With the rapid development of information technology in the current digital era, an
innovation that has successfully transformed a system or market has influenced human
behavior and expectations in this case consumers in accessing various ease of access to
information under the process of digitizing data into a commodity contested in
information and communication technology industry. Data security risks that users
sometimes pass on the terms and conditions section have an unexpected impact on
financial technology consumers (financial technology or fintech) offering financial
services that are easy and do not require a lengthy administrative process as happens in
physical banks. The speed of vertification and ease of access via smart phones are one of
the reasons for the development of unsecured credit players (KTA) in urban communities.
The rapid development of fintech needs to be regulated by law for the development of the
industry itself as well as to protect the public as users. The government through BI and
OJK as the body that is authorized to regulate fintech in accordance with its category,
has issued technical regulations in regulations related to fintech including POJK No. 77 /
POJK.01 / 2016 concerning Financial Technology-Based Lending and Borrowing
Services (POJK Fintech), PBI No. 19/12 / PBI / 2017 Regarding the Implementation of
Financial Technology (hereinafter referred to as PBI Fintech), PBI No.18 / 40 / PBI /
2016 Regarding the Implementation of Payment Transaction Processing, PBI No. 11/12 /
PBI / 2009 concerning Electronic Money that has been amended in PBI No. 16/8 / PBI /
2014 with the existing regulations and after looking at the list of Fintech applications
that have been registered and not yet registered to look for comparisons between Fintech
registered with OJK. In this study the authors conducted a comparative analysis of work
steps with POJK, with Fintech application samples including: Quick Wallet, Friend's
Money, Kredivo, Danamas, Tunasaku. From the results of the comparison of the online
loan application process with the implementation of OJK regulations on android-based
applications using 5 applications, namely Flash Wallet, Kredivo, Danamas, Tunasaku,
Friend's money. It was found that 60% is in accordance with POJK and 40% is not in
accordance with POJK.