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Jakarta Post

Fintech lenders, OJK launch data center as bad loans rise

  • Adrian Wail Akhlas

    The Jakarta Post

PREMIUM
Jakarta   /   Mon, November 11, 2019   /  05:58 pm
The Jakarta Post Image
A Fintech app shown in a smartphone displayed at the Indonesia Fintech Forum 2019 in Jakarta on Oct. 4.(JP/Dhoni Setiawan)

The Indonesian Fintech Lenders Association (AFPI) is partnering with the Financial Services Authority (OJK) to open a data center that will enhance the assessment of customers' credit rating as bad loans rise in the burgeoning fintech lending sector. AFPI technical support head Ronald Andi T. Kasim said the data center would integrate peer-to-peer (P2P) fintech lending platforms data in a bid to identify excessive lending, bad credit and fraud. "P2P platforms are obliged to assess borrowers' background at the data center before providing them with loans,” Ronald said during the launch of what the AFPI and OJK called the “data center” in Jakarta on Monday, adding that the data bank would be helpful to ensure the "health of the industry." “The assessment can only be conducted should the borrowers apply for loans or still have outstand...