This Yogyakarta-Based Startup Leads Indonesia's Digital Signature Market

Press Release: For Immediate Release

Yogyakarta, February 1, 2019

PrivyID, a Yogyakarta-based digital signature startup, has developed digital signature technology that is now used by approximately 3 million Indonesians. PrivyID’s digital signature is the only one from a private provider that complies with Article 11, Paragraph 8 of the ITE Law and the Ministry of Communication and Information Technology’s regulations on digital signatures.

“PrivyID’s digital signature, which has been recognized by Bank Indonesia and the Ministry of Communication and Information Technology, was developed by many young people in Yogyakarta. By introducing PrivyID to the government and the public, we want to demonstrate the significant impact generated by the work of Yogyakarta’s youth,” said Marshall Pribadi, CEO of PrivyID.

PrivyID is indeed a startup born and raised in Yogyakarta by its two founders, Marshall Pribadi (CEO) and Guritno Adi Saputro (CTO). The number of PrivyID employees at the Yogyakarta office has reached 161 young people, comprising developers, verifiers, customer service representatives, and helpdesk staff. As many as 80% of the PrivyID Yogyakarta team are native residents or previously pursued higher education in Yogyakarta.

One of PrivyID’s founders, Guritno Adi Saputro—affectionately known as Abby—is also a native of Yogyakarta. Abby, who currently serves as Chief Technology Officer, is an alumnus of the AKPRIND Institute of Science & Technology in Yogyakarta. “Digital signature products didn’t exist in Indonesia at first, but because the young people from Yogyakarta who helped develop PrivyID from the very beginning already possessed great potential, interest, and enthusiasm, PrivyID was ultimately able to become a pioneering startup in digital signatures in Indonesia,” said Abby, CTO of PrivyID.

On a 1,196 m² lot, PrivyID built a new office called Privy Quarter, featuring a semi-outdoor design with sports facilities such as badminton and basketball courts, as well as a ping-pong table, all intended to motivate PrivyID employees to stay fit. Along the edge of the court are four shipping containers that have been converted into workspaces for developers. The office’s intentionally open design is also meant to allow team members to communicate freely and foster a close-knit, family-like atmosphere.

The Only One Recognized by Bank Indonesia and Kominfo

PrivyID’s digital signature is the only digital signature from a private provider that complies with Law No. 11 of 2008 on Electronic Information and Transactions (ITE Law), Government Regulation No. 82 of 2012 on the Implementation of Electronic Systems and Transactions, and Ministry of Communication and Information Technology Regulation No. 11 of 2018 on the Implementation of Electronic Certification.

PrivyID’s digital signature employs asymmetric cryptography technology combined with military-grade storage hardware, making it forgery-proof, capable of detecting any changes made to a document, and uniquely representing the identity of each signer.

Users of the PrivyID digital signature include customers and clients of large corporations such as Telkom Indonesia and Kawan Lama Group, financial institutions such as Bussan Auto Finance, MPM Finance, and Adira Finance, national banks such as Bank Mandiri, BRI, and CIMB Niaga, and will soon reach women micro-entrepreneurs in remote areas through a partnership with the fintech company Amartha.

According to PrivyID’s research, major leasing companies like Bussan Auto Finance can reduce their logistics costs from 5.4 billion rupiah per month to just 70 million rupiah per month after adopting PrivyID’s digital signature.

About PrivyID

PrivyID is a digital signature startup founded in 2016 with a mission to provide technology that offers users a single, universally integrated identity in the digital world. PrivyID is the first private electronic signature provider to meet the requirements set forth by Law No. 11 of 2008 on Electronic Information and Transactions (ITE Law), Government Regulation No. 82 of 2012 on the Implementation of Electronic Systems and Transactions, and Ministry of Communication and Information Technology Regulation No. 11 of 2018 on the Implementation of Electronic Certification. PrivyID is also the first Indonesian startup to obtain ISO/IEC 27001:2013-compliant information security certification.

To date, PrivyID has 3 million digital signature users, including customers and clients from major corporations such as Telkom Indonesia, CIMB Niaga, Bank Mandiri, Bussan Auto Finance, MPM Finance, Adira Finance, Kawan Lama Group, Bank BRI, as well as startups and small and medium-sized enterprises such as AwanTunai, Klik Acc, Kerjasama.com, and Sewa Kamera.