KinerjaPay Corp (fka KPAY)

[John23V]

Your cliff notes of OJK-AFPI meeting today:

1."With the advancement of technology, there are currently 164 registered Fintech Lending companies and 25 licensed OJK and become AFPI members. Today the fintech lending industry has filled the financial gap of Rp 74 trillion from the needs of Rp 1,000 trillion."

*So with their newest estimate, there is only another Rp 926 trillion of business left to be had. Just a hair under $68 billion USD.

2."Sunu continued, there are three strategic issues discussed in the meeting, and will be assisted by the Chief of the presidential staff one of them is: first, for the issuance of legislation (UU) privacy data Because nowadays is the digital era, in order to give a sense of Trust to users who use digital financial services. Secondly, the need for the LAW governing fintech industry, where the P2P Lending Fintech currently only has a device of OJK rules, will be further improved in the form of LAWS such as other financial services such as banking, insurance, multifinance that already has The financial services LAWS related to their respective industries. Thirdly, access data biometric that is for speed of service, or verification needed a good interconnection."

*They want laws above the OJK regulations. They want guaranteed data privacy. They want biometrics used to process loans.

We may have been late to the party, but I'm glad were in. Theyre going to regulate the hell out of p2p, making it even harder to get a license for start-ups and everyone else. The last thing I read about capping the number of p2p lenders was they are waiting to analyze data from 2109 and Q1 of 2020, and then the AFPI will make their recommendation.


Article :https://pressrelease.kontan.co.id/release/afpi-dan-ojk-bersama-kepala-staf-kepresidenan-bahas-arah-baru-umkm-dan-petani-digital-petani-tersenyum-indonesia-turut-tersenyum