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Jakarta Post
The Jakarta Post
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Less than half of 120 fintech firms registered at OJK

  • News Desk
    News Desk

    The Jakarta Post

Jakarta | Mon, March 5, 2018 | 02:17 pm
Less than half of 120 fintech firms registered at OJK A booth set up by the Financial Services Authority (OJK) at the Jakarta expo is seen in this undated photograph. (Kontan/Daniel Prabowo)

From about 120 financial technology (fintech) companies currently operating in Indonesia, only 36 have registered with the Financial Services Authority (OJK).

Of the 36 companies, 34 operate in Greater Jakarta, while the remaining two are situated in Surabaya, East Java, and Ternate in North Maluku, according to the acting commissioner of OJK’s non-bank financial industry supervisory department, M. Ihsanuddin as reported by kompas.com.

He added that 21 companies were supported by domestic investors, while 15 companies sourced their capital from foreign investors.

Another 42 fintech companies have expressed interest in registering with the OJK.

Ihsanuddin conceded that it was difficult for the OJK to identify the exact number of fintech companies operating in the country.

“So, Indonesia could have more fintech companies,” he said, adding that the amount of loans disbursed by these firms reached Rp 3 trillion (US$218.1 million) as of January, a 17 percent increase from the same period last year. (bbn)

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