This Year AFPI Wants to Fix the "Code of Conduct" for P2P Lending

After officially appointed as an association that accommodates information technology-based money-lending service providers (p2p lending) by the OJK, the Indonesian Joint Funding Fintech Association (AFPI) is currently preparing to launch five main focuses. The first thing that concerns AFPI is the issue of Code of Conduct for members and organizers p2p loans in particular.

To DailySocial AFPI General Chair Adrian Gunadi said that later there would be an orderly standardization related to billing methods, pricing and information disclosure. Thus AFPI as an official partner of OJK can supervise and reprimand if there are violations committed by members.

"Actually all this time the Code of Conduct already exists, only enforcementIt doesn't work effectively because there isn't an association that has been officially appointed by the OJK to implement the Code of Conduct," said Adrian.

In addition to the Code of Conduct, during 2019, AFPI also began to focus on providing education not only to the general public but also the media to policy makers. AFPI wants to ensure that the information disseminated is accurate and relevant, that p2p loans Currently, it has helped a lot not only SMEs but also the education, marine and fisheries sectors.

Official certification from OJK

Another thing that will be the focus of AFPI in 2019 is the issue of certification or granting official permits from the OJK to its members. AFPI informs that in the first quarter of 2019 there will be several organizers p2p loans which will receive official permission from the OJK.

"As a partner, I see that OJK should have made it easier and more comfortable to give official permission to AFPI members. This is also a priority for AFPI," said Adrian.

Altogether, there are currently around 99 members joining the AFPI. AFPI noted that there were around 50-60% of the total members targeting consumer. Later AFPI will divide these categories separately, especially the organizers who fall into the category productive fintech lending, SMEs, consumer to sharia.

"For sharia itself, AFPI noted that there will be several new members who focus on fintech Sharia this year. Thus it is hoped fintech Sharia will increase in number," said Adrian.

Meanwhile, it is related to the AFPI and OJK plans to build Fintech Lending Data Center, Adrian emphasized that this is still a concern of the AFPI. Based on the transaction information shared by members, it is hoped that AFPI can minimize the occurrence of transactions over-leveraged from the side of users who make more than one loan online.

Then, AFPI members can access the data center to check whether the prospective borrower is indicated to be fraudulent, has failed to pay, or is borrowing from more than one company.

"Currently we record all AFPI members in total assets or loan The total facilities that have been facilitated as of December 2018 are approximately Rp. 22 trillion. In terms of NPL, the number is also quite well maintained, which is at 1,4%," said Adrian.