Local Fintech Julo Claimed to Have Received OJK Permit Recently

Fintech peer to peer (P2P) lending work of the nation’s child, PT Julo Financial Technology (Julo), officially pocketed a business license as one of the providers of information technology-based lending and borrowing services from the Financial Services Authority (OJK).

Previously, Julo, who was established at the end of 2016, was registered and supervised by the OJK. With an increase in status to an officially licensed company, Julo will continue to service and develop innovations for all its customers, as has always been done since the first time Julo was established.

CEO & Co-Founder, Julo Adrianus Hitijahubessy, said this achievement was a huge encouragement for the whole team. “Permission from OJK makes us more active in realizing the company’s mission and vision to support financial inclusion in Indonesia,” Adrianus said through his statement, Saturday (06/06/2020).

As of April 2020, only 25 P2P lending fintech had licenses from 161 fintech companies registered with OJK. In fact, the growth of loans channeled by fintech lending rose rapidly to 208.83% year-on-year, with a value reaching 100 trillion rupiahs in the first quarter of 2020.

The development of such a large industry certainly needs to be balanced with the growth of fintech companies that have licenses in Indonesia in order to facilitate the public’s need for non-bank loans, which in turn will drive the Indonesian economy at large.

More than 1 Million Users Downloaded

The Julo application, which has been downloaded by more than 1 million users, has an international standard certification in implementing an information security management system.

Julo is committed to helping the underbanked community, ie people with limited access to financial services, by providing loans with lower interest rates compared to other online loans, as well as ways of billing that comply with rules and ethics.

The company is grateful for OJK’s trust in providing permanent operational permits and appreciating all of Julo’s customers who have chosen and trusted Julo so far. As a licensed Fintech, Julo will continue to provide the best for customers and continue to assist the government in encouraging financial inclusion.

“Our journey is still long, hopefully with this new trust, Julo can serve customers better, develop more rapidly, and innovate faster,” Adrianus stressed.

Ready to Give Low-Interest Loans amid Pandemic

Julo’s loan application is now ready to provide low-interest loan funds in the midst of the Covid-19 pandemic. Fintech lending application (online loan) Julo also has an OJK (Financial Services Authority) license. Along with the outbreak of the coronavirus (Covid-19), many illegal fintech companies are closing down lending services.

It is undeniable, Online loan application services are often synonymous with large flowers and others. However, Julo as the platform of online loan wants to change a negative image like that. Since it was operational in December 2016, the Julo Application has always provided the best quality services for its customers.

Based on applications on mobile phones, Julo was also present to make it easier for people to borrow funds. No need to meet face to face, or go to the location of the company borrowing or the process is complicated. Indirectly the Julo Online loan application has also helped one of the customers in their education and medical expenses.

Julo itself offers two products, namely Julo Cicil and Julo Mini. In this mini Julo, it gives a funding limit of up to IDR 1 million for one-month-return period. Meanwhile, Julo installments give a maximum limit of IDR 8 million with a tenor of 3 to 6 months.

The interest offered by the Julo loan application is very low at 0.1% per day. With low interest, it is expected to ease the customer when paying loan funds.