Economy and Trade

 TaniFund's Bad Loans Reach 48 Percent, This is OJK's Response

The Financial Services Authority said it was carrying out strict supervision of financial technology (fintech) aka agri-based online loans (pinjol) at TaniHub, namely TaniFund. In Tanifund's website, TKB or the success rate of collection providers within a period of up to 90 days from the due date is only 51.73 percent. Or in other words, traffic jams reached 48.27 percent. Far below the industry. Based on OJK Fintech statistics, until July 2022, the loan industry recorded a TKB90 of 97.47 percent. This means that only about 2.53 percent of the funding is in default. OJK Spokesman Sekar Putih said regarding Tanifund (TF), OJK is currently conducting strict supervision of this platform. "We have asked TF for an action plan to improve its performance and we are monitoring it intensively. In addition, it is currently in the process of a special inspection to ensure the condition of the platform," he told Bisnis, Sunday (2/10/2022). Lenders must understand that the risk of funding stuck in P2P lending transactions is the lender's risk. If the borrower does not pay according to the agreement, then the funding risk is borne by the lender. The obligation of the P2P lending platform is to make the best efforts to collect the borrower, if the loan is not returned according to the agreement. Prior to lending, the P2P lending platform provides information on prospective borrowers, including the results of their scoring and facilitates credit insurance, especially if the lender chooses risk mitigation in the form of insurance.

To help with education, on the P2P lending platform application/website there is a risk disclaimer that serves to remind (prospective) lenders of the risks of transacting at loan. "We expect the public / lenders to read and understand the risks. In addition to understanding the risks, prospective lenders are also expected to look at the prospective borrowers to be funded," he explained. OJK always monitors the P2P lending platform for its obligations to lenders and borrowers. OJK also asks P2P lending platforms to be more selective in facilitating funding so that the quality of P2P lending platform funding does not get stuck. For example, the Tanifund application, P2P lending owned by agritech startup TaniHub, received a rating of 1.1 on Google Playstore due to funding jams. In Tanifund's website, TKB or the success rate of P2P Lending providers in facilitating the settlement of borrowing and borrowing obligations within a period of up to 90 days from the due date is only 76.3 percent. Where the average P2P Success Rate (TKB) is in the range of 100 percent-90 percent. Tanifund users also said that funding from Tanifund was stuck. One of the Tanifund users, Muhammad Hamdani, said that of the nine funds taken from Tanifund, all of them experienced congestion. He said that when he tried to contact customer service, no appropriate answer was given and social media comments were limited. "I am giving 1 star because it is too unprofessional and I don't know how to hasten the principal money back," he said, quoted from Playstore on Monday (29/29/2011). 8/2022) Not much different, another Tanifund user, Aryani Lo, explained that his funding was stuck and had passed its maturity so that its status was substandard. He said there was no clarity on when to repay the principal loan. "Not recommended P2P platform, very disappointed," he said. In the review, TaniFund gave the same answer, that is, it is advisable to contact customer service via WhatsApp or email. Meanwhile, when Bisnis tried to confirm this to Tanifund and Tanihub, neither of them gave a response.

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