Bad credit in the fintech peer to peer (P2P) lending industry seems to be still relatively good. Despite the increase, the 90-day default rate (TWP90) is within the safe threshold.Chief Executive for Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions and Other Financial Services Institutions OJK Agusman said TWP90 will increase to 3.47% in July 2023. "The TWP90 last month was 3.29%," he said at the OJK Board of Commissioners Meeting, Tuesday (5/9). Based on OJK data, the TWP90 fintech lending figure had decreased in June 2023 to 3.29%. Previously, TWP90 increased successively from 2.81% in March 2023, then 2.82% in April 2023, then reached 3.36% in May 2023.
Co-Founder and CEO of PT Investree Radhika Jaya or Investree Adrian Gunadi stated that his party always maintains the TWP90 acquisition figure below the industry average.
"Recently, industrially, there has been an increase in TWP90 which is caused by several conditions experienced by every fintech lending provider. "Investree's TWP90 as of July was 3.51%, below the industry average of 3.90% (AFPI data)," he said.
Adrian explained that the increase was caused by the impact of Covid-19 which was still being felt by MSME players until now. According to him, some of these MSMEs have had successful business rebounds, and some have not.
"Especially for fellow borrowers whose loans have undergone restructuring, not all of them have succeeded in maintaining their business even though they have been given this relaxation," he explained.
He added that a number of sectors/industries whose businesses did not succeed in recovering after restructuring included garments and textiles, oil and gas, as well as general engineering and construction.
"We have categorized several of these sectors as high risk," he added.
CEO of PT Mulia Innovation Digital (Danain), Budiardjo Rustanto said that Danain's TWP90 per week was at the level of 2.7%. According to him, Danain is productive funding so people's purchasing power really determines the borrower's ability to pay.
"Several fund recipients (borrowers) who were contacted stated that there had been a decline in their sales or business turnover in recent months. We hope this is only temporary," he said.
Even so, Budiarjo targets Danain's TWP90 at the end of the year to be below 2%, to achieve this his party has also prepared various strategies.
"We will increase collection efforts with stricter monitoring but still carry out collection efforts in accordance with applicable regulations and ethics," he said.
Meanwhile, Group CEO & Co-Founder of PT Acceleration Usaha Indonesia Tbk or Akseleran, Ivan Nikolas Tambunan stated that TWP90 acceleration was stable at below 1%. According to him, Akseleran provides loans carefully so that it can maintain that ratio.
“We carry out loan assessments prudently. "This is key," he said.
Ivan said that Akseleran targets TWP90 to remain below 1% by the end of the year, of course by continuing the strategic plans that have been implemented.
"The strategy is to carry out a prudent loan assessment, assessing the borrower's cash flow based on the borrower's financial data using machine learning tools," he said.
Apart from that, continued Ivan, validating the underlying loan (invoice/PO) in detail, including controlling payments for invoices/POs which are used as underlying loans so that they are not used for anything other than paying the loan.
“Third, check the borrower's credit history. "We make sure borrowers have the capacity to pay their obligations," he said.
