OJK Explores Investree Credit Cases That Reach 16.44 Percent

JAKARTA - The Financial Services Authority (OJK) has opened its voice regarding the problem of bad credit cases faced by the fintech peer to peer (P2P) lending platform PT Investree warung Jaya (Investree).

Meanwhile, Investree's bad credit rate can be seen from the default rate ratio above 90 days (TWP90) on the Investree platform reaching 16.44 percent as of February 2, 2024.

The magnitude of the TWP90 Investree ratio shows the high level of negligence in the settlement of obligations is known to be the threshold of the TWP90 set by the Financial Services Authority (OJK), which is no more than 5 percent.

Chief Executive of the Behavior Supervisory of Financial Services Business Actors, Education and Protection of OJK Consumers, Friderica Widyasari Dewi, said that her party is still investigating the Investree case because the OJK is in the midst of consumers and business actors.

"We protect them from becoming consumers, including those who are lenders and also those who use them," he explained to the media crew Friday, February 2, 2024.

The woman who is familiarly called Kiki said that if the problems experienced by Investree were due to business risks, the sanctions given were different from violations.

"But for example, if it's a loss because the business risk is certainly different if there are violations, so that's what we're looking at," he said.

Kiki emphasized that her party is currently looking into and exploring the Investree case further whether there was a violation or not.

"Anyway, we'll see if there is a violation or not. So just wait," he explained.

Previously, OJK had imposed administrative sanctions on peer-to-peer (P2P) lending financial technology (investree Jaya) because it had violated applicable regulations.

Meanwhile, if further violations are found, OJK will provide further administrative sanctions such as fines, restrictions on business activities, and revocation of business licenses.