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Fintech lending companies seek growth through rural banks

While major banks focus on developing digital banks in-house, fintechs seek partnerships with rural banks (BPRs) to gain market share in digital transactions. The collaboration between fintech lending and BPRs is likely to grow, given the synergies provided by fintechs

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Fintech News

OJK announced 68 illegal lending business

With the rise in digital transactions and fintech lenders, OJK is catching up to regulate this sector. In early 2021, OJK found as many as 68 illegal non-bank financial sector businesses, consisting of 51 unlicensed P2P lenders and 17 pawn

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Fintech News

Neobanks in Indonesia

Neobanks, defined as financial technology companies that perform full digital banking services such as credit and deposit services, currently do not exist in Indonesia. Mr. Tony, Deputy Director of Indonesian Banking Architecture at OJK, explained that this is due to

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Fintech News

OJK plans to increase fintech lending to productive sectors

Financial Services Authority (OJK) plans to increase fintech lending for productive loans from 35.7% currently to ~60% of total loans disbursed by 2024. Consumer or personal loans currently dominate fintech lending, which have higher risk for bad debts. Productive loans

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