The peer-to-peer (P2P) lending sector in Indonesia has shown significant growth as 2024 nears its end. Platforms like Akseleran and Amartha have demonstrated robust performance, driven by their ability to innovate and ensure responsible lending practices.

Akseleran, for example, has distributed loans worth IDR 2.7 trillion as of November 2024, marking a 10% year-on-year growth. CEO Ivan Nikolas Tambunan attributes this achievement to the company’s rigorous risk management strategies, such as joint account mechanisms and prudent credit history assessments. These measures have kept their Non-Performing Financing (NPF) ratio stable at 0.2%, a commendably low figure in the industry.

Amartha, another prominent player, has provided over IDR 23 trillion in funding to more than 2.7 million micro, small, and medium enterprises (MSMEs). Using artificial intelligence for risk profiling and engaging 9,000 field agents to support borrowers, the company maintains a strong repayment success rate. Its TKB90 metric—measuring repayment within 90 days—remains high at 97.29%.

The industry’s growth is underpinned by broader regulatory efforts from the Financial Services Authority (OJK). As of October 2024, the overall NPF in the P2P lending sector had improved to 2.52%, reflecting stricter oversight and better compliance by platforms.

Choosing regulated platforms is critical for users, given the risks associated with illegal lending services. OJK's recent crackdown on non-compliant platforms highlights the importance of transparency and operational integrity. For businesses, tapping into reputable fintech providers can unlock new financing channels, bolstering growth in a competitive market.

KONTAN