scholarly journals An Online Credit Agreement with Collateral in Indonesia

2021 ◽  
Vol 5 (1) ◽  
pp. 37
Author(s):  
Ma’ruf Akib
Keyword(s):  
Financial Services ◽  
Rapid Development ◽  
Preventive Measure ◽  
The World ◽  
P2p Lending ◽  
Online Registration ◽  
Loan Defaults ◽  
Credit Agreement ◽  
Online Lending ◽  
Financial Technology

Along with the rapid development of information technology which in turn has an impact on economic activity around the world, financial technology is here to provide facilities in the provision of financial services for the community. The ease of convenience offered through unsecured online loans carries the risk of loan defaults made by debtors. The purpose of this research is to find out what is the urgency of the need for collateral as one of the requirements for submitting online loans and how online registration of fiduciary collaterals can be a preventive measure for bad credit in online credit distribution. This study uses a normative-juridical research method. The result of this research is that there is a collateral that the online lending agreement functions as a legal umbrella so that debtors' obligations to creditors are fulfilled so that they avoid default, default, and even investor losses in Fintech P2P Lending activities. The importance of having a fiduciary collateral that is registered in the credit agreement online is to avoid a legal vacuum (rechts vacuum) or legal vacuum (wet vacuum) when there is default or default by the debtor.

scholarly journals FINANCIAL TECHNOLOGY MARKET IN CHINA: CURRENT SITUATION AND PROSPECTS

2020 ◽  
pp. 57-70
Author(s):  
S. A. Barykin
Keyword(s):  
Financial Services ◽  
Rapid Development ◽  
Financial Sector ◽  
Chinese Economy ◽  
Current State ◽  
The World ◽  
Technology Market ◽  
Cloud Technologies ◽  
Entire Economy ◽  
Financial Technology

The purpose of this article is to assess the extent, trends and consequences of the development of the financial technology market in China. To do this, an analysis of the current state of the Fintech market in China was carried out, the development factors of this market in the country and the consequences of the rapid development of the market for the entire economy of China were identified. It was concluded that the Chinese Fintech market is the leading market in the world in terms of transaction volumes and revenue. Areas were identified in which the development of the Fintech market had the greatest impact on the Chinese economy: the growth of the penetration of cloud technologies in the financial sector of China, the involvement of new segments of the population in the financial sector, and the increase in the efficiency of financial services.

scholarly journals Adverse Selection in P2P Lending: Does Peer Screening Work Efficiently?—Empirical Evidence from a P2P Platform

2021 ◽  
Vol 9 (4) ◽  
pp. 73
Author(s):  
Yao Wang ◽  
Zdenek Drabek
Keyword(s):  
Adverse Selection ◽  
Rapid Development ◽  
Financial System ◽  
Decision Making Process ◽  
Type Ii Error ◽  
Close Attention ◽  
Large Dataset ◽  
The Past ◽  
P2p Lending ◽  
Online Lending

The rapid development of online lending in the past decade, while providing convenience and efficiency, also generates large hidden credit risk for the financial system. Will removing financial intermediaries really provide more efficiency to the lending market? This paper used a large dataset with 251,887 loan listings from a pioneer P2P lending platform to investigate the efficiency of the credit-screening mechanism on the P2P lending platform. Our results showed the existence of a TYPE II error in the investors’ decision-making process, which indicated that the investors were predisposed to making inaccurate diagnoses of signals, and gravitated to borrowers with low creditworthiness while inadvertently screening out their counterparts with high creditworthiness. Due to the growing size of the fintech industry, this may pose a systematic risk to the financial system, necessitating regulators’ close attention. Since, investors can better diagnose soft signals, an effective and transparent enlargement of socially related soft information together with a comprehensive and independent credit bureau could mitigate adverse selection in a disintermediation environment.

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.

Policies and Innovations of Financial Technology Business Models in the Digital Economy Era on the E-Business Ecosystem in Indonesia

2022 ◽  
pp. 22-42
Author(s):  
Ahmad Budi Setiawan ◽  
Amri Dunan ◽  
Bambang Mudjianto
Keyword(s):  
Business Model ◽  
Financial Services ◽  
Business Models ◽  
Rapid Development ◽  
Group Discussions ◽  
Business Ecosystem ◽  
Utilization Of Technology ◽  
The Government ◽  
Financial Transactions ◽  
Financial Technology

The rapid development of technology and information systems continues to give birth to various innovations, especially those related to financial technology to meet the various needs of the community, including access to financial services and processing of financial transactions. Financial technology (FinTech) is the implementation and utilization of technology to improve financial and banking services. The development of financial technology in Indonesia itself is growing rapidly, along with the development of existing technology. FinTech is developed by utilizing the latest software, internet, and computing technologies. Based on this, this study examines the development of innovation and policies for the fintech business model in the e-business ecosystem in Indonesia. This research is a qualitative research with data collection methods through focus group discussions, in-depth interviews, and literature studies. This chapter recommends that the government develop and make policies for fintech business model innovation in the e-business ecosystem in Indonesia.

scholarly journals “THE DEVELOPMENT OF DIGITAL ECONOMY IN INDONESIA”

2021 ◽  
Author(s):  
Made Bagoes Pradhana
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
New Technology ◽  
Information Service ◽  
Financial Information ◽  
Financial Industry ◽  
Savings And Loans ◽  
The World ◽  
Money Transfer ◽  
Financial Technology

Currently the world has entered the industrial era 4.0 which is based on new technology and is able to change the entire chain and management in every branch of industry, including the financial industry known as financial technology and digital banking. Infrastructure financial services are growing rapidly in Indonesian services, computation with startup companies, such as payment and money transfer systems, savings and loans, insurance, financial information service providers, capital markets, crowdfunding, and wealth management.

INFLUENCE OF THE DIGITAL ERA 4.0

2021 ◽  
Author(s):  
Vachry Arfansyah Imang
Keyword(s):  
Financial Services ◽  
Industry 4.0 ◽  
New Technology ◽  
Financial Industry ◽  
Face To Face ◽  
Digital Era ◽  
Finance Company ◽  
The World ◽  
Strategic Role ◽  
Financial Technology

The era of industry 4.0 which is based on new technology and can change the entire chain and management in every branch of the industry including the financial industry which is commonly known as financial technology and digital banking has been experienced by the world today. Changes towards Financial Technology and digital banking show that technology is capable of playing a strategic role in providing accessible financial services. This is in accordance with the behavior of consumers who want service without having to be face-to-face at the bank, insurance office, or finance company.

scholarly journals The Fintech Phenomenon: Protection of Consumer Privacy Data in Online Lending

2021 ◽  
Vol 21 (2) ◽  
pp. 185-194
Author(s):  
Ika Dewi Sartika Saimima ◽  
Valentino Gola Patria
Keyword(s):  
Financial Services ◽  
Legal Theory ◽  
Personal Data ◽  
Peer To Peer ◽  
Legal Norms ◽  
Consumer Privacy ◽  
P2p Lending ◽  
Peer Lending ◽  
The One ◽  
Online Lending

Abstract   Financial technology innovation that occurs nowadays leads to accelerated changes in the financial sector. However, these developments are like double-edged swords, on the one hand they provide convenience for consumers, on the other hand pose risks for consumers related to the confidentiality of their personal data. Money lending business through Peer to Peer lending (P2P lending) system often results in consumers receiving threats when they are late making payments. This paper presents several cases that result in consumers experiencing personal data theft, receiving threats directed at relatives or acquaintances. Even committing fraud by taking money from borrowers or customers without following the regulations made by the Financial Services Authority (OJK). The research data is carried out in a qualitative normative way where the data is translated based on legal norms and uses legal theory that can explain and answer existing legal problems.   Keywords: Consumer Protection, Peer to Peer lending (P2P lending), Private Data Protection   Abstrak   Inovasi teknologi keuangan yang terjadi saat ini mengarah pada akselerasi perubahan di sektor keuangan. Namun perkembangan tersebut ibarat pedang bermata dua, di satu sisi memberikan kemudahan bagi konsumen, di sisi lain menimbulkan risiko bagi konsumen terkait kerahasiaan data pribadinya. Bisnis money lending melalui sistem Peer to Peer lending (P2P lending) seringkali mengakibatkan konsumen mendapat ancaman ketika mereka terlambat melakukan pembayaran. Makalah ini menyajikan beberapa kasus yang mengakibatkan konsumen mengalami pencurian data pribadi, menerima ancaman yang ditujukan kepada kerabat atau kenalan. Bahkan melakukan penipuan dengan mengambil uang dari debitur atau nasabah tanpa mengikuti ketentuan Otoritas Jasa Keuangan (OJK). Data penelitian dilakukan secara normatif kualitatif dimana datanya diterjemahkan berdasarkan norma hukum dan menggunakan teori hukum yang dapat menjelaskan dan menjawab permasalahan hukum yang ada. Kata kunci: Peer to Peer lending (P2P lending), Perlindungan Konsumen, Perlindungan Data Pribadi   Kata Kunci: Perlindungan Konsumen, Peer to Peer lending (P2P lending), Perlindungan Data Pribadi

scholarly journals “THE DEVELOPMENT OF DIGITAL ECONOMY IN INDONESIA”

2021 ◽  
Author(s):  
Made Bagoes Pradhana
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
New Technology ◽  
Information Service ◽  
Financial Information ◽  
Financial Industry ◽  
Savings And Loans ◽  
The World ◽  
Money Transfer ◽  
Financial Technology

Currently the world has entered the industrial era 4.0 which is based on new technology and is able to change the entire chain and management in every branch of industry, including the financial industry known as financial technology and digital banking. Infrastructure financial services are growing rapidly in Indonesian services, computation with startup companies, such as payment and money transfer systems, savings and loans, insurance, financial information service providers, capital markets, crowdfunding, and wealth management.

scholarly journals The Role of Financial Technology in The Creative Industries in Indonesia

2020 ◽  
Vol 1 (2) ◽  
pp. 23-26
Author(s):  
Nono Heryana ◽  
Rini Mayasari ◽  
Rudi Aprianto
Keyword(s):  
Financial Services ◽  
Rapid Development ◽  
Modern Technology ◽  
Creative Industries ◽  
The Internet ◽  
Creative Industry ◽  
Use Of Technology ◽  
Modern Era ◽  
Financial Technology

In the modern era, the use of technology is growing rapidly to obtain information and various other electronic services, many people who already use technology, especially the internet to facilitate their work. Seeing the rapid development of the internet has given rise to various innovations, especially financial technology to meet the various needs of the community including access to financial services and transaction processing. Fintech (Financial Technology) is an innovation in the financial sector that refers to modern technology used to transact, check deposit rates, transfer funds, and perform various other financial services. The creative industries are an industry that utilizes the creativity and skills of individuals use as goods of value. The purpose of this study is to determine the role of financial technology and its constraints in the creative industry in Indonesia. The existence of innovation and creativity that arises in the community, making the creative industry is an essential role in the development of a regional economy. The research method used in writing this article is descriptive qualitative. Thus, qualitative research only describes responses to situations or events so that it does not explain causality or do hypothesis testing.

scholarly journals A Flourishing Fintech Ecosystem: Conceptualization and Governing Issues in Malaysia

2021 ◽  
Vol 11 (3) ◽  
pp. 106
Author(s):  
Sharina Tajul Urus ◽  
Intan Salwani Mohamed
Keyword(s):  
Developing Countries ◽  
Big Data ◽  
Financial Services ◽  
Digital Technologies ◽  
Research Topic ◽  
Digital Devices ◽  
Business Transactions ◽  
Research Areas ◽  
P2p Lending ◽  
Financial Technology

Transforming business transactions from the old "bricks and mortar" physical transaction to "click and order" via digital devices gave birth to financial technology or Fintech. Fintech has arguably democratized financial services, allowing non-traditional firms to enter the space. Fintech refers to digital technologies that integrate various forms of technology, including Blockchain, Robo-advisors, Crowdfunding, Big Data, Peer-to-peer (P2P) lending and intelligent investment consulting in the financial sector. Nonetheless, the Fintech research topic in developing countries like Malaysia is still at the nascent stage. The previous literature has recognized the Fintech evolvement, features, and effect but has not yet provided a comprehensive conceptualization and manifestation. The governing issues of Fintech are also still worth further investigation. Based on the fintech literature review, this paper explores the Fintech conceptualization and its governing issues in-depth. The study will contribute to understanding Fintech, its manifestation, and how Fintech evolves. This concept paper also shed some light on Fintech research areas by identifying the governing issues surrounding Fintech implementation. From the practical perspective, the contribution is a recommendation on how the Fintech application could be utilized optimally by the Fintech companies that would positively impact the Malaysia ecosystem and contribute to the national agenda.

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