Information Technology Based Law Office

Technological advances are often not followed by the development of rules that follow these developments in the framework of ensuring legal certainty and business certainty. Our law office handles legal issues that are often encountered related to electronic delivery of information, communications and/or transactions, resulting in losses for Clients.

Fintech as a type of service in the financial sector that uses technology as its main means of providing convenience and speed in aspects of financial services. Fintech broadly covers financial services such as payment methods, fund transfers, loans, fundraising, and others. Fintech lending specifically relates to money lending services facilitated by information and communication technology.

Article 3 paragraph (1) Bank Indonesia Regulation No. 19/12/PBI/2017 of 2017 concerning Implementation of Financial Technology (PBI 19/2017) divides fintech into 5 types, namely:

Payment system, where the fintech operator becomes the operator engaged in the payment sector which includes authorization, clearing, final settlement, and execution of payments. Peer-to-Peer (P2P) lending and crowdfunding, where parties who need funds are brought together with parties providing funds as capital or investment through an online network Investment risk management, where users can control their financial conditions via the internet such as financial planning and others only through smartphone without the need to physically come to a Bank Market aggregator or market supporter, where various kinds of information such as prices, features, and benefits related to a financial product are first presented before the user makes a decision. Other financial services, services or other fintech operations that are not included in the category -The category above PBI 19/2017 also regulates several obligations of registered fintech operators (Article 8 paragraph (1)), including the following:
  1. Implement consumer protection principles
  2. Maintain the confidentiality of consumer data and/or information
  3. Apply risk management principles and prudence
  4. Using rupiah in every transaction made within the territory of Indonesia
  5. Applying the principles of anti-money laundering and preventing the financing of terrorism
  6. Fulfill the provisions of other laws and regulations
In Indonesia, currently regarding fintech lending is also regulated in the Financial Services Authority Regulation No. 77/POJK.01/2016 of 2016 concerning Information Technology-Based Money Lending Services (POJK 77/2016), where Article 1 point 3 states :

"Information Technology-Based Money Lending and Borrowing Services is the provision of financial services to bring together lenders and loan recipients in the context of entering into loan and borrowing agreements in the rupiah currency directly through an electronic system using the internet network."

POJK 77/2016 further regulates the implementation of fintech lending in Indonesia, one of which is that P2P lending operators apply for registration and licensing directly to the Financial Services Authority (Article 7). OJK specifically regulates and supervises P2P lending activities because the nature of P2P lending services is an innovation in the field of financing.


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