FINTECH: Pengawasan Bank Indonesia (BI) dan Otoritas Jasa Keuangan (OJK) perlu dimaksimalkan

Abstract

The research entitled FINTECH: Supervision of Bank Indonesia (BI) and Otoritas Jasa Keuangan (OJK) needs to be maximized with the aim of knowing BI and OJK in supervising the rapid development of Fintech over the last 3 years. In addition, this study also aims to find out the problems of Fintech supervision in Indonesia. According to Bank Indonesia, to protect the interests of consumers, a strong regulatory and supervisory approach is needed, such as using Regulatory Technology (RegTech) instead of a guarantee program that requires several prerequisites to reduce potential risks. Regtech is one way to anticipate Fintech violations by utilizing data or database-based technology, artificial intelligence or artificial intelligence to blockchain. Thus, supervision of governance, transactions, compliance to reporting obligations can be faster and easier. Meanwhile, the OJK is also currently reviewing and updating POJK 77/2016 regarding Fintech P2P Lending. There will be some adjustments and improvements that will follow the development of P2P Fintech in the country in recent years. Several factors that will be a concern are capital provisions, governance, risk management, licensing and institutions. OJK wants to encourage P2P to be more resilient and have good quality to compete in a healthy manner.