Shadine Taufik · · 1 min readGoTo affirms compliance despite low repayment ratio for GoPayLater
Photo credit: GoTo
Indonesia-based Findaya, which collaborated with super app GoJek to offer GoPayLater, has seen a relatively low repayment ratio for its 90-day payment platform.
The fintech lending entity has a TKB90 ratio of 89.39% as of March 8, 2023, according to findings by Tech in Asia Indonesia.
This figure represents the success rate for settling loan obligations within up to a 90-day period from the due date. For context, Investree has a ratio of 95.4%, and Akeseleran has 99.5%.
“We always comply with all applicable regulations to ensure the best service for users, and adhere to our commitment to provide responsible loan services and continue to closely coordinate with the OJK,” Budi Gandasoebrata, GoTo’s financial group head for compliance, told Tech in Asia Indonesia.
GoJek has been partnering with Findaya since 2018 to diversify its financial services.
OJK, Indonesia’s financial services authority, is reportedly monitoring 25 fintech lending platforms with a TWP90 above 5%. TWP90 refers to the failure rate for settling loan obligations 90 days from the due date.
Tech in Asia Indonesia has compiled a list of lenders classified under this category – Pintek, TaniFund, and TrustIQ at the bottom with ratios above 37%.
See also: TaniHub’s future precarious amid C-suite exits, fresh allegations
A version of this article was originally published by Mujahid Fidinillah on Tech in Asia Indonesia.
Editing by Thu Huong Le and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
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