Indonesian P2P Lender Ringan Deploys OneConnect’s Digital Lending Solutionsby Fintech News Indonesia August 24, 2021
Peer-to-peer lending app Ringan, deploys a suite of digital lending solutions built by OneConnect Financial Technology, an associate of Ping An Group, to provide Indonesians a seamless and secure loan application experience.
The digital solutions automate and simplify Ringan’s loan process from loan origination, loan management and application, to debt collection, risk assessment, analytics, and reporting.
Ringan said in a statement that the “simple application process will greatly benefit Indonesians as electronic know-your-customer (eKYC) technology can verify identity remotely and auto-populate forms to enable hassle-free loan applications”.
Indonesians can apply for unsecured loans of up to IDR 20,000,000 with a paperless and electronically-driven workflow for quicker disbursement.
The Ringan application utilises OneConnect’s artificial-intelligence fraud-prevention technology to conduct electronic know-your-customer exercise.
Ringan reports that it has served more than 200,000 registered users and disbursed more than IDR 10 billion worth of loans to date.
Over 100,000 applicants had successfully scanned their KTP identity cards and completed the loan application on Ringan app.
Yudhono Rawis, CEO and President Director at Ringan said,
“OneConnect is the perfect partner for financial institutions looking for cutting-edge technology to make loan applications easier, while protecting our company against fraud and potential losses.
At the same time, we are able to provide a great experience and seamless process for our customers.”
Yao Jing, CEO and President Director at PT OneConnect Financial Technology Indonesia said,
“With a seamless customer journey, Ringan can now scale and serve more Indonesians in a truly efficient manner.
We believe that our collaboration will drive deeper digitalisation of the traditional banking processes and bring about a greater financial inclusion for Indonesians.”