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INSIGHTS / MOVERS AND SHAKERS

Growing together: a look at the Indonesia Fintech Association (Aftech)

Indonesia · Jan 15, 2019· By Putu Agung Wija Putera

©Aftech

The Indonesia Fintech Association sets an example of how professional associations can help new industries grow faster and better

In March 2018, P2P lending startups in Indonesia were taken aback when Wimboh Santoso, Chairman of the Financial Services Authority's (OJK) board of commissioners, said the companies had to stop displaying the OJK’s logo on their platforms.

These fintech firms, the official argued, were merely connecting lenders and borrowers – activities that did not fall under the OJK's purview – and so could not claim to be registered with and supervised by the central bank.

Edited by Bernice Tang

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