Online lending is still the one with the most complaints from consumers
In the licensed or legal financial services industry, online lending in various forms, or financial technology (fintech) lending, has received the most consumer complaints.
According to the written statement from the Financial Services Authority (OJK) last week, this year as of August 31, 2024, OJK has received 262,837 service requests through the OJK Consumer Protection Portal Application (APPK).
Of this total, 20,690 service requests were complaints. 7,763 of the complaints were regarding the financial technology (fintech) industry, and 7,280 were about banking.
The remaining 4,464 complaints were about financing companies, 894 about insurance, followed by the capital market and other non-bank financial industries (IKNB).
"504 complaints indicated violations, and 1,691 complaints were disputes," stated the OJK statement.
OJK claimed that 86.90% of these complaints were resolved through internal dispute resolution at the complained financial institutions, and 13.10% are still in the process of being resolved.
