OJK Revokes Bank Neo
Otoritas Jasa Keuangan has officially imposed administrative sanctions on PT Bank Neo Commerce Tbk (BBYB) at the end of March 2026. The revoked license is related to the bank’s status as a Marketing Partner of Securities Broker-Dealers (MPPE). So, what actually happened, and are customer funds safe?
What Happened?
According to OJK’s announcement dated March 26, 2026, the regulator revoked the certificate of registration for Bank Neo Commerce as an institutional-level MPPE.
This decision was made after OJK found that the company had not conducted any activities as a securities marketing partner within one year of obtaining the license.
Formally, OJK imposed administrative sanctions in the form of revoking the MPPE registration. The bank was deemed to have violated provisions under POJK Number 21/POJK.04/2021, which regulates the validity period and operational requirements for MPPE entities.
Why Was the License Revoked?
The reason is straightforward and administrative in nature.
Referring to Article 11 paragraph (1) of POJK Number 21/POJK.04/2021, any institution granted a marketing partner license must begin its activities within one year of issuance.
However, based on OJK’s evaluation, Bank Neo Commerce did not carry out any such activities within the required timeframe.
In other words, the license was revoked not due to serious violations or fraud, but simply because it was never utilized.
Bank Neo Commerce’s Clarification
Bank Neo Commerce’s management clarified that the revocation does not affect its core banking services.
The President Director, Eri Budiono, explained that the revoked license was related to a planned stock trading referral program that had not yet been launched.
This program was intended as part of the bank’s wealth management development. However, since it was still under development, it had not been introduced to customers.
Are Customer Funds Safe?
This is the most important concern for users of digital banking services.
The answer is: yes, customer funds remain safe.
Bank Neo Commerce confirmed that all its active banking services are fully licensed and supervised by both OJK and Bank Indonesia.
Products such as digital savings, mutual fund investments, bancassurance, and digital gold trading continue to operate normally under proper regulatory oversight.
Consequences for Bank Neo Commerce
Although there is minimal impact on customers, the bank still faces certain consequences.
Following the revocation, Bank Neo Commerce is no longer permitted to act as a marketing agent for securities products.
Additionally, the company is required to fulfill its administrative obligations to OJK, including annual fees and any outstanding penalties.
Key Takeaways from This Case
This case serves as an important reminder for the digital financial industry in Indonesia.
The revocation highlights that regulatory compliance is not just about obtaining licenses, but also about actively utilizing them in accordance with the rules.
OJK continues to strengthen its oversight of financial institutions, including digital banks. Even unused licenses can result in sanctions.
Conclusion
The revocation of Bank Neo Commerce’s MPPE license by OJK is not an indication of financial instability or bankruptcy.
Instead, it reflects an administrative compliance issue related to an unused license.
For customers, there is no need to worry. Banking services remain secure and operational. However, this case signals that regulators will continue to enforce strict discipline to maintain the stability of the financial system.
Stay Ahead in Regulatory Compliance
The increasing regulatory oversight from Otoritas Jasa Keuangan shows that businesses must be prepared—not only in innovation but also in compliance.
If your business operates in digital finance, fintech, or technology-based services, it is essential to ensure that your verification processes, data security, and regulatory compliance are fully optimized.
Leverage digital solutions such as eKYC, biometric verification, and electronic signatures to strengthen your operations while meeting regulatory standards.
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