Fintech Day by Business Law Community Fakultas Hukum Universitas Gadjah Mada: Seminar Hukum Bisnis “Implementasi dan Tantangan Financial Technology Peer-to-Peer Lending di Indonesia dalam Membangun Sistem Perekonomian Nasional”
The Business Law Community (BLC) of the Faculty of Law, Universitas Gadjah Mada, in collaboration with the Financial Services Authority (OJK) and LKSP, held a Business Law Seminar entitled “Implementation and Challenges of Financial Technology Peer-to-Peer Lending in Indonesia in Building the National Economic System.” The event was held at Bulaksumur Hall, University Club Hotel, Yogyakarta, on Saturday (22/9).
The seminar aimed to explore the opportunities and legal challenges faced by the financial technology (fintech) peer-to-peer lending industry in Indonesia. This discussion was considered important given the rapid growth and adoption of technology in Indonesia, which has not always been accompanied by sufficient public understanding of the legal aspects of fintech, particularly the protection of parties involved in the peer-to-peer lending ecosystem.
The seminar was officially opened by the Dean of the Faculty of Law, Universitas Gadjah Mada, represented by Richo Andi Wibowo, S.H., LL.M., Ph.D., Vice Head of the Undergraduate Law Study Program at FH UGM. The event was attended by approximately 250 participants from various backgrounds, including students, academics, business practitioners, and members of the general public.
The first session featured Dr. Hendrikus Passagi, M.Sc., CFTP, Director of Fintech Licensing and Supervision at the Financial Services Authority (OJK), who delivered a presentation entitled “Indonesian Fintech Lending: Online Collective Funding.” He outlined the potential growth of fintech in Indonesia, including its ability to provide funding across various stages of business development, from upstream to downstream sectors, as well as the creative economy. He also emphasized the importance of fintech regulations in protecting all parties involved in the ecosystem. During the session, Dr. Hendrikus also highlighted the risks associated with illegal or unregistered fintech platforms. These risks include platforms that do not provide a clear address, impose high interest rates, or engage in cyberbullying. Therefore, the presence of regulations is essential to protect the interests of all parties, alongside public awareness in verifying the credibility of fintech lending platforms through the OJK.
To provide a broader perspective, BLC FH UGM also invited business law academic Inda Rahadiyan, S.H., M.H. from Universitas Islam Indonesia, as well as fintech practitioners Dr. Amiruddin, Co-Founder of Investree, and Chris Antonius, Director of Toko Modal. The discussion emphasized the importance of maintaining a balance between regulatory developments and technological innovation in addressing the legal challenges within the peer-to-peer lending ecosystem. The first session was followed by a panel discussion entitled “The Reality of Peer-to-Peer Lending Platforms as an Alternative Source of Funding for the Public.” The discussion was moderated by the OJK and featured Stanislaus Tandelilin, CEO of Modal Rakyat; Arief Ghani, Business Development Manager of Modalku; Susli Lie, Co-Founder of Dana Cita; Dipo Staria R., CEO & Co-Founder of Investree; Zul M. Bahri, CEO of Danamas; and Samuel Sentana, Head of Financial Technology at Tokopedia.
In addition to OJK and LKSP, the seminar was supported by Modalku, Modal Rakyat, Investree, Dana Didik, Dana Cita, Danamas, and Toko Modal. On the occasion, Rico Andi Wibowo, S.H., LL.M., Ph.D., representing the Dean of the Faculty of Law, Universitas Gadjah Mada, expressed his hope that the seminar would serve as an initial platform for the FH UGM academic community to critically examine legal developments and challenges within the fintech peer-to-peer lending ecosystem. This expectation was echoed by Yoda Rifki, Director of BLC FH UGM, who expressed his hope that BLC could become a driving force for the development of fintech law in the Yogyakarta region. More broadly, Dr. Hendrikus Passagi, M.Sc., CFTP, Director of Fintech Licensing and Supervision at OJK, hoped that the seminar would provide valuable insights, particularly for MSME (Micro, Small, and Medium Enterprises) practitioners in Yogyakarta, in developing their businesses given the significant number of MSMEs in the region.
