JAKARTA - The financial technology (fintech) of peer to peer (P2P) lending is expected to merge in Indonesia to provide financial access for debtors. P2P lending is still concentrated more on Java Island.

Director of the Authority Financial Services (OJK) Hendrikus Passagi stated the P2P lending was expected to provide the alternative in financial access for Indonesian debtors. “This still has not answered our problem, if the merchants are still coming from Java island, due to the funding imbalance from the conventional financial industry, which is currently around 60-70 % are concentrated on Java island,” said he, in the launching of ModalToko, in Jakarta.

Tokopedia provided three P2P lending consisting of  ModalToko, Pinjaman Modal, dan Saldo Prioritas. By launching the financial technology, Tokopedia expects a lot of P2P will joint into the platform. (LK/W)