Financial Services Complaints Surge as Fintech Lending Issues Dominate

Significant Increase in Dispute Complaints

The Financial Services Authority (OJK) has reported a substantial number of financial services dispute complaints received by the Alternative Dispute Resolution Agency for Financial Services Sector (LAPS SJK). Between January 1, 2025, and November 30, 2025, LAPS SJK recorded 3,110 complaints, indicating growing consumer concerns in the financial services sector.

Sector-wise Breakdown of Complaints

The data revealed that the majority of complaints (46.1%, totaling 1,443) came from the Financial Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions (PVML) sector. Within this category, fintech peer-to-peer lending (P2P lending) emerged as the primary source of disputes, accounting for 972 complaints out of 1,443 from the PVML sector. This highlights the significant challenges faced by consumers in digital lending platforms.

Regulatory Response and Consumer Protection

Friderica Widyasari Dewi, OJK's Executive Head of Supervision, Behavior, Education, and Consumer Protection, emphasized the dominance of fintech lending disputes during a press conference at the OJK Financial Services Sector Dispute Resolution (RDK) meeting. The high number of complaints underscores the need for enhanced regulatory oversight and consumer education in the rapidly evolving fintech landscape.

Implications for Fintech Industry

The surge in complaints against fintech lending platforms signals potential operational and regulatory challenges within the sector. As the OJK continues to monitor and address these issues, industry players may need to reassess their practices to improve consumer trust and compliance with regulatory requirements.