Consumer Legal Protection Principles of Billing Mechanism by Digital Financial Service Provider: a Prescriptive Fintech Law Study in Indonesia

Financial Technology or Fintech currently grows rapidly in Indonesia. The total of loan disbursement reached 155,902.55 Million IDR in the end of 2020. Alongside with it‟s development this digital tool like two blades which has negative and positive aspects. This research tries to explore the philosophy of consumer protection in online lending practices and investigate the consumer protection in the online loan collection mechanism by digital financial service providers in Indonesia. Through using some theory and literatures such as the justice theory, consumer protection, economic and law morality, digital document and supported by several primary and secondary legal materials to explain and answer the research question. The research method is the prescriptive by combining the types of doctrinal, reform-oriented, and theoretical research. The results obtained by the author found similarities between dispute resolution from the perspective of the consumer protection act with the arbitration protection law and alternative dispute resolution which both provide legal certainty to the parties

PERLINDUNGAN HUKUM NASABAH BANK DALAM HAL PEMBERIAN INFORMASI NASABAH KEPADA PIHAK FINTECH LENDING BERDASARKAN PRINSIP KERAHASIAAN

Bank is a financial institution that collects funds and distributes public funds, in accordance with Article 3 of the Banking Law. Banking institutions have a very important role, especially in moving the economy of a country. The role of banking cannot be separated from the enactment of Law Number 10 of 1998 concerning Banking. In carrying out its functions and duties, banking cannot be separated from customers, be they depositors or borrowing customers. In carrying out its functions, the Bank is bound by several principles, one of which is the principle of confidentiality. The principle of bank secrecy is regulated in Article 4- to Article 47A of the Banking Law. The principle of confidentiality is very important to be maintained by the bank as a financial service provider, this is related to public trust in the banking sector itself. Banks are prohibited from opening data from customers without permission from the BI leadership or if the law says otherwise. Banks are prohibited from disclosing secrets related to financial data or loans from customers to third parties, in this case the fintech lending party. Banks as service providers will certainly comply with the Consumer Protection Law. The purpose of this paper is to identify and understand the principles of banking confidentiality. The method used in this paper is normative juridical, by examining primary and secondary legal materials, especially in terms of legislation.

IMPACT OF CORPORATE GOVERNANCE FAILURE ON PUBLIC TRUST: AN EVIDENCE FROM INDIA

This research study explores the maligned role of Chanda Kochhar, the top-notch executive of ICICI Bank, a leading multinational and financial service provider. An alleged corruption case was filed against her under the Prevention of Money Laundering Act. The case was filed against her after a whistleblower alleged that the bank had given INR 32.50 billion to Videocon group in 2012, the majority of which was declared as Non- Performing Assets later by the bank. This research study focuses on misused the position for personal gains. It touches upon the board of directors of an organisation's fiduciary role and tries to outline whistleblowers’ importance in corporate governance. The study unravels the conflicts of interest, alleged corruption, lack of disclosures of related party transactions required by corporate governance principles, and quid-pro-quo. The study will deliberate the impact of such alleged corruption on the various stakeholders, especially shareholders. The study is exploratory and qualitative and based on publicly available information. Other corroborative evidence verifies the reliability of the information. This study will offer suggestions to improve the corporate governance principles to the regulators. JEL Classification Codes: D73, D74, G21, G34.

Regulating FinTech Through Sandboxes

Fintech emergence post-Global Financial Crisis puts a threat to the banking industry. One of the strategies for the banks to stay afloat and relevant in the current digital era is through regulatory sandbox. A regulatory sandbox is one of the tools opted by financial regulators in certain jurisdictions to regulate the rapid growth of fintech products within their financial sphere. The pioneer of which was the UK's market and conduct regulator, the Financial Conduct Authority (FCA). Bank Negara Malaysia (BNM) was also one of the first jurisdictions that followed suit. One of the basic structures in a sandbox is the eligibility criteria that the regulators draw for the financial service provider to participate in the sandbox. This chapter shall address the entry requirements in both jurisdictions as the structure of the regulatory sandboxes differs from one jurisdiction to another. This topic is crucial to the banks as they need to understand further how regulatory sandbox may help them offer innovative financial products to level the competition with the fintech players in the market.

Peranan Petani Milenial mendukung Ekspor Hasil Pertanian di Indonesia

<p>A variety of <em>start-ups</em> and agricultural applications show that there has been an increasing interest in agriculture. Using information and communication technology to make agricultural products distribution and marketing more effective and efficient, millennial farmers are expected to improve the agricultural product export. However, exporting agricultural products is a challenge. Agricultural products are perishable and the exporters have to meet international food safety standards. The farmers deal with regulations, lack of facilities and infrastructures for production process, as well as the standards of <em>Good Manufacturing Practices</em>. This article aims to assess potentials of millennial farmers pioneering agricultural product export in Indonesia and to analyze the impact of various government policies to millennial farmers. They need appropriate technology to improve agricultural product value added and support for development potential of various agricultural start-ups. Required government supports include farm practice, export procedure training, and export market survey using internet, as well as conducive regulation easy access to financial service provider institution. Those supports will boost the millennial farmers’ spirit along with Ministry of Agriculture’s program of three-fold agricultural product export.<strong></strong></p>

Formation of Financially Competent Behaviour of the Population: Risks and security Conditions

This article considers the possibility of forming financially competent behaviour in the conditions of increased risks caused by current shock economic circumstances, as well as requirements for ensuring personal material security. The financial security of citizens depends directly on their daily decisions. An incorrect choice of a financial service provider, inattentive reading of contract terms, and lack of financial discipline can lead to a difficult financial situation. The increasing complexity of the financial market, the emergence of entirely new products and services, their digitalization, the development of the digital field of interaction of financial market participants, and, at the same time, the formation of new types of fraud, are a kind of signal for vigilance on the part of the population. It increases not only financial but also digital and legal literacy, awareness of all aspects and “rules of the game” in the financial market, when interacting with financial institutions.

Technological, Organizational and Environmental Framework for Digital Transformation in South African Financial Service Providers

This paper addresses technological, organizational and environmental contexts as experienced within South African Financial Service Providers, with respect to digital transformation. Although digital transformation is well studied, the research problem is that literature inadequately addresses how these three contexts manifest and play a role as financial service providers transform to digital business. Informed by interpretivist philosophy stance and case study strategy, this paper shows how digital transformation is enabled or inhibited by contextual influences. The paper argues that digital transformation ought to manifest cognizant of the context in which the financial service provider finds itself. To this point, the paper conceptualises a framework that may help in the digital business transformation.

IPTEKS PENGENDALIAN INTERN DENGAN MENGGUNAKAN UNIT APU DAN PPT PADA PT. BANK SULUTGO

The level of money laundering cases is increasingly high and the issue of terrorism is so high at this time. making companies engaged in financial services must be more careful so as not to become a means for criminals to carry out their actions. SulutGo Bank is a Bank whose share ownership is managed by the Regional Government of North Sulawesi Province. In accordance with OJK regulation No. 12 of 2017 which requires that the implementation of anti-money laundering and prevention of terrorism funding programs in the financial service provider sector, then Bank SulutGo establish the A and PPT Unit (Anti Money Laundering and Prevention of Terrorism Funding). With the establishment of the APU and PPT Unit, it is expected to be able to help the internal control system carried out by PT. SulutGo Bank. And it can also minimize the occurrence of crime of money laundering and funding of terrorist activities.Keywords : Internal Control, APU-PPT units

Achieving sustainable behavioral changes of daily work practices

Purpose Process-oriented behavior is a prerequisite for transforming a company into a process-oriented organization, but is difficult to achieve among employees. The purpose of this paper is to examine the effectiveness of role plays on adapting process-oriented behavior in daily work practices. Design/methodology/approach Using the theory of cognitive dissonance, the authors investigate whether role plays are an effective learning method. This study was conducted over a period of two years and included 212 participants of a financial services provider. Findings The results reveal that the role play used had a persistent impact on employees’ process-oriented behavior in terms of their process knowledge, their cross-functional coordination, and their continuous process reflection, but not on their process awareness. Thus, the authors conclude that despite high application costs, role plays are beneficial for financial services companies to train their employees. Research limitations/implications While the data stem from participants within one financial service provider only, this study contributes to the understanding how process-oriented behavior can be promoted sustainably in organizations. Practical implications The results indicate that companies aiming for process orientation should apply role plays to achieve a change in behavior of employees. Originality/value This research contributes to the understanding of role plays as an effective learning method to adopt process-oriented behavior.