Indonesia's Financial Services Authority (OJK) called on Information Technology-Based Joint Funding Services (LPBBTI) providers, known as Pindar, to strengthen risk management by tightening repayment-capacity assessments and electronic know-your-customer (e-KYC) processes as the basis for granting funding. The aim is to better protect lenders on Pindar platforms and curb rising non-payment and default by borrowers. The push aligns with OJK Circular Letter Number 19/SEOJK.06/2023, which requires Pindar operators to conduct credit scoring and ensure the requested loan amount is consistent with the borrower’s financial capacity. Platforms are also prohibited from facilitating funding to borrowers who have already received financing from three Pindar operators, including the operator itself. OJK also urged the public to use Pindar funding prudently, including avoiding intentional non-payment and carefully weighing needs and repayment capacity to reduce exposure to illegal online lending and repeated debt rollovers; enforcement action will be taken for breaches. As an additional risk-management measure, OJK has set that from 31 July 2025 Pindar operators must become reporters to the Financial Information Service System (SLIK) under OJK Regulation Number 11 of 2024, with SLIK information intended to support creditworthiness assessments by Indonesian financial institutions.
OJK 2025-06-18
Indonesia's Financial Services Authority urges P2P lending platforms to tighten risk controls and become SLIK reporters from 31 July 2025
Indonesia's Financial Services Authority (OJK) urges Information Technology-Based Joint Funding Services (Pindar) providers to enhance risk management by improving repayment-capacity assessments and electronic know-your-customer processes. Aligned with OJK Circular Letter Number 19/SEOJK.06/2023, this initiative aims to protect lenders and curb borrower defaults. From 31 July 2025, Pindar operators must report to the Financial Information Service System to support creditworthiness assessments.