Indonesia’s Investree officially registers with the Financial Services Authority
By Digital News Asia June 13, 2017
- Has met government standards in terms of operational infrastructure to run the business
- Will focus on aiding the growth of SMEs, especially those in the creative industry
PT INVESTREE Radhika Jaya (Investree), a pioneer peer-to-peer lending (P2P) marketplace in Indonesia, officially registered with the Financial Services Authority (OJK) on May 31 with the registration number of S -2492 / NB.111 / 2017 as indicated on the "Investee Radhika Jaya Registered Evidence" letter from OJK.
Investree is registered as an Information-Technology-based Lending and Borrowing Service Provider under the Directorate of Institutional and Products of Non-Bank Finance Industry (IKNB) administration.
This means that Investree has met government standards in terms of electronic systems, risk mitigation, human resource feasibility, and other operational infrastructure to run the business.
Initially Investree has been actively participating in developing the related POJKs, with the status now registered in OJK, it will continue to commit in fostering a sense of public trust in investing and contributing to the growth of Small and Medium Enterprises (SMEs), especially the creative industries through financial technology services (Tekfin) and P2P lending.
Investree co-founder and CEO Adrian Gunadi (pic) said, "We are very grateful that we are now officially registered under OJK's supervision and we also appreciate the process undertaken by OJK in its prudence to issue registered marks to similar technology services, for public confidence and consumer protection are priorities.
"In practice, P2P lending services provide access to financial intermediaries for various parties with no face-to-face contact, which raises doubts about using similar services. We hope that by being registered in OJK, we will be able to increase the trust of all stakeholders, especially lenders and borrowers in our platform and the community in general, so that everyone can grow.”
The registration is a follow-up related to POJK 77 / 01-2016 on Information-Technology-based Lending and Borrowing Services which requires that fintech companies in Indonesia must apply for a license as an organiser within one year of the issuance of POJK. In Investree’s case the POJK was issued in December 2016.
As of June 5, 2017, Investree had successfully disbursed loans amounting 148 billion rupiah with 592 total loans, a 17.5% average rate of yield, and no defaults.
Investree also commits to continuously improve services and achievements in order to provide the best for the wider community, especially in realising real financial inclusion in the country.
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