On March 9th, 2021, the Indonesian Joint Funding Fintech Association (Asosiasi Fintech Pendanaan Bersama Indonesia - AFPI) held a webinar event on “COVID-19 and Indonesia Fintech Lending: Path Forward for Players, Regulators, and Investors”.
The event investigated the impact of the Covid-19 pandemic on the Indonesian Fintech industry, and more specifically, on the Fintech regulation and investing climate. Webinar participants also discussed on how to build a collaborative Fintech ecosystem.
The Indonesian Joint Funding Fintech Association (Asosiasi Fintech Pendanaan Bersama Indonesia - AFPI) is an organization that houses the Fintech Peer to Peer (P2P) Lending or Fintech Online Funding business in Indonesia. The Financial Services Authority (OJK) appointed AFPI as the official association of information technology-based lending and borrowing service providers in Indonesia.
Fintechs are the most dominant category of start-ups in Indonesia, and COVID-19 Pandemic has significantly affected this sector. Considering the crucial role Fintechs will play in future digital economy, Indonesian Fintech players and associations need to understand all the factors that accelerate, or restrict, Fintech investments.
The AFPI event aimed at provide an overview of the current situation, including industrial regulation and supervision, ways of adaptation, and improving Fintech collaboration with the digital ecosystem.
CRIF sponsored this event through its affiliate Indonesian company PT CLIK, licensed by the Financial Services Authority of Indonesia (OJK) to operate a credit bureau.
“CLIK's involvement in this event is aimed at showing support for the Fintech lending industry”, commented Leonardo Lapalorcia CEO of CLIK. “Fintech lending has played a key role in supporting the economy and society in these very difficult times. The ability of FinTech lenders to adapt to fluid market conditions has significantly contributed in growing financial access for both consumers and MSME in Indonesia, despite the global economic crises. We are proud to support several Fintech lending institutions with our data and predictive analytics services and, in our own way, contribute to the growth of more inclusive and sustainable Fintech lending practices”.
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