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Association that embodies Fintech in Indonesia
Published on 12 May 2023
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Association that embodies Fintech in Indonesia
Fintech or Financial Technology has been growing rapidly in recent years in Indonesia. Fintech has made it easy for people to access financial services through digital technology, such as digital banking, investment, peer-to-peer lending, and so on.
However, along with this rapid development, the fintech industry also requires adequate regulation and supervision. Therefore, there are several associations that act as a forum for fintech actors in Indonesia to develop this industry in a sustainable manner and ensure the sustainability of a healthy and safe fintech industry for the community.
The following are some of the associations that house fintech in Indonesia:
Indonesian Fintech Association (AFTECH)
AFTECH is an association formed in 2015 to accommodate fintech players in Indonesia. AFTECH acts as a liaison between fintech players and regulators and other stakeholders, as well as a means for collaboration and sharing experiences among fintech players. AFTECH also provides support and education to the public about fintech and how to use it safely.
here is the official website: https://fintech.id/
Indonesian Sharia Fintech Association (AFSI)
AFSI is an association formed in 2016 to accommodate sharia fintech players in Indonesia. AFSI plays a role in promoting sharia fintech and educating the public about sharia principles in finance. AFSI also acts as a liaison between sharia fintech players and regulators and other stakeholders.
here is the official website: https://fintechsyariah.id/
Indonesian Co-funding Fintech Association (AFPI)
AFPI is an association formed in 2016 to accommodate fintech players engaged in peer-to-peer lending (P2P lending). AFPI has a role in ensuring healthy and safe P2P lending practices for the community, as well as educating the public about P2P lending and how to use it wisely. AFPI also provides a complaint service channel for people who have problems with their funding in certain Fintech P2P.
here is the official website: https://afpi.or.id/
Indonesian Crowdfunding Service Association (ALUDI)
ALUDI is an association formed in 2018 to accommodate fintech players engaged in crowdfunding services in Indonesia. ALUDI acts as a liaison between fintech crowdfunding players and regulators and other stakeholders. ALUDI also provides support and education to the public regarding crowdfunding and how to use it wisely.
here is the official website: https://aludi.id/
With the support and cooperation between fintech players, regulators, stakeholders and the public, it is hoped that the fintech industry in Indonesia can develop in a sustainable manner and provide innovative and affordable financial solutions for the community. Therefore, fintech players in Indonesia are expected to actively join existing associations and participate in various activities to advance the fintech industry in Indonesia.
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PT. ETHIS FINTEK INDONESIA
Rukan Puri Mansion block B no. 7 Outer Ring West Kembangan Street, RT.2/RW.1, South Kembangan, Kembangan District, Special Capital Region of Jakarta 11610
Customer Service: support@ethis.co.id
Operational Hours: 09.00 - 18.00 WIB
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Notes:
1. Tech-based Islamic Financing service (P2P Financing) is a civil agreement between Funder and Beneficiary, in which all risks are charged to all parties.
2. Payment failure is charged to the Funder, except for fraud case and mismanagement. Beneficiaries are imposed if fraud and mismanagement happens as in Risk Sharing terms based on Islamic Principles. There is no national institution or authority that is responsible to financing risk or payment failure or compensating on any parties including loss, failures, fees or consequences after.
3. The platform with agreement from all respective users (funders and/or beneficiaries) accesses, gains, stores, manages and/or uses users’ personal data (Data Utilization) on or in the objects, electronic devices (including smartphones or cellular phones), hardwares or softwares, electronic documents, applications or electronic systems belong to Users or managed by Users, upon the information of aims, limitations and mechanism of Data Utilization to the Users before the approvals.
4. Funders with limited knowledge on this financing are suggested not to use this service.
5. Beneficiaries are obliged to consider return rates/margin/service fee and other fees according to the ability to repay the financing.
6. Each fraud is recorded electronically in cyberspace and easily recognized by public through social media.
7. Users should read and understand this information before deciding to be a Funder or Beneficiary.
8. Government as in this case is Otoritas Jasa Keuangan (OJK) / Financial Services Authority is not responsible for violation or disobedience of users, Funder and Beneficiary (intentionally or unintentionally) against terms and conditions or agreement or attachment between the platform and Funder and/or Beneficiary.
9. Each transaction and financing activities, funding, financing or enforcement agreement regarding financing between or involves the Platform, Funder, Field Partner and/or Beneficiary should happen through escrow account and virtual account as stated in OJK regulation No. 77/POJK.01/2016 about Tech-Based Financing Services.
