Indonesian peer-to-peer lending app Ringan Deploys Suite of Digital Lending Solutions Built by Leading Technology as a Service OneConnect Platform supplier and partner of the Ping An group, to offer Indonesians a transparent and secure loan application experience.
Digital solutions automate and simplify Ringan’s lending process, from loan origination, management and application, to debt collection, risk assessment, analysis and reporting. The straightforward application process will greatly benefit Indonesians where – eKYC technology verifies identity remotely and automatically fills out forms to enable hassle-free loan applications. Indonesians can apply for unsecured loans up to IDR 20,000,000 with just a few clicks on their mobile phones and enjoy faster disbursement through the paperless and electronically driven workflow.
The Ringan app uses OneConnect’s artificial intelligence-based fraud prevention technology to perform an electronic know-your-customer exercise. The technology is deployed in local data centers to ensure a seamless experience and the highest security standards.
The use of these technologies has enabled Ringan to optimize productivity, scale rapidly, and mitigate fraud and potential risks. Ringan has served over 200,000 registered users and disbursed over IDR 10 billion in loans. In the past, a process that would have cost Ringan 8,000 man-hours has now been optimized. Over 100,000 applicants successfully scanned their KTP ID cards and completed the seamless loan application on the Ringan app. The electronic application process also reduces human errors, minimizes identity fraud and increases staff productivity.
Mr. Yudhono Rawis, CEO and CEO of Ringan, said, “OneConnect is the ideal partner for financial institutions looking for cutting edge technology to facilitate loan applications, while protecting our business against fraud and potential losses. At the same time, we are able to provide excellent experience and transparent process to our customers. “
Mr. Yao Jing, CEO and CEO of PT OneConnect Financial Technology Indonesia, said, “We are delighted to witness the possibilities offered by technology to democratize lending in Indonesia and across Asia. With a smooth customer journey, Ringan can now grow and serve more Indonesians in a truly efficient way. We believe that our collaboration will result in further digitization of traditional banking processes and lead to greater financial inclusion for Indonesians. “
In Indonesia, OneConnect has also partnered with conglomerate Sinarmas to set up a retail lending system in Indonesia. Across Asia, OneConnect enables major banks to digitize banking and lending.