The financial technology business (Fintech) has grown rapidly in Indonesia, both for payment and lending service. This is shown with the distribution of 41 Trillion Rupiah credit for more than 5 million debtor that involves 480,000 creditors as of May 2019. This was mentioned by Dr. Irwan Trinugroho, the faculty member of the FEB UNS, during a Workshop on Fintech Business, Wednesday, December 11, 2019. He mentions that Fintech business that provide information technology-based innovation should empower the underprivileged community and reduce their vulnerability.

Even though, the Fintech business has a rapid growth, there are many people who has not understand about Fintech operation yet. This becomes the role of a university to educate the community and explain further about Fintech business to prevent them from illegal Fintech business. Students can also propose a proposal on the Student Creativity Program (PKM) to establish an applicative product that would be useful for the community to avoid the illegal financial service.

“Students can use the Student Community Service Program (Kuliah Kerja Nyata-KKN) as a media to improve community’s literacy on Fintech business,” Dr. Irwan says.

Further, Irwan advised to the participants who mostly are students, to be careful when using a Fintech application. When downloading application, do not randomly press or choose “Allow” option, do not gives your contact number and giving permission to access storage. If users give permission on these two items, then, all contact in users’ phone will automatically recorded in the application owner’s server and will be used to ‘pressing’ the users when there is a delay in payment. This will defame the users.

The Fintech business that listed in the Financial Services Authority (OJK) is secure. The business owner of the application that want to get listed in OJK should provide a demonstration on their application and the application should not asking for accessing contact and storage. This was mentioned by Peter Febian, the Head of Corporate Communication of Ladang Modal, to the more than workshop 150 participants, while advise them to be selective in choosing online lending.

“Do not carelessly borrow money from Fintech, ensure the legality of a Fintech through OJK contact 157 or ojk.go.id,” Peter said. Fintech credit should not be used as a settlement for other debt, because this action will brought the borrowers to a bigger problem. Furthermore, the maximum amount of Fintech loans a borrower take should not bigger than 30% of their income.