Procedures and Mechanisms for Submission of Financing Transaction Data and Reporting by Information Technology-Based Joint Financing Service Providers (LPBBTI)

To: Directors of Information Technology-Based Joint Financing Service Providers, At your offices

COPY CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 1/SEOJK.06/2024 CONCERNING PROCEDURES AND MECHANISMS FOR SUBMISSION OF FINANCING TRANSACTION DATA AND REPORTING BY INFORMATION TECHNOLOGY-BASED JOINT FINANCING SERVICE PROVIDERS

In relation to the mandate of Article 44 paragraph (2) and Article 66 paragraph (11) of Financial Services Authority Regulation Number 10/POJK.05/2022 concerning Information Technology-Based Joint Financing Services (State Gazette of the Republic of Indonesia Year 2022 Number 2/OJK, Supplement to the State Gazette of the Republic of Indonesia Number 2/OJK), it is necessary to regulate provisions regarding the procedures and mechanisms for the submission of financing transaction data and reporting by Information Technology-Based Joint Financing Service Providers in a Circular Letter of the Financial Services Authority as follows:

I. GENERAL PROVISIONS In this Circular Letter of the Financial Services Authority, the following terms are meant:

1. Information Technology-Based Joint Financing Services, hereinafter abbreviated as LPBBTI, are the provision of financial services to match fund providers with fund recipients to conduct conventional financing or based on Sharia principles directly through an electronic system using the internet.
2. LPBBTI Providers, hereinafter referred to as Providers, are Indonesian legal entities that provide, manage, and operate LPBBTI either conventionally or based on Sharia principles.
3. Financing is the disbursement of funds from fund providers to fund recipients with a promise to be paid or returned according to a certain term in LPBBTI transactions.
4. Electronic System is a series of electronic devices and procedures that function to prepare, collect, process, analyze, store, display, announce, send, and/or disseminate electronic information in the field of financial services.
5. Electronic Document is any electronic information created, forwarded, sent, received, or stored in analog, digital, electromagnetic, optical, or similar forms, which can be seen, displayed, and/or heard through a computer or Electronic System, including but not limited to text, sound, images, maps, designs, photos or similar, letters, signs, numbers, access codes, symbols, or perforations that have meaning or meaning or can be understood by people who are able to understand them as referred to in laws and regulations governing electronic information and transactions.
6. Board of Directors is the LPBBTI organ that has the authority and is fully responsible for the management of LPBBTI for the interests of LPBBTI, in accordance with the purpose and objectives of LPBBTI and represents LPBBTI, both inside and outside the court in accordance with the provisions of the Articles of Association.

II. FORM, STRUCTURE, TIME, AND MECHANISM OF SUBMISSION OF FINANCING TRANSACTION DATA REPORTS

1. Providers are required to submit financing transaction data correctly and completely to the fintech lending data center of the Financial Services Authority.
2. The financing transaction data as referred to in item 1 is the development of financing transaction data between fund providers and fund recipients.
3. The form and structure of the financing transaction data as referred to in item 1 must contain at least: a. information about users; b. financing transaction information; and c. financing quality information.
4. The form and structure of the submission of financing transaction data to the fintech lending data center is carried out using the guidelines in Appendix I which is an inseparable part of this Circular Letter of the Financial Services Authority.
5. The submission of financing transaction data as referred to in item 1 is carried out in real-time.
6. The submission of financing transaction data as referred to in item 1 is submitted by integrating the Provider's Electronic System into the fintech lending data center.
7. In the event that the fintech lending data center cannot receive financing transaction data in real-time as referred to in item 5, the Provider submits financing transaction data to the Financial Services Authority on a daily basis.
8. In the event that the fintech lending data center as referred to in item 6 experiences technical disturbances or force majeure, the Financial Services Authority conveys notification of the time limit for the submission of financing transaction data to the Provider via letter and/or announcement through the fintech lending data center.
9. Force majeure as referred to in item 8 includes, among others, fire, mass riots, war, armed conflict, sabotage, and natural disasters such as earthquakes and floods.
10. The Provider is deemed to have submitted the financing transaction data report if proven by a receipt that the submission of financing transactions has been successful along with the amount of data that has been reported.

III. FORM, STRUCTURE, TIME, AND MECHANISM OF SUBMISSION OF PERIODIC REPORTS AND PUBLICATION OF ANNUAL FINANCIAL REPORTS

1. Providers are required to submit periodic reports to the Financial Services Authority.
2. Providers are required to compile periodic reports as referred to in item 1 correctly and completely.
3. Periodic reports as referred to in item 1 consist of: a. monthly reports; and b. annual financial reports that have been audited by a public accountant registered with the Financial Services Authority.
4. The form and structure of monthly reports as referred to in item 3 letter a consists of, among others: a. financial position report; b. profit/loss report; c. equity change report; d. cash flow report; e. inclusivity; f. transaction value; g. financing quality, cost of capital, effective economic benefit, velocity/term, productive sector, information related to other financing disbursement cooperation; h. Provider outstanding; i. outstanding financing quality; and j. activity report.
5. The form and structure of annual financial reports as referred to in item 3 letter b consists of: a. financial position report; b. profit/loss report; c. equity change report; d. cash flow report; and e. notes to the financial statements.
6. In compiling periodic reports as referred to in item 3, Providers refer to the accounting guidelines as contained in Appendix II which is an inseparable part of this Circular Letter of the Financial Services Authority.
7. The procedures and mechanisms for the submission of periodic reports are carried out using the guidelines in Appendix III which is an inseparable part of this Circular Letter of the Financial Services Authority.
8. The submission of monthly reports as referred to in item 3 letter a is submitted no later than 10 (ten) working days after the reporting period ends.
9. The submission of annual financial reports that have been audited by a public accountant registered with the Financial Services Authority is submitted no later than April 30 of the following year.
10. If the deadline for the submission of monthly reports and annual financial reports as referred to in item 3 letter a and letter b falls on a holiday, the deadline for report submission is on the next working day.
11. The submission of monthly reports and annual financial reports as referred to in item 3 letter a and letter b is carried out online through the Financial Services Authority's data communication network system.
12. In the event that the Financial Services Authority's data communication network system as referred to in item 10 is not yet available, experiences technical disturbances, or force majeure, the Provider submits monthly reports and annual financial reports in the form of electronic documents online in the form of electronic documents via email designated by the Financial Services Authority.
13. In the event of technical disturbances or force majeure as referred to in item 12, the Financial Services Authority announces on the Financial Services Authority website or via email to the Provider.
14. Force majeure as referred to in item 12 and item 13 includes, among others, fire, mass riots, war, armed conflict, sabotage, and natural disasters such as earthquakes and floods.
15. The submission of electronic documents as referred to in item 12 is submitted via the address mailingroommrp@ojk.go.id and addressed to: Head of Data and Statistics Management Department Radius Prawiro Tower Building, 14th Floor Bank Indonesia Office Complex MH. Thamrin Street Number 2, Jakarta, 10110, with a copy to: Director of Technology-Based Financing Business Supervision Wisma Mulia 2 Building Jenderal Gatot Subroto Street Kav. 42 Jakarta 12710.
16. In the event that the Financial Services Authority's data communication network system or email experiences technical disturbances, the Provider submits monthly reports and annual financial reports in the form of electronic documents using electronic data storage media, which are sent to the Financial Services Authority via a letter signed by the Board of Directors and addressed to: Head of Data and Statistics Management Department Radius Prawiro Tower Building, 14th Floor Bank Indonesia Office Complex MH. Thamrin Street Number 2, Jakarta, 10110, with a copy to: Director of Technology-Based Financing Business Supervision Wisma Mulia 2 Building Jenderal Gatot Subroto Street Kav. 42 Jakarta 12710.
17. The submission of monthly reports and annual financial reports in the form of electronic documents offline as referred to in item 15 is carried out by: a. being handed directly to the Financial Services Authority office; or b. being sent through a courier service company.
18. In the event of a change in the address of the Financial Services Authority office for report submission as referred to in item 15 and item 16, the Financial Services Authority conveys notification regarding the address change via letter to the Provider or announcement through the Financial Services Authority website.
19. The Provider is deemed to have submitted monthly reports and/or annual financial reports with the following provisions: a. for online submission via:

1. the Financial Services Authority's data communication network system is proven by a receipt from the Financial Services Authority's data communication network system; or
2. email to the Financial Services Authority is proven by proof of email sending, in the event that submission via the data communication network cannot be done; or b. for offline submission, it is proven by a receipt from the Financial Services Authority's email.

20. Providers are required to publish to the public the financial position report and profit/loss report that have been audited by a public accountant along with the auditor's opinion on the said reports on the electronic system used by the Provider.
21. In addition to the publication of the financial position report and profit/loss report that have been audited by a public accountant along with the auditor's opinion as referred to in item 20, Providers may publish other reports in the audited annual financial report on the electronic system used by the Provider.
22. Publication as referred to in item 20 must be carried out no later than 1 (one) month after the end of the annual financial report submission period.
23. Providers publish the annual financial report as referred to in item 20 on the front page of the Provider's electronic system which is easily visible and accessible to the public.
24. The annual financial report as referred to in item 20 and its amendments are published as long as the Provider carries out LPBBTI business activities.

IV. FORM, STRUCTURE, TIME, AND MECHANISM OF SUBMISSION OF INCIDENT REPORTS

1. Providers are required to submit incident reports to the Financial Services Authority.
2. Providers are required to compile incident reports as referred to in item 1 correctly and completely.
3. Incident reports as referred to in item 1 consist of: a. fraud reports, including embezzlement of company assets by the Board of Directors, Board of Commissioners, Sharia Supervisory Board, or Provider employees; b. internal audit implementation reports; c. education implementation reports; d. legal dispute reports; and e. operational disturbance reports, including fire and demonstrations.
4. The form and structure of incident reports as referred to in item 3 must contain at least: a. a brief description of the incident; b. resolution steps taken by the Provider; and c. an action plan for future improvements.
5. Incident reports are submitted no later than 10 (ten) working days since the occurrence of the said incident.
6. Under certain conditions, the Financial Services Authority may request other reports besides incident reports as referred to in item 3.
7. The form and structure of other reports besides incident reports as referred to in item 6 are determined in the request letter from the Financial Services Authority.
8. Submission of other reports besides incident reports is submitted to the Financial Services Authority in accordance with the time limit determined in the request letter.
9. If the deadline for the submission of incident reports as referred to in item 5 falls on a holiday, the deadline for report submission is on the next working day.
10. Incident reports and other reports besides incident reports are submitted in the form of electronic documents.
11. The submission of electronic documents as referred to in item 10 is submitted via the address mailingroommrp@ojk.go.id and addressed to: Head of Data and Statistics Management Department Radius Prawiro Tower Building, 14th Floor Bank Indonesia Office Complex MH. Thamrin Street Number 2, Jakarta, 10110, with a copy to: Director of Technology-Based Financing Business Supervision Wisma Mulia 2 Building Jenderal Gatot Subroto Street Kav. 42 Jakarta 12710.
12. In the event of a change in the address of the Financial Services Authority office for report submission as referred to in item 11, the Financial Services Authority conveys notification regarding the address change via letter to the Provider or announcement through the Financial Services Authority website.
13. The Provider is deemed to have submitted incident reports and/or other reports besides incident reports proven by a receipt from the Financial Services Authority's email.

V. RESPONSIBLE BOARD OF DIRECTORS MEMBERS AND REPORT COMPILATION OFFICERS

1. Providers appoint Board of Directors members at the Provider who are responsible for the compilation and presentation of the Provider's reports.
2. Board of Directors members as referred to in item 1 appoint compilation officers to compile, verify, and submit the Provider's reports.

VI. USER CODES AND PASSWORDS OF BOARD OF DIRECTORS MEMBERS AND REPORT COMPILATION OFFICERS FOR SUBMISSION OF FINANCING TRANSACTION DATA AND PERIODIC REPORTS THROUGH THE FINANCIAL SERVICES AUTHORITY DATA COMMUNICATION NETWORK SYSTEM

1. In submitting financing transaction data and periodic reports, Board of Directors members and compilation officers as referred to in Roman V must have user codes (user ID) and passwords (password).
2. To obtain user codes (user ID) and passwords (password) in order to submit financing transaction data as referred to in item 1, Board of Directors members must submit a registration application for fintech lending data center access rights via email designated by the Financial Services Authority in accordance with format 1 as contained in Appendix IV which is an inseparable part of this Circular Letter of the Financial Services Authority.
3. To obtain user codes (user ID) and passwords (password) in order to submit periodic reports as referred to in item 1, Board of Directors members must submit a registration application for the Financial Services Authority data communication network system access rights via email designated by the Financial Services Authority in accordance with format 2 as contained in Appendix IV which is an inseparable part of this Circular Letter of the Financial Services Authority.
4. In the event of changes in responsible Board of Directors members and/or compilation officers for financing transaction data and/or periodic reports, the Provider submits a report on changes in responsible Board of Directors members and/or compilation officers for financing transaction data and/or periodic reports in accordance with format 3 as contained in Appendix IV which is an inseparable part of this Circular Letter of the Financial Services Authority.

VII. PROCEDURES FOR CORRECTION OF FINANCING TRANSACTION DATA, PERIODIC REPORTS, AND INCIDENT REPORTS

1. In the event of errors in submitted financing transaction data, periodic reports, and/or incident reports, the Provider corrects the financing transaction data and/or reports within the time limit given by the Financial Services Authority.
2. Correction of financing transaction data, periodic reports, and/or incident reports is submitted online through the Financial Services Authority's data communication network system in accordance with the procedures for submission of financing transaction data as referred to in Roman II item 4 and periodic reports as referred to in Roman III item 6 and item 7.
3. Correction of incident reports is submitted in the form of electronic documents as referred to in Roman IV item 10.

VIII. TRANSITIONAL PROVISIONS

1. The obligation of Providers to submit financing transaction data in accordance with the form, structure, and submission procedures regulated in this Circular Letter of the Financial Services Authority starts from July 1, 2024.
2. Providers must conduct trial submissions of financing transaction data reports in accordance with the form, structure, and submission procedures regulated in this Circular Letter of the Financial Services Authority from February 1, 2024 to June 30, 2024.
3. The obligation of Providers to submit monthly reports in accordance with the form, structure, and submission procedures regulated in this Circular Letter of the Financial Services Authority starts for the July 2024 reporting period which is submitted in accordance with the submission time as regulated in Roman III item 8.
4. Providers must conduct trial submissions of monthly reports in accordance with the form, structure, and submission procedures regulated in this Circular Letter of the Financial Services Authority for the reporting period from February 2024 to the June 2024 reporting period.

This copy is in accordance with the original Director of Law 1 Legal Department Mufli Asmawidjaja

IX. CLOSING The provisions in this Circular Letter of the Financial Services Authority take effect on July 1, 2024. Determined in Jakarta on January 31, 2024 EXECUTIVE HEAD OF SUPERVISOR OF PAYMENT INSTITUTIONS, VENTURE CAPITAL COMPANIES, MICRO FINANCE INSTITUTIONS, AND OTHER FINANCIAL SERVICE INSTITUTIONS FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA, AGUSMAN signed signed

APPENDIX I CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 1/SEOJK.06/2024 CONCERNING PROCEDURES AND MECHANISMS FOR SUBMISSION OF FINANCING TRANSACTION DATA AND REPORTING BY INFORMATION TECHNOLOGY-BASED JOINT FINANCING SERVICE PROVIDERS

TABLE OF CONTENTS TABLE OF CONTENTS ......................................................................................- 1 - CHAPTER I GENERAL ..................................................................................- 2 - CHAPTER II USER REPORTS ...........................................................- 3 - CHAPTER III PRODUCT REPORTS ............................................................. - 16 - CHAPTER IV FINANCING REPORTS ....................................................... - 21 - CHAPTER V FINANCING PAYMENT REPORTS ................................ - 31 - CHAPTER VI FINANCING STATUS REPORTS .......................................... - 41 - CHAPTER VII FINANCING RESTRUCTURING REPORTS ....................... - 47 -

CHAPTER I GENERAL Information Technology-Based Joint Financing Service Providers (LPBBTI) periodically report LPBBTI transactions consisting of 6 (six) Reports as follows:

1. User Report This report contains information regarding Users consisting of Fund Providers (Lender) and Fund Recipients (Borrower) of LPBBTI. The details of the User report include information regarding User identity, affiliation with the Provider, other information related to Users, registration time, and last data change per individual/institution that can act as Lender, Borrower, or both at one LPBBTI Provider.
2. Product Report This report contains information regarding products offered by LPBBTI Providers. The details of the product report include information regarding financing products, cooperation agreements (if any) containing information related to cooperation, agreement period, and active product period in the LPBBTI Provider's system.
3. Financing Report This is a report of financing transaction information between Lender and Borrower up to disbursement to the Borrower's account.
4. Financing Payment Report This report consists of Borrower payment transactions for financing received in accordance with the financing portion and economic benefits agreed upon in the financing agreement.
5. Financing Quality Status Report This report is submitted by the Provider when financing is first disbursed and when the installment payment due date is missed or for other reasons that result in a change in financing quality.
6. Financing Restructuring Report Financing restructuring reports are only reported when there is a restructuring agreement consisting of an agreement between Lender and Borrower for financing restructuring transactions. This report contains information on the main financing code (before restructuring) and the new financing code recorded in this report, as well as the agreed period, tenor, outstanding amount, and number of restructuring installments.

CHAPTER II USER REPORTS

1. Kode_Penyelenggara (Provider Code) a. This code is filled with the Kode_Penyelenggara given by OJK for the Provider as the Reporter. b. This column is mandatory (cannot be left blank). c. Example of data entry: No Provider Code Entry 1 Report submitted by Conventional Provider 810001 2 Report submitted by Sharia Provider 810028
2. Kode_Pengguna_Sistem (System User Code) a. This column is filled with the Kode_Pengguna_Sistem that can act as a Borrower or Lender. b. If the Provider separates coding for the same User according to activity (Borrower/Lender), the Provider can choose one code and add information in the description column related to it and include the User coding in the other role. c. This column is mandatory (cannot be left blank). d. Example of data entry: No System User Code Entry 1 PT XYZ is recorded as a Borrower on Fintech ABC PA0001 2 PT XYZ is recorded as a Lender on Fintech ABC PB0001 3 PT XYZ is recorded as a Borrower and Lender on Fintech ABC, then can be recorded as both. PC0001
3. Jenis_Pengguna (User Type) a. This column is filled with the User type according to the reference as follows: Code User Type 1 Individual 2 Institution

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