Smart Regulatory Fintech dalam Ekosistem Pendanaan Digital Terhadap Pertumbuhan UMKM

Abstract

Like a double-edged sword, P2P lending fintech is not exempt from its own shortcomings, ranging from high interest rates, fraud, alleged misuse of personal data, predatory lending, and a lack of financial literacy among prospective customers. Considering this urgency, this research employs a normative legal research methodology, utilizing legislative, conceptual, and comparative approaches. Furthermore, secondary data collected through library research serves as the primary reference. The entirety of the data is analyzed using qualitative analysis techniques. This study also examines the perspective of POJK No. 10/POJK.05/2022 and compares it with the concept of smart regulation introduced by Neil Gunningham and Darren Sinclair. The findings of this research illustrate how the smart regulatory concept impacts the innovation of P2P lending fintech in boosting the performance of SMEs as a critical driver of the Indonesian economy. The use of the smart regulatory approach represents a responsive strategy to the innovation of P2P lending fintech as a digital financing solution for SMEs. This is because P2P lending fintech has assumed a position and opened easy access to financing, particularly for SMEs