By 2018, OJK Issuing Rules for Fintech

05 Jan 2018 by Edwin

In recent years, the business and technology climate in Indonesia is constantly improving. Now there are so many services that make it easy for customers to get what they want. No exception in the economic field, there are already started a lot of fintech growing and developing. Automatically, this makes the Financial Services Authority (OJK) pay serious attention in addressing the development of fintech as a technology-based services industry.

In addressing the rapid development of fintech, Chairman of the Board of Commissioners OJK Wimboh Santoso said it was menggodok draft regulations on digital financial innovation. The OJK regulation (OJK) is scheduled to be issued in the first quarter of 2018.

To establish effective and beneficial OJK regulations of various parties, of course, required coordination between the OJK and several other agencies. The goal is to create rules of a principal nature.

Not just arranging regulations, OJK also is preparing a fintech roadmap in Indonesia for the next 5 years. It was created with a view to becoming a reference in fintech development, regulation, and control in Indonesia.

The attention given to the fintech industry is also not kidding you know, in addition to the future roadmap, OJK and some related agencies also established a national-scale fintech service center. The service will function as coordinator of fintech activities to keep growing and developing without forgetting the aspect of security and consumer protection.

Until the end of 2017, there are dozens of fintech companies that operate to serve the people of Indonesia. In particular, there are 27 fintech peer to peer lending companies that allow many people to borrow money to start a business or other personal needs. In the future, fintech companies will continue to grow, even stated there are 32 companies are still in the process of registration.

From only dozens of companies, it turns out the total financing fintech business until now already reached the figure of Rp 2.26 trillion with a total of 300,000 customers. The amount is pretty massive, right?