Indonesian Chamber speaker Bambang Soesatyo assessed attendance at financial technology (Fintech) as an innovation born of the advancement of information technology, in addition to being able to withstand economic efficiency, also has the potential to be a source of risk that can affect the stability of the financial system. Because of this, Fintech's proliferation needs to be aggressively monitored by Bank Indonesia (BI) and the Financial Services Authority (OJK).
"Currently, the legal basis for Fintech's implementation in the Indonesian payment system refers to various regulations issued by BI and OJK.Now further analysis on the need for a law on Digital Finance, as stated by OJK, and BI and OJK as regulators need a law that specifically regulates Fintech, the Indonesian Chamber of Representatives is very open to receiving various inputs, "said Bamsoet at the INDEF Seminar on" The Role of Information Technology Finance in the Promotion of Financial Inclusion in Indonesia ". 03).
The Deputy Chairman of KADIN Indonesia explained that several regulations relating to Fintech were contained in an Indonesian Bank Regulation No. 18/40 / PBI / 2016 on the Implementation of Payment Transaction Processing, Circular Bank No.18 / 22 / DKSP of Bank of Indonesia on the Implementation of Digital Financial Services, and Bank of Indonesia Regulation No. 18/17 / PBI / 2016 on Electronic Currency.
In addition, OJK Regulation No.77 / POJK.01 / 2016 on Information Technology Loans and Services for Loans and Services (peer to peer landing), Regulation OJK 13 / POJK.02 / 2018 on digital financial innovation in the financial services sector, OJK Regulation No 12 / POJK.03 / 2018 on the application of digital banking services by commercial banks and Regulation OJ No. No 37 / POJK 04/2008 on investment funds in the form of limited investment collective investment agreements (crowdfunding equity)
The legislator of the Central Electoral District of Java VII, which covers the Purbalingga, Banjarnegara and Kebumen Regions, ensured that the Indonesian Chamber of Deputies emphasized BI and OJK as partners of the House of Representatives Committee XI to be attentive to various developments at Fintech .
Considering the many complaints from the public to DPR RI about the existence of Fintech, which is not really an aid, it has even bothered the public. Among other things, violations of the law of personal information retrieval, distribution of personal data, issues of loan interest and the emergence of Fintech illegal.
"We thank the OJK Investment Alert Force which stopped more than 200 illegal Finteches." In several working meetings with OJK, the Indonesian Parliament through the XI Commission has always reminded OJK to tighten supervision. operation is closed, but take legal action against "Illegal Fintech has a deterrent effect," explained Bamsoet.
The head of the State Defense Agency of FKPPI explained, with a population of 265 million, Marketplace Indonesia against Fintech is very big. The results of Oliver Wyman's research, an international management consulting firm, noted that Fintech's potential financing in Indonesia reached $ 130 billion.
Most of the potential is directed to Micro, Small and Medium Enterprises (MSMEs). This is not surprising because many individuals who are involved in MSME do many transactions with a number that is not very large but the intensity is quite high.
"We do not want the development of information technology to facilitate payment transactions in the community, especially for MPME players, which are used by Fintech. illegal making profits on dirty roads, "Bamsoet concluded.