Fintech Indonesia User Legal Protection in Balance Borrowing Money Based on Information Technology

Abstract

The growth of FinTech companies in Indonesia is very rapid, currently, there are 142 FinTech Companies in Indonesia. The Financial Services Authority (OJK) continues to encourage the development of information technology-based financial service provider company (FinTech). OJK considers that the more number of FinTech companies, the better it would be. It is important to pay attention to legal protection for FinTech Users, because lending and borrowing services-based information technology has the potential to cause harm to FinTech users, besides being done online, the lender and recipient of the loan do not know each other, and there is no collateral in information technology-based lending and borrowing services. This paper discusses the legal protection of FinTech Users in information technology-based lending and borrowing services, and settlement of dispute in the event of a dispute between FinTech Companies and FinTech Indonesia Users. Legal protection for FinTech Users is provided in agreements made between FinTech Indonesia Companies and FinTech Users and law enforcement OJK Regulation No. 77/POJK.01/2016 The settlement of disputes by complaining to the FinTech Company, to the Financial Services Authority (OJK) or claiming through the General Court.