OJK Launches Roadmap Fintech Lending, Here's The Strategy

JAKARTA - The Financial Services Authority or OJK officially launched the Roadmap for the Development and Strengthening of Information Technology/Fintech Lending (LPBBTI)-Based Joint Funding Services.

The Chief Executive of the Supervision of Financing Institutions, Ventura Capital Companies, Micro Financial Institutions, and Other Financial Services Institutions OJK, Agusman conveyed the purpose of establishing an LPBBTI roadmap as an effort to develop and strengthen a healthy industry with integrity and authority in financial inclusion, consumer protection, and contribute to national economic growth.

Meanwhile, the Roadmap is the result of collaboration from the OJK with the Indonesian Joint Funding Fintech Association (AFPI) and academics and Indonesian economic observers.

According to Agusman, with the issuance of laws on the development and strengthening of the financial sector or the P2SK law, LPBBTI has a very strong basis for fixing and encouraging the contribution of this industry to the national economy, especially in the context of financing the productive sector and MSMEs.

"This ROadmaps illustrates the efforts that will be carried out by the OJK together with the industry in the 2023-2028 period to realize a common vision, namely the LPBBT industry which is healthy, with integrity and oriented towards financial inclusion and consumer protection, and contributes to national economic growth," he explained at the launch of the LPBBTI roadmap, Friday, November 10.

The implementation of the development and strengthening of the fintech industry P2P lending was carried out in three phases from 2023 to 2028, starting with a phase of strengthening the foundation, followed by a consolidation phase and creating momentum, and ending with a phase of alignment and growth.

Agusman said that in the roadmap there are 4 pillars, namely the pillars of governance and institutions; pillars of consumer protection, pillars of ecosystem element development, and pillars of licensing control.

According to Agusman, the roadmap launched can be updated according to its development, because, currently the world is full of instability and the economy can be very developed.

On the other hand, the strategy implemented includes five strategies such as strengthening the governance of human resources, strengthening monitoring and licensing arrangements, treatment of consumer protection, developing ecosystem elements, finally developing data infrastructure and information systems.

"This ROadmaps is a living document so it is adaptive and can be adjusted in line with the dynamics of the economy and the development of this industry in the future," he concluded.