In 2025, the Financial Services Authority (OJK) is urging peer-to-peer (P2P) lending companies to increase loan distribution to productive sectors, especially micro, small, and medium enterprises (MSMEs). According to the 2023–2028 Roadmap for the Development and Strengthening of Information Technology-Based Lending Services (LPBBTI), fintech loans to these sectors should range from 40% to 50% between 2025 and 2026.

The roadmap outlines three phases: Phase 1 (2023–2024) focuses on strengthening foundations, Phase 2 (2025–2026) targets consolidation and momentum, and Phase 3 (2027–2028) will focus on adaptation and growth. Each phase has specific funding targets for productive sectors and MSMEs. During Phase 1, the target is 30%-40%, rising to 40%-50% in Phase 2, and 50%-70% by Phase 3.

As of November 2024, fintech P2P lending’s funding to productive sectors reached only 30.91%, leaving a gap of 9.09% to meet the target for Phase 2. This is a challenge, but the Indonesian Fintech Lending Association (AFPI) remains optimistic about meeting the goal of 40%–50% funding in 2025–2026,.

AFPI Chairman Entjik Djafar stated that AFPI continues to encourage fintech lenders, especially those focused on the productive sector, to develop products aimed at MSMEs and ultra-micro businesses. "We also focus on increasing education and collaboration with MSME and ultra-micro communities," he added.

OJK also emphasizes the importance of legal fintech platforms. As of early 2025, 97 fintech companies are legally registered with OJK, a decrease from previous years as four companies have had their licenses revoked. Notably, TaniFund's license was revoked in May 2024, followed by Dhanapala and Jembatan Emas in July 2024. Most recently, OJK revoked the license of PT Investree Radika Jaya in October 2024.

Consumers looking to access loans should ensure they are using licensed platforms to avoid illegal lending practices. By increasing funding to MSMEs, OJK aims to foster growth in productive sectors while supporting legal fintech platforms in the process.

SOURCE: KONTAN | PHOTO: SBS.OX.AC.UK