PALEMBANG - The Financial Services Authority continues to encourage the growth of the industry peer to peer lending or fintech lending to increase financial inclusion, especially expanding access to MSME capital.
"We are determined to bring the fintech lending industry to jointly raise the MSME industry," said Riswinandi, Executive Chief of the Non-Bank Financial Industry Supervisor when opening Fintech Day 2019 in Palembang on Friday (3/5).
Riswinandi said that in order to fully support MSME funding, OJK has two choices, namely to encourage fintech lending to increase productive funding capacity (quality) or to encourage the massive registration of productive fintech lending (quantity).
OJK continues to encourage the growth of the fintech lending industry through various efforts such as the preparation of technical regulations related to the implementation of registration, licensing, supervision, fintech lending online monitoring systems; development of collaboration between the financial services industry with fintech lending and the development of sustainable and open dialogue between the government, regulators, providers of fintech lending and associations in order to improve the quality of regulation of fintech lending.
At present, there are 113 fintech lending that have been registered / licensed at OJK consisting of 107 conventional business operators and 6 sharia business operators. As of March 2019, the accumulation of online loans was amounted to Rp 33.2 trillion with an outstanding amount of Rp 7.79 trillion. Meanwhile, the lending account has a total of 272,548 entities and the borrower is 6,961,993 entities. (LM)