This Is A Mandatory Criteria To Have The General Chairperson Of AFPI According To The OJK

Co-Founder and CEO of Gradana, Angela Oetama. (Didi Kurniawan / VOI)

JAKARTA - The regulation and supervision of the fintech lending industry in Indonesia is entering a new chapter after the enactment of Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector, especially with the inauguration of Agusman as Chief Executive of the Supervision of Financing Institutions, Ventural Capital Companies, Micro Financial Institutions and Financial Services Institutions (PVML) of the OJK on August 9, 2023.

Along with the end of the term of office of the General Chairperson of AFPI (Indonesian Joint Funding Fintech Association) for the period 2020-2023, AFPI members consisting of 102 licensed fintech lending companies from the OJK will elect a new chairman at the AFPI National Conference which will be held in early October 2023.

Responding to this, the Head of the Supervision Department of Micro Financial Institutions and Other Financial Services Institutions OJK Edi Setijawan explained the ideal criteria for the next AFPI general chairman, including individuals who can become trusted OJK partners by being able to manage the existing big industrial data well.

In addition, this figure must also be capable and be able to strengthen industry governance and also introduce or educate the public about the benefits of fintech lending for productive purposes. AFPI must also be able to provide benefits to its members.

"This ability is needed, so that business actors are able to face the challenges of the fintech lending industry in the future. Because according to him, the challenges in the future are not only about how to distribute financing but also trying to make people able to use financing for productive things," he explained when met in Jakarta, Tuesday, September 6.

Edi added that this can be achieved by strengthening and empowering by collaborating through relevant agencies.

"For example, collaboration is carried out with the ministry of cooperatives and other agencies. So that it is able to provide optimal results," he added.

One of the targets closest to financing is MSMEs which are currently underserved. Edi said digital startups are one of the industries that need the introduction of productive financing from fintech lending.

Another challenge that must also be faced, said Edi, is education. According to him, the majority of P2P customers have an age range of 25-30 years.

"This is an age whose financial power is still not established but has great enthusiasm and must be good at educating them. Finally, we must have a roadmap so that we know what we will do in the next 5 years," he said.

At the same time, Angela Oetama as a candidate for general chairman of AFPI who is also the Co-Founder and CEO of Gradana, a fintech lending company that provides financing for productive purposes, said that one of the main challenges in the current fintech lending industry is maintaining quality credit portfolios including a healthy Non-Performing Loan (NPL) level.

This is a big challenge, especially in a challenging global economic situation and even tends to be difficult today. In addition, the fintech lending industry must also be able to maintain consumer confidence as a business fundamental by maintaining industry integrity in carrying out business activities.

"It is very important for the General Chairperson of AFPI for the next period to consistently maintain the trust that OJK has given AFPI as an OJK partner in supporting market conduct supervision by prioritizing the commitment of AFPI members to legal compliance, real implementation of GCG and GRC and of course the most important thing is consumer protection. Industrial integrity must also be maintained, without integrity we do not deserve to be trusted by the OJK, let alone become OJK partners," said Angela.

Meanwhile, related to her candidacy as general chairman of AFPI, Angela said three short-term strategic programs that had been launched by her. The first is to ensure that all AFPI programs, priorities and initiatives are in line with roadmaps, work programs to the OJK compartment achievement targets that oversee fintech lending.

"As an OJK partner, there needs to be serious efforts to harmonize AFPI's work program with roadmaps, targets, OJK programs and policies under the leadership of Mr. Agusman. In addition, AFPI needs to be proactive, cooperative and initiative to collaborate more intensely with other compartments in the OJK such as EPK, Banking, ITSK to Internal Audit," he said.

Second, initiating institutional synergy with government institutions, for example with the Ministry of Finance to educate about taxes, or with PPATK to increase the industry's preventive capability of money laundering crimes.

"This includes collaborating with AFPI-like associations in other countries, to exchange knowledge and research collaboration together to understand the development of best practices in this business sector in other countries in the context of credit scoring, artificial intelligence, governance, consumer protection to dispute resolution," he explained.

Third, build stronger and more real ecosystem cooperation with fellow brothers and sisters in the financial services industry that already existed and matured, such as banks and finance companies and so on.