JAKARTA. The Financial Services Authority (OJK) will take action on some financial technology companies (fintech) that has a non-performing loan (NPL) or TWP90 rate of over 5%.

Triyono Gani, Chief of Other Financial Institution Supervision Department of OJK, revealed that said actions include sending out written warning and a request of action plan of those companies for reducing its TWP90 case. Then, after securing the action plan, OJK will monitor and review the realisation. Should improvement be realised, the company will then enter normal supervision.

“If the action plan target has yet to be realised, they will be summoned,” Gani said earlier this week. It does not limit the possibility of OJK sanctioning the fintech with NPL rate of over 5%.

This serious action responds to plenty of fintech companies that have recorded increased non-performing loan rate to above 5%. TWP90 is known as the level of credit default that 90 days overdue. (AM/ZH)