrio Lalamentik, Dimas Prasojo, Evandri Pantouw and Arief Wicaksono, are among the founders of IRLA.
The organization's board of advisors includes Andre Rahadian, partner and founder of law firm Hanafiah Ponggawa & Partners, and M. Ajisatria Suleiman, executive director of FinTech Indonesia, an industry association for financial technology companies.
"The unique point about this association is that competitors become friends within the association, because we have a common 'enemy' that is potentially blocking the innovation we are trying to build. Also, to join this association, a member should, firstly, have built something that aims to improve the legal industry. I expect to build a healthy, great regtech and legaltech innovation ecosystem in Indonesia," says Rahmat, chief executive and founder of LegalGo, an online marketplace for legal services.
Rahmat said he expects the association to bring together individuals and business from all sectors to modernize Indonesia's legal industry.