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Jakarta Post

Online lenders join data center to foil recalcitrant borrowers

  • News Desk

    The Jakarta Post

Jakarta   /   Mon, February 10, 2020   /  04:20 pm
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P2P lending is the practice of lending money to individuals or businesses through online services that match lenders directly with borrowers.(Shutterstock/*)

Five major peer-to-peer (P2P) lending platforms have formally joined the Fintech Data Center established by the Indonesian Fintech Lenders Association (AFPI) late last year to protect online creditors from recalcitrant borrowers and bad debt. The association’s technical support head Ronald Andi T. Kasim said that by joining the data center, the five online lending apps could get data on the profiles of potential borrowers, their characteristics and the performances of their loans on other lending platforms. With such data, online lending platforms that have joined the data center can better vet their potential borrowers so they can prevent bad debt and delinquency, he said. Ronald said that the five online lending platforms, which consist of  Finmas, Danamas, Maucash, Julo and Mekar, were chosen as the pioneers to join the data center because they were most prepa...