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70% of lenders in Indonesian P2P lending fintech are millennials

26 June 2019 12:50

JAKARTA. Most of the lenders in peer to peer (P2P) lending fintech are millennials, with a portion of almost 70%

This was revealed in the data of the Financial Services Authority (OJK), which showed that as of April 2019, 69.53% of the lenders in P2P lending fintech are millennials aged 19-34 years old. 

Director of Fintech RegulationsLicensing, and Supervision at OJK, Hendrikus Passagi, said that Indonesia is a lucrative target market of P2P lending fintech. In the past four years, the P2P lending has grown quite significantly in Indonesia. 

As of May 2019, based on OJK data, there are 113 P2P lending fintech registered at OJK. The total loans from P2P lending fintech reached Rp 37 trillion from 25.69 million borrowers accounts and 456,352 lender accounts. The majority of lenders came from Indonesia (453,583 accounts), the rest from abroad (2,769 accounts). The majority of lenders are individuals, only 0.18% of them are business entities.

Financial planner from Finansiaconsulting.com, Eko Endarto said investment in P2P lending fintech could be good for millennials with a monthly income of Rp. 8 million and below. (AM/AR)

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