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Halu Oleo Law Review

Articles

Vol. 9 No. 2 (2025): Halu Oleo Law Review: Volume 9 Issue 2

Comparative Legal Analysis of Credit Provision by Conventional Banks and Financial Technology Services from the Perspective of Banking Law.: Comparative Legal Analysis of Credit Provision by Conventional Banks and Financial Technology Services from the Perspective of Banking Law.

Submitted
April 8, 2025
Published
2025-09-26

Abstract

Credit provision is a crucial pillar in supporting economic growth and financial inclusion, whether through conventional banks or financial technology (fintech) services. Conventional banks provide credit based on prudential principles and strict regulations, while fintech offers faster and more flexible alternatives using digital technologies such as big data and artificial intelligence. These different approaches pose challenges in supervision and consumer protection. In Indonesia, both institutions are regulated by the Financial Services Authority (OJK) under different legal frameworks but share similar goals: maintaining financial system stability and protecting consumer rights. Both banks and fintech apply principles of transparency, prudence, and comply with the Personal Data Protection Law. Although regulations provide general guidance, practical implementation shows that fintech faces greater challenges in regulatory compliance and consumer protection. Therefore, adaptive and responsive regulation is needed to accommodate the dynamics of financial technology development.

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