Penerapan RegTech dalam Penyelenggaraan Fintech Lending di Indonesia

Abstract

Financial Technology is relatively new innovation in the financial sector in Indonesia, both in terms of regulation and in practice. Nevertheless, fintech lending is in fact able to become one of the fastest growing fintech fields among any other categories of fintech in Indonesia today, adapting to the needs of the existing society, and even being able to compete in business-terms with conventional financial institutions, such as banks, in terms of providing loans, financing and capital provision. However, the implementation of fintech lending that has special characteristics in the form of the use of information technology in its business implementation surely must be regulated, supervised, and supported by regulations, supervisory authorities and infrastructure oriented and based on information technology, namely one of the solution through RegTech (Regulatory Technology) instruments. This study was conducted to find out whether the regulations and infrastructure prepared for the implementation of fintech lending in Indonesia have included the concept of RegTech as required in the practice of implementing fintech. This research was made with a juridical-normative research method using statutory and conceptual approach. The results of this study are concluded that the majority of mechanisms for implementing fintech lending in Indonesia are still carried out manually and have not been comprehensively regulated, thus requiring improvements to regulations and monitoring mechanisms, especially in maintaining financial service stability and ensuring consumer protection and data protection that need to be supported by adequate information technology infrastructure.