JAKARTA - The Financial Services Authority (OJK) records that at least 20 peer-to-peer (P2P) lenders are working on their licences.
According to OJK Director of Fintech Licencing and Monitoring Hendrikus Passagi, the number reflects the amount of companies in the “serious” category, while there are more remaining outside the category. Those who are not serious, said Mr Passagi, are companies who are not transparent in terms of their shareholder compositions.
“I need to stress that companies that wish to enter the P2P lending industry must be transparent about their shareholders, commissioners, and directors,” said Mr Passagi at the 2019 Indonesia Fintech Summit and Expo, Tuesday (24/9).
Regarding licenses, Mr Passagi said that the OJK focuses more on how big of an impact P2P lenders can create in terms of financial inclusion.
“There are no obstacles in the licencing process. We always hope for the best for the industry, and we don’t want Indonesian fintech companies to collapse like they do in China. We want to keep this industry 100% healthy,” said Mr Passagi.
Currently, 127 P2P lenders are registered in the OJK, with only seven fully authorised by the regulator. (AM/MS)