P2P loans could change global lending practices

2016 ◽  
Keyword(s):  
Systemic Risk ◽  
Small Businesses ◽  
Financial System ◽  
Financial Sector ◽  
Peer To Peer ◽  
Consumer Finance ◽  
Interbank Market ◽  
Content Type ◽  
P2p Lending ◽  
Financial Technology

Subject Outlook for P2P lending. Significance Financial technology ('fintech') threatens to transform some traditional financial sector activities. In particular, online intermediation between lenders and borrowers could disrupt the established banking and consumer finance industries. Peer-to-peer (P2P) lending may advance quickly. Impacts The entry of one of the tech giants into the market might accelerate the development of P2P lending. Large banks may acquire or develop P2P platforms and reduce exposure to traditional lending aimed at consumers and small businesses. As P2P lending is much less interconnected with the financial system than traditional banking, it will pose less systemic risk. However, if P2P platforms expand to take deposits or borrow or lend in the interbank market, they could increase systemic risk.

Development of Financial Technology With Reference to Peer-to-Peer (P2P) Lending in Indonesia

2021 ◽  
pp. 144-164
Author(s):  
Tulus T. H. Tambunan
Keyword(s):  
Small Businesses ◽  
Peer To Peer ◽  
Small Business Owners ◽  
Semistructured Interview ◽  
Group Discussions ◽  
Case Study Methodology ◽  
P2p Lending ◽  
Study Methodology ◽  
Financial Technology

This study aims to explore the growth of financial technology (fintech) and its impact on the ability of small businesses to access funding in Indonesia with reference to peer-to-peer (P2P) lending. It adopted a case study methodology using a semistructured interview and a series of focus group discussions (FGDs) with 10 owners of small businesses and 30 owners or managers of peer-to-peer (P2P) lending companies. Two important findings were (1) the sampled small businesses benefited from P2P lending and (2) banks are the most important investor in P2P lending companies. However, this study has its limitations. First, the sample was too small to generalize to a broader population. Second, there is no national data on credit to small businesses from P2P lending to support the findings of the case. To the authors' knowledge, this is the first study on this topic, specifically in Indonesia. It takes stock of the empirical evidence in the literature through the lens of small business owners.

An Overview of Financial Technology in Indonesia

2020 ◽  
pp. 216-224 ◽  
Author(s):  
Muhammad Anshari ◽  
Mohammad Nabil Almunawar ◽  
Masairol Masri
Keyword(s):  
Rapid Change ◽  
Financial System ◽  
Peer To Peer ◽  
Channel System ◽  
The Past ◽  
The People ◽  
P2p Lending ◽  
Financial Technology ◽  
The Way

Financial technology (FinTech) has been developing at a tremendous rate all around the globe. This chapter will show how banking and financial system has evolved by financial technology which affected the way of how society is living now. There is a rapid change of FinTech for the past few years in Indonesia. These changes have made an impact to the people in Indonesia. As for the exploration to the rise of FinTech in Indonesia, it is important to understand the development and challenges of FinTech in Indonesia by looking changing Indonesian people's behavior in terms of FinTech's adoption include payment channel system, digital banking, peer-to-peer (P2P) lending, and crowdfunding.

PERLINDUNGAN DATA PRIBADI PENERIMA PINJAMAN DALAM TRANSAKSI PINJAM MEMINJAM UANG BERBASIS TEKNOLOGI INFORMASI (PEER TO PEER LENDING)

2021 ◽  
Vol 50 (4) ◽  
pp. 789
Author(s):  
Hendrawan Agusta
Keyword(s):  
Peer To Peer ◽  
P2p Lending ◽  
Peer Lending ◽  
Financial Technology

Perkembangan teknologi informasi sangat pesat, adanya kolaborasi antara teknologi informasi dengan berbagai bidang kehidupan melahirkan berbagai macam inovasi yang membuat kehidupan masyarakat semakin mudah. Inovasi di bidang teknologi informasi melahirkan model bisnis baru yang pada gilirannya mampu menghasilkan efisiensi bagi masyarakat. Revolusi teknologi informasi tersebut terus berkembang dan sekarang memasuki bidang keuangan yang regulasinya ketat. Kolaborasi antara teknologi informasi dengan bidang keuangan melahirkan Teknologi Finansial atau Financial Technology (Fintech), salah satunya pinjam-meminjam uang berbasis teknologi informasi (Peer to Peer Lending/P2P Lending). Masyarakat menjadi lebih mudah mengakses kebutuhan keuangannya melalui P2P Lending. Di sisi lain, muncul tantangan dalam P2P Lending mengenai perlindungan data (data pribadi, data transaksi dan data keuangan). Dalam penelitian ini yang akan dibahas hanya data pribadi Penerima Pinjaman, dimana data pribadi tersebut perlu dilindungi agar tidak terjadi penyalahgunaan yang menimbulkan permasalahan hukum

Legal protection for Provider in Peer to Peer Lending: an Example from Indonesian Regulation

2019 ◽  
Vol 2 (2) ◽  
Author(s):  
Trinas Dewi Hariyana
Keyword(s):  
Risk Management ◽  
Legal Protection ◽  
Peer To Peer ◽  
Bank Credit ◽  
Legal Certainty ◽  
P2p Lending ◽  
Credit Agreement ◽  
Dispute Resolution Mechanism ◽  
Settlement Mechanism ◽  
Financial Technology

The Financial Technology peer to peer (P2P) lending concept still finds many weaknesses, especially in terms of legal protection for parties and risk management from Fintech itself. P2P Lending Regulation in Indonesia currently uses POJK No. 77 / POJK / 2016 concerning technology-based money lending and borrowing services. The position of Fintech P2P lending is similar to a bank, but the concept is a different agreement. Fintech P2P lending funds can come from investors or funders or cooperate with legal entities or banks. Considering that the risk posed by Fintech P2P lending is very large, Fintech must also implement consumer protection, risk management and prudential principles like a bank credit agreement so as to cover the risk of bad credit, the Fintech platform uses other means to protect funds from investors or investors. the other is with the protection fund as done by the Coin works platform. The protection fund does not cover the entire fund invested by the funder, depending on the availability of protection funds and the amount of credit that is experiencing congestion. The POJK regulation in article 19 describes the agreement clause which must contain the dispute resolution mechanism and the settlement mechanism if the implementation of lending and borrowing services is not able to continue operations, so that with the rules related to the clause it is expected that the funder will still get legal certainty and protection for funds.

China will press on with financial reform and opening

2018 ◽  
Keyword(s):  
United States ◽  
Emerging Markets ◽  
Central Bank ◽  
Systemic Risk ◽  
Local Governments ◽  
Financial Sector ◽  
The United States ◽  
Financial Reform ◽  
Trade Disputes ◽  
Content Type

Subject Financial reform and opening in China. Significance Despite trade disputes with the United States and risks in emerging markets, China's leaders are showing determination to open the country's financial sector further to foreign businesses. Impacts Local governments and banks will come under pressure from waves of corporate defaults, but wider panic is unlikely. Struggling enterprises will be less able to rely on debt to survive. The strong supervision of the financial sector seen in 2017 will persist as the authorities seek to reduce systemic risk. The precise timeline given by the central bank shows policymakers' confidence that risks are adequately contained.

scholarly journals URGENSI LEGALITAS FINANCIAL TECHNOLOGY (FINTECH): PEER TO PEER (P2P) LENDING DI INDONESIA

2019 ◽  
Vol 1 (2) ◽  
pp. 68-79
Author(s):  
Meline Gerarita Sitompul
Keyword(s):  
Peer To Peer ◽  
P2p Lending ◽  
Financial Technology

Financial Technologi (Fintech) lahir dan berkembang sesuai tuntutan zaman dimana proses pembayaran, transfer, jual beli, hingga pembiayaan diharapkan menjadi semakin praktis, aman dan modern. Salah satu layanan fintek yang mendapatkan perhatian adalah layanan peer to peer (P2P) lending. P2P lending adalah sebuah platform teknologi yang mempertemukan secara digital peminjam yang membutuhkan modal usaha dengan pemberi pinjaman yang mengharapkan return yang kompetitif. Selama ini untuk fintech peer to peer (P2P) lending khususnya layanan pinjam meminjam secara online yang terdaftar di OJK, payung hukumnya mengacu pada Peraturan OJK (POJK) Nomor 77 Tahun 2016. Berdasarkan POJK, OJK sebagai lembaga untuk mengatur, memberi izin dan mengawasi Fintech P2P Lending yang terdaftar. Sementara untuk fintech ilegal atau yang belum terdaftar di OJK, diperlukan regulasi yang lebih tinggi kedudukannya dari POJK. Merujuk data Kementerian Komunikasi dan Informatika saat ini sudah 803 fintech yang telah diblokir karena tak memiliki izin atau illegal.  Penelitian ini mencoba untuk membahas tentang urgensi legalitas financial technologi, khususnya P2P Lending di Indonesia. Sifat penelitian ini adalah deskriptif analitis. Di kemudian hari, pembahasan ini kiranya akan membuka jalan untuk memfasilitasi masyarakat Indonesia, khususnya yang mencari kepastian hukum dalam penggunaan financial technologi P2P Lending.  

scholarly journals Problematika Hukum Pada Peer To Peer Lending di Indonesia Dalam Perspektif Hukum Persaingan Usaha

2019 ◽  
Vol 2 (6) ◽  
pp. 2025
Author(s):  
Cheyzsa Mega Andhini S.P
Keyword(s):  
Peer To Peer ◽  
Relevant Market ◽  
P2p Lending ◽  
Peer Lending ◽  
Financial Technology

E-commerce yang merupakan bentuk perdagangan elektronik menjadi tren dalam perdagangan di Indonesia saat ini. Tidak hanya perdagangan secara elektronik saja melainkan diiringi dengan adanya pembayaran secara elektronik yang kita kenal dengan Financial Technology (Selanjutnya disingkat fintech). Fintech adalah sebuah inovasi di dalam bidang jasa keuangan. Fintech yang bermunculan di Indonesia ini menjadi salah satu alternatif dalam hal pembayaran berbasis online. Salah satu jenisnya adalah sistem kredit secara online yang disebut dengan P2P Lending. P2P Lending secara legal diatur dalam Peraturan Otoritas Jasa Keuangan Nomor 77/ POJK.01/2016 Tentang Layanan Pinjam Meminjam Berbasis Teknologi Informasi, sebagai dasar hukum terkait sistem pinjam meminjam dengan system elektronik. P2P Lending yang bermunculan di Indonesia membuat pihak bank konvensional juga menawarkan fasilitas yang sama pada perbankan yaitu sistem kredit online. Kesamaan fasilitas antara P2P Lending dan Kredit Online Sistem ini menimbulkan persaingan usaha tidak sehat, karena mereka berada pada relevant market yang sama.

scholarly journals Interconnectedness and systemic risk measures of Chinese financial institutions

Kybernetes ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ming Qi ◽  
Jiawei Zhang ◽  
Jing Xiao ◽  
Pei Wang ◽  
Danyang Shi ◽  
...  
Keyword(s):  
Financial Institutions ◽  
Systemic Risk ◽  
Risk Measures ◽  
Financial System ◽  
Vulnerability Index ◽  
Content Type ◽  
Systemic Risks ◽  
Impact Index ◽  
Systemic Impact ◽  
Potential Risks

PurposeIn this paper the interconnectedness among financial institutions and the level of systemic risks of four types of Chinese financial institutions are investigated.Design/methodology/approachBy the means of RAS algorithm, the interconnection among financial institutions are illustrated. Different methods, including Linear Granger, Systemic impact index (SII), vulnerability index (VI), CoVaR, and MES are used to measure the systemic risk exposures across different institutions.FindingsThe results illustrate that big banks are more interconnected and hold the biggest scales of inter-bank transactions in the financial network. The institutions which have larger size tend to have more connection with others. Insurance and security companies contribute more to the systemic risk where as other institutions, such as trusts, financial companies, etc. may bring about severe loss and endanger the financial system as a whole.Practical implicationsSince other institutions with low levels of regulation may bring about higher extreme loss and suffer the whole system, it deserves more attention by regulators considering the contagion of potential risks in the financial system.Originality/valueThis study builds a valuable contribution by examine the systemic risks from the perspectives of both interconnection and tail risk measures. Furthermore; Four types financial institutions are investigated in this paper.

Unethical practices peer-to-peer lending in Indonesia

2019 ◽  
Vol 27 (1) ◽  
pp. 274-282 ◽  
Author(s):  
Taofik Hidajat
Keyword(s):  
Design Methodology ◽  
Secondary Data ◽  
Peer To Peer ◽  
Legal Action ◽  
Content Type ◽  
Unethical Practices ◽  
Legal Sanctions ◽  
P2p Lending ◽  
Peer Lending ◽  
Desk Research

Purpose This paper aims to highlight the existence of illegal peer-to-peer (P2P) lending in Indonesia, unethical practices of P2P lending operators to borrowers, regulatory weaknesses and offer recommendations to reduce unethical practices. Design/methodology/approach This paper is a general discussion through desk research using secondary data from journal papers, research reports, books and papers online. Findings There are regulatory weaknesses in regulating illegal P2P lending. There are no strict legal sanctions for P2P lending operators who act unethically to borrowers. Originality/value This paper discusses the unethical actions of P2P lending operators and the inability of regulations to take legal action against illegal P2P operators.

Sign in / Sign up

Export Citation Format

Share Document