Tunaiku P2P Lending Services Continue to Operate Under the auspices of Amar Bank

Tunaiku released an official statement after the news circulated revocation of registration certificate as the organizer of p2p lending by OJK. In the information received DailySocial, Managing Director of Amar Bank Vishal Tulsian said that in fact it was Tunaiku who requested the revocation because of the encouragement of the OJK.

Vishal said, in February 2018 Tunaiku established a separate legal entity, PT Tunaiku Fintech Indonesia, for the purpose of registering for licensing for the implementation of this p2p lending service.

They applied for registration to the Directorate of Fintech Licensing and Supervision (DP3F) OJK. The application was approved and released in March 2018.

Even though it is already a legal entity, in the business process, Tunaiku continues to operate under Amar Bank.

The regulator, in this case the OJK Banking Supervisor, sees that Tunaiku for four years operating under the auspices of Amar Bank has succeeded in providing loans of more than Rp. 1 trillion and reaching more than 100 thousand customers at the beginning of the third quarter of 2018. OJK finally encouraged Tunaiku to remain under the supervision of Amar Bank.

"The OJK Banking Supervisor encourages Amar Bank to continue operating Tunaiku as has been done, which is to remain under the supervision and auspices of Amar Bank. Thus, in August 2018, we submit a request for cancellation of registered marks as the organizer of the fintech peer-to-peer lending Tunaiku to DP3F OJK and has also been approved," explained Vishal.

"We appreciate the continued trust and support given by regulators, especially OJK in achieving the same goal, namely supporting the country's national financial inclusion strategy and consumer protection which is a priority," he added.

Director of DP3F OJK Hendrikus Passagi said, "In its journey, the Tunaiku electronic system was also classified by the OJK banking supervisor as an Amar Bank product that has been operating since June 2014. With operational considerations and maintaining reputation, as well as increasing the role of the Tunaiku platform in financial inclusion, Tunaiku has conveyed cancellation request as a p2p lending organizer."

He continued, the cancellation was intended so that Amar Bank could be more focused and the Tunaiku platform could be fully monitored as a banking product. Upon this request, DP3F OJK granted the request and canceled the registered Tunaiku Fintech Indonesia.

"With the more focused supervision of Tunaiku as one of the banking products at Amar Bank, it is hoped that Tunaiku can maximize its role in supporting the national financial inclusion strategy in the country," concluded Hendrikus.