Indonesia Hopes P2P Lenders Can Self Regulate

Indonesia’s p2p lending market has had a number of issues including very high interest rates, fraud, aggressive debt collection and more; the regulators have endorsed a light touch self regulatory environment; there is concern that this approach will not police the industry enough and the market will repeat a lot of the same mistakes seen in China; the market overall has grown to more than $2.3bn with 7 million borrowers since first being approved in December 2016; in China the big issue was with investors who lost their savings due to fraudulent platforms, in Indonesia borrowers are being pressured; debt levels are rising and reports are that bad debts could be twice as large are currently reported; the industry hopes that media coverage, more bank participation and some of the top names can help to better self regulate before it is too late. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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