Appeal for Fintech Users.

    • Appeal for Fintech Users.

      The increasing variety of Fintech operations in society often creates legal problems involving the legality of business entities to legal issues of consumer protection. This happens because of the lack of legal knowledge of fintech business actors and fintech users.

      Various fintech arrangements ranging from technological innovations in the organization of financial services and financial technology innovations related to payments and transfers as well as financing and investment.
      In the financing and investment sector, Peer-to-peer (P2P) lending, Crowdfunding, Supply Chain Finance and so on and the development of the fintech Information and Feeder Site, Robo Advisor and Blockchain that makes it easier for financial consumers to use these financial products and services.

      The development of the fintech business was also followed by a variety of legal issues concerning consumers of fintech users, which were experienced in P2P Lending fintech. there are many reports related to violations in P2P fintech activities to those that take lives.

      Because in getting a fintech online loan that is very easy, that is, just by downloading the fintech application, consumers can borrow a number of funds by inputting Identity Card data, account numbers and self-portraits and then within a certain period, the loan will go into the borrower's fund account.

      Online loan users must ensure the following clause before determining the fintech provider entrusted in lending funds to you so that you can avoid violations that are vulnerable by Fintech organizers.

      You must ensure that the fintech organizer application is registered. After you make sure that the fintech organizer has registered. You must read each point in the loan agreement and ask the fintech organizer if there are clauses that are considered to be burdensome for consumers.

      If you already understand the clauses in the agreement, you can approve the online loan while still being careful of any offer given by the fintech organizer.
      The Fintech Provider is obliged to provide users with up-to-date information that is honest, clear and not misleading to the user and to provide all information relating to acceptance, delay or rejection of the fintech loan.

      The fintech provider is also obliged to pay attention to the suitability between the needs and abilities of users so as not to cause problems with bad loans in the future. In addition, fintech providers must maintain data confidentiality and protect personal data of users.

      If, as a user, you find that the organizer of fintech discloses your personal data, you can report the matter to the authorized institution, the Financial Services Authority.