Support The Acceleration Of National Economic Recovery, This Is The Promise Of Fintech Players

JAKARTA - The Indonesian Joint Funding Fintech Association (AFPI) is committed to continuously strengthening its role in supporting government programs to accelerate national economic recovery.

One of them is by relying on digital finance, by targeting people and people's productive businesses that have not been served and touched by conventional financial services.

"In the midst of the challenges of the COVID-19 pandemic, which are currently ongoing, fintech lending also plays a role in the national economic recovery process. We will continue to strengthen and strengthen the work program (AFPI) in 2022, so that it is always relevant to the development of conditions in the industry. ," said AFPI chairman Adrian Gunadi in his official statement in Jakarta, as reported by Antara, Saturday, March 12.

This strengthening effort, according to Adrian, can be seen from the total accumulation of financing for the fintech lending industry which amounted to Rp.295.85 trillion. In addition, the value of ongoing funding or outstanding loans reached IDR 29.88 trillion until December 2021.

Not only that, AFPI members also managed to record the realization of financing to Micro, Small and Medium Enterprises (MSMEs), with an average portion of 52.44 percent of total financing in 2021. This means that the financing activities carried out have been right on target, with fifty percent more flowing to national MSME actors.

Currently, AFPI has 103 members who have obtained a business license from the Financial Services Authority (OJK). AFPI has just concluded the 2022 National Working Meeting, with the theme “Recovery Together Through Collaboration,” which focuses on strengthening relationships between industry players and regulators.

This focus is considered important for the P2P lending fintech industry to jointly face future challenges, one of which is related to the existence of illegal online loans (pinjol) as a form of real threat in the development of this industry.

Meanwhile, the Chief Executive of the OJK Non-Bank Financial Industry Supervisor, Riswinandi, is of the view that the pandemic has taught that digitalization in the financial sector has become an accelerator of national economic growth.

Therefore, OJK continues to be committed to supporting all aspects of digitalization, including encouraging the growth of fintech funding so that it can continue to grow positively. "This shows that fintech funding is still needed by the community, especially the informal sector which has not been served and has a role in various economic activities that have not been touched by other finances," said Riswinandi.

OJK hopes that AFPI can continue to encourage industrial quality improvement, service improvement, and consumer protection in order to maintain continuity and increase public trust.