Financial Technology Vulnerable to Risks

There are still many potential risks that are stored in the business of financial technology companies. How do we ward off such potential risks? To what extent is the development of fintech companies from the lending side, the number of borrowers and the amount of the loans?

KOMPAS/DIDIE SW

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The Investment Alert Task Force of the Financial Services Authority (OJK) found 227 applications for lending and borrowing based on unregistered information technology. The majority of them are foreign products and from China (Kompas, July 28).

The finding constitutes the tip of the iceberg. It means there are still many potential risks that are stored in the business of financial technology (fintech) companies. How do we ward off such potential risks?