OJK Revokes Registered Signs of Five Fintech Lending Providers

OJK revoked the registered certificates that had previously been bagged by five companies fintech p2p lending. Regulatory reasons, as quoted from Tech In Asia, because the five were proven to have changed shareholders without OJK approval.

The five companies are Relation, Tunaiku (an online KTA product from Bank Amar), Dynamic Credit, Pinjamwinwin, and Karapoto. The decision letter has been issued since August 24, 2018, as a result the companies affected by this decision must stop all services, resolve the rights and responsibilities of users.

They are also prohibited from using the OJK logo, and must not include a statement that they are registered and supervised by the OJK in every activity.

OJK also urges people who are users of the service to contact the related company. The goal is to resolve the rights and obligations of users.

DailySocial tried to contact one of the five companies, namely Tunaiku. Tunaiku refused to provide a response today, Monday (3/9) and argued that a new official statement would be issued tomorrow.

Tunaiku is a four-year-old flagship product from Amar Bank, a regional private bank from Surabaya. It is claimed that Tunaiku is one of the pioneers of fintech lending services in Indonesia.

In previous interview, Vishal said Tunaiku is targeting loan disbursement of more than Rp. 1 trillion throughout 2018 for 100 thousand customers throughout Indonesia.