Information Technology-Based Co-financing Services and Its Implications for the Basic Concepts of Fintech Lending Risk Mitigation
- 10.2991/978-2-38476-024-4_9How to use a DOI?
- Financial Services Authority; Risk Mitigation; Fintech Lending
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.
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Cite this article
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 -