117 More Fintech Lending Firms Register to OJK

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Mahinda Arkiyasa

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  • TEMPO.CO, JakartaThe Financial Services Authority (OJK) recorded a significant increase in the number of financial technology or fintech peer-to-peer (p2p) lending company in the past few years. To date, 99 fintech platform have registered to OJK.

    "There are 117 companies willing to be registered and are on progress," said the executive head of OJK non-bank financial institutions supervision Riswinandi on Friday, March 8, 2019.

    According to Riswinandi, one of the requirements for fintech lending platforms to be registered in OJK is to undergo a certification process held by Indonesian Fintech Lender Association (AFPI). AFPI had been officially approved as an official partner of OJK in overseeing fintech lending.

    Based on OJK data, up to the end of January 2019, the value of transaction of fintech p2p lending company had reached IDR 25.59 trillion from 99 registered platforms, while the number of lenders reached 267,496 entities with more than 5 million debtors in over 17 million transactions.

    AFPI chairman Adrian Gunadi said that AFPI members must abide by the code of conduct, for example, the prohibition to access contacts owned by clients that recently stirred public polemic because many lending platforms accessed client’s contact for the billing.

    CAESAR AKBAR