To Strengthen Public Trust in Invoice Financing Investment with the Peer-to-Peer Lending Scheme
Jakarta, October 3, 2017 — Perum Jamkrindo (the Indonesian Credit Guarantee Corporation) and the pioneer of peer-to-peer lending in the country, Investree (PT Investree Radhika Jaya), today officially signed a Cooperation Agreement on Guaranteeing Invoice Financing with a Peer-to-Peer Lending Scheme. This strategic collaboration aims to mitigate the risk of default as well as to realize the benefits of technology in the financial industry for lenders in order to empower Micro, Small, and Medium Enterprises (UMKM) in Indonesia.
The signing event was held at the Jamkrindo Kemayoran Building and was attended by the Board of Directors of Perum Jamkrindo and Investree Executives, including Acting President Director of Jamkrindo I. Rusdonobanu, Director of Operations and Network R. Sophia Alizsa, Director of Guarantee Business Amin Mas’udi, Director of HR, General Affairs, and Compliance Sulis Usdoko, Co-Founder & CEO Investree Adrian Gunadi, Chief Risk Officer Investree Amalia Safitri, and Chief Operating Officer Investree Ade Fauzan. It was witnessed by Alvin Tahulu (Head of Licensing & FinTech Supervision at the Institutional and Product Directorate of IKNB OJK).
The form of cooperation between these two institutions is a guarantee on invoice financing transactions for projects or procurement of goods and/or services within the territory of the Republic of Indonesia with a maximum amount of Rp2 billion and a term of up to 12 months. Perum Jamkrindo itself is the leading credit guarantee company in Indonesia, a State-Owned Enterprise (BUMN). It has a close connection with Investree because this company focuses its credit guarantee business on UMKM and Cooperatives. In practice, Jamkrindo carries out its activities based on the vision and mission to support the development of the national economy.
I. Rusdonobanu, as Acting President Director of Perum Jamkrindo, expressed his positive view, “The signing of the cooperation agreement between Jamkrindo and Investree is one form of support for the development of financial technology, especially peer-to-peer lending in Indonesia. We realize that financial technology is a digital innovation that has a major impact on the growth of the UMKM sector as well as being able to provide financial impetus for the unbankable community to become bankable in this modern era, so we are very enthusiastic to participate in this matter.”
In addition to continuously developing guarantee products on credit disbursed through financial technology, Perum Jamkrindo is the only National Guarantee Company appointed to guarantee KUR, which is intended to develop UMKM and Cooperatives, as well as to serve as the Warehouse Receipt Guarantee Institution.
On the other hand, Co-Founder & CEO of Investree, Adrian Gunadi, said, “We are pleased and welcome the cooperation with a leading guarantee company, namely Perum Jamkrindo. It is hoped that this collaboration can increase the trust and loyalty of the public towards financial technology services and peer-to-peer lending so that Investree can freely develop innovations to provide the best products and services in order to realize genuine financial inclusion in Indonesia.”
“Building public trust requires strategic commitment. In addition to implementing transparency and maintaining consistent products and services, in achieving this, we also need to establish a guarantee system. The goal is so that the public feels safe and comfortable when making investments and transactions at Investree,” continued Adrian.
Until now, Investree’s default rate remains at 0% with a total loan disbursement of Rp258 billion. “In relation to that, we are committed to continually maintaining this achievement so that Investree’s credit risk exposure remains within a good parameter. We also hope that if this commitment is continuously maintained, more people will be educated about financial technology and peer-to-peer lending, and then invest actively on our platform so that the individuals and UMKM that are assisted become more prosperous. We are also optimistic that the cooperation with Jamkrindo will not be limited to this product only, but will develop along with the growth of trends and business models, one of which is the provision of a host-to-host system so that the process becomes shorter and easier yet remains safe,” concluded Adrian confidently.