Online lending oversight must protect consumer interests

Stakeholders are calling for enhanced oversight of the online lending industry to better protect consumers and lenders. Recent issues involving platforms such as Akseleran and Julo have highlighted the need for more effective regulatory responses.

Algooth Putranto, Director of the Evident Institute, stated that successful supervision should not be measured solely by the imposition of sanctions. Instead, the priority should be the speed of early detection and the implementation of protections for lenders. The situation involving Akseleran, in particular, underscores the importance of strengthening early warning systems to identify financial or governance issues before they impact lenders.