FinAccel’s P2P Lending Subsidiary KrediFazz Issued Operational License by Indonesia’s OJK

KrediFazz, a subsidiary of FinAccel that operates as a P2P lending Fintech, has been issued a business license from the Financial Services Authority (OJK) via the Decree of the OJK Board of Commissioners Number: KEP-81 /D.05/2021, dated August 24, 2021.

KrediFazz, a Fintech firm with its goal to offer quick, economical and accessible financial services, has now become “a fully licensed P2P lending fintech company,” according to a release.

KrediFazz CEO, Alie Tan, stated:

“Amid the increasing popularity of fintech among customers, especially in lending, the P2P lending license obtained by KrediFazz is a priority for us to strengthen our position as a credible and trusted fintech lending company in Indonesia. We hope that KrediFazz can be the right solution for people who need access to credit and can provide benefits in managing cash flow for individuals and micro, small and medium enterprises.”

Executive Director of the Indonesian Joint Funding Fintech Association (AFPI), Kuseryansyah, remarked:

“This is a very significant step for KrediFazz to set a good example on how a fintech lending company should operate. This momentum should also be utilised to further promote financial literacy to the public, especially to educate them to utilise fintech services for the better, increase awareness of people to only choose platforms that have been registered and supervised by OJK. In the future, we hope that public trust in fintech lending will continue to grow from time to time.”

A P2P lending service provider may operate legally “only after being registered and granted a license from the OJK,” the announcement clarified while adding that this means that from now on KrediFazz will be able “to further realize its ambition to expand safe, convenient, and affordable credit access for communities in Indonesia, especially those who have very limited access to banking services (underbanked).”

The license also “marks an important milestone for KrediFazz to continue its efforts in promoting financial literacy to the public,” the update noted while adding that as the firm witnesses rising demands for Fintech services amid this pandemic, KrediFazz “understands the urgency to educate the market to only use services from legal fintech lending entities and avoid traps of illegal ones.”

As noted in the release, KrediFazz is a Fintech lending platform in Indonesia that offers quick financing to clients “based on real-time decision making.”

KrediFazz brings an intuitive user experience that “ensures convenience in accessing loans.”

KrediFazz also provides affordable interest rates, convenience, and fully-online registration with “guaranteed security systems that are equivalent with banking standards.” The platform is run by FinAccel, a Fintech based in Singapore with a goal to offer quick, affordable and accessible financial services.

Additionally, FinAccel operates Kredivo, a digital credit platform in Indonesia, and is “supported by leading investors such as Mirae Asset, Naver, Square Peg Capital, Telkom Indonesia, and Jungle Ventures.”

KrediFazz has been granted a business license “as a company providing Information Technology-Based Lending and Borrowing Services (LPMUBTI) and is supervised by the OJK in Indonesia.”

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