Proceedings of the International Conference On Law, Economics, and Health (ICLEH 2022)

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Information Technology-Based Co-financing Services and Its Implications for the Basic Concepts of Fintech Lending Risk Mitigation

Authors
Tina Amelia1, *
1Borobudur University, Jakarta, Indonesia
*Corresponding author. Email: tinaamelia3009@gmail.com
Corresponding Author
Tina Amelia
Available Online 19 April 2023.
DOI
10.2991/978-2-38476-024-4_9How to use a DOI?
Keywords
Financial Services Authority; Risk Mitigation; Fintech Lending
Abstract

The Financial Services Authority (OJK) issued POJK Number 10/POJK.05/2022 concerning Information Technology-Based Co-Financing Services (POJK LPBBTI) as a fintech lending which is an improvement from POJK Number 77/POJK.01/2016 concerning Money-Lending Services Based on Information Technology (POJK 77/2016) in order to accommodate the rapid and more contributive industrial development as well as to provide optimal regulation on consumer protection. One of the improvements to the clause is related to risk mitigation arrangements. The new regulation regarding risk mitigation is clearly regulated so that it aims to develop a financial industry that can encourage the growth of alternative financing, facilitate, and Improving access to finance for public and economic actors through information technology-based financial services. Based on this, the problem was formulated based on the legal implications related to risk mitigation in fintech lending after the promulgation of POJK Number 10/POJK.05/2022 concerning Information Technology-Based Joint Funding Services. This study uses a prescriptive legal method with a legal approach. This study found that regulations related to risk mitigation for fintech lending as regulated in POJK Number 10/POJK.05/2022 have been regulated. So fintech lending has strict guidelines that were previously not clearly regulated in the previous arrangement.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the International Conference On Law, Economics, and Health (ICLEH 2022)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
19 April 2023
ISBN
10.2991/978-2-38476-024-4_9
ISSN
2352-5398
DOI
10.2991/978-2-38476-024-4_9How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Tina Amelia
PY  - 2023
DA  - 2023/04/19
TI  - Information Technology-Based Co-financing Services and Its Implications for the Basic Concepts of Fintech Lending Risk Mitigation
BT  - Proceedings of the International Conference On Law, Economics, and Health (ICLEH 2022)
PB  - Atlantis Press
SP  - 66
EP  - 73
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-024-4_9
DO  - 10.2991/978-2-38476-024-4_9
ID  - Amelia2023
ER  -