2018 Fintech Fair: Socializing Financial Literacy
A great event of financial technology (fintech) industry had been held in Jakarta. The event with the title of The 2018 Indonesia Fintech Fair was expected to be an appropriate event for some fintech companies to improve the public awareness about technology-based lending services and companies or more popularly called as Peer to Peer Lending or P2P Lending.
The 2018 Indonesia Fintech Fair was the first event that held start this year. It took the theme of "Fintech Transforming Life" and was organized by the Fintech Indonesia Association (Aftech) in Jakarta. The purpose of this financial technology community event was to broaden the education and information on the conventional tekfin and shariah tekfin to innovate teh alternative solutions to gain the financial access for wider community.
With a theme that emphasiz the consumer protection, the 2018 Indonesia Fintech Fair was attended by all stakeholders of the financial technology industry ecosystem from government, bankers, fintech service providers, which are Investree, and other fintech companies to interact directly with public in the panel discussions.
During the event there were also various exhibitions, the product and service presentations, and games. Co-Founder and CEO of PT Investree Radhika Jaya (Investree) Adrian Gunadi said the involving of the community to improve the awareness and diversification of products and services is very important, because it could strengthen the protection of the consumers.
Except of that, Adrian who also serves as Vice Chairman of Aftech said that the event became an opportunity for the association to educate the fintech businessmen to run the business with a sense of full responsibility and transparent.
"We see that the event is the right momentum and a good opportunity to share the awareness because all stakeholders will be attended and join with people whether aware or not to the benefits of tekfin," said Adrian.
In the future, Investree will introduce the detail of their newest products and services based on sharia. These products are the Sharia payment service based on Invoice Financing and the Sharia Online Seller Financing for Online Store.
The Definition of the Sharia payment service is a funding product guaranteed by invoices, designed to apply the sharia method through Akad Al Qardh for bailout and Akad Wakalah Bil Ujrah for gaining the profit or ujrah.
While the Sharia Online Seller Financing is a working capital financial service for online store sellers who have an active store on the e-commerce platform of Investree partners. This transaction is also using sharia mehods (Akad Murabahah and Wakalah) with monthly installment payment scheme and the 12 month of period.
Sixty-Four Fintech Approved by OJK
The improvement of fintech industry seems to get a positive response. The Financial Services Authority (OJK) as the regulator of the financial services industry has recorded the number of registered fintech until June 2018, which are already 64 fintech. The number has increased compared to previous time. On April 2018, OJK had registered 51 fintech companies.
According to the official website of OJK, it has informed that until now only one fintech company that get permission, which is Danamas. While the latest one that registered on June 8, 2018 was Kreditcepat.
Until April 2018, the fintech peer to peer lending industry had distributed Rp 5.42 trillion. The value had increased 111.23% compared to December 2018. While the ratio of non-performing loans (NPL) from fintech lending had reached 0.53% in April 2018. The value had decreased compared to December 2017 which reached 0.99%. While the amount of borrowers at April 2018 had reached 1.47 million entities, up 468.79% year to date. Then the number of lenders had reached 162,373 entities, up 60.86% year to date.
Source: Antara
Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the media that became the reference.
INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.
Contact Us Now to get your legal solution for your business goals.
Email : info@investinindonesia.id
Hotline/Whatsapp : +62812-1000-7112
Office : +6221-80674920
