JULO Secures Financial License, Joining Exclusive List

Amid the ongoing trend of illegal fintech companies suspended during the COVID-19 pandemic, a local lending peer-to-peer (P2P) financial technology company, PT JULO Teknologi Finansial (JULO) has officially been granted a business license by the Financial Services Authority (OJK). Previously, JULO, established in 2016, operated as a registered and supervised financial technology company by OJK.

By April 2020, only 25 P2P lending fintech companies had been granted a business license by OJK (out of 161 registered companies), while the growth in loans distributed by fintech companies surged by 208.83% year-on-year reaching Rp100 trillion in the first quarter of 2020. It is essential that the progress of Indonesian fintech industry supported with the growth of licensed fintech players to fairly serve underbank customers, eventually drives Indonesia’ economy.

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With the status upgrade to a company with the official permit, JULO will continue to serve and create innovation for the underbanked. CEO & Co-Founder Adrianus Hitijahubessy says that the licensing achievement is an endorsement of the whole team’s work and JULO’s mission in supporting financial inclusion across Indonesia.

JULO’s application has been downloaded by more than 1 million users and has received the international standard certification for information security management systems (ISO 9001). JULO is committed to helping underbanked people with limited access to financial services by providing responsibly-priced loans more customer-friendly than other online lending companies, with an ethical debt collection process based on regulations and ethics.

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JULO is grateful for OJK’s trust in providing a permanent operational permit. As a licensed fintech company, JULO will continue to provide the best for its customers while supporting the government to drive financial inclusion. “We still have a long way to go. Hopefully, with the new trust, JULO can provide better services to customers, have rapid growth, and create innovation,” said Adrianus.