Over the past ten years, money lending has gone through many changes. These days, people no longer rely on family or friend connections and banks for loans, thanks to the emergence of many (peer-to-peer) financial technology lending. These platforms offer more effective service, requiring only a few documents and faster loan disbursement—all from the convenience of a smartphone app.

However, the public needs to be more aware of the potential risk by irresponsible counterparts such as illegal online platforms, which may include personal data theft and other kinds of unethical practices.

According to the Indonesian Consumers Protection Foundation (YLKI), 70 percent of personal data abuse complaints in 2020 come from illegal online platform. These illegal services steal data by embedding spyware-like features in installed apps. 

Moreover, they work by asking permission to access text messages, instant messaging services, phone storages, photos, list of contacts and other sensitive access permissions. These unlicensed online lenders could identify who applies for a loan and gain collateral for collection by accessing smartphone apps.

In contrast, the Financial Service Authority (OJK) only allows legal, AFPI-registered P2P fintech lending to ask permission for the camera, microphone, and location for electronic Know Your Customer (eKYC) verification.

There are several steps that the public can take to keep their personal data safe:

  1. Never install apps from online platform not registered at OJK to avoid spyware.
  2. Customers must read and consider the terms and conditions listed on the app carefully.
  3. The public should be active in reporting illegal online lending apps to authorities or companies that publish them, for immediate removal.

AdaKami as a P2P fintech lending that offers collateral-free loans and is registered and supervised by OJK, is committed to ensuring the data security of its customers, as it is a requirement to run their business. 

Based on the recommendation by OJK, AdaKami has gained ISO 27001 certification, an international standard requirement that ensures the implementation of Information Security Management System (ISMS). By having ISO 27001, it is safe to say that AdaKami users’ data is secure and well-protected based on a global standard of data security.

AdaKami is equipped with the Incop (Intelligent Connection Profiling System) technology that can analyze and protect data using Artificial Intelligence, focusing on three primary phases of lending: before, during, and after the loan period.

AdaKami’s Incop system is a preventive method against the frauds of today and proof of their commitment to data security. It utilizes a complex algorithm to protect customers’ data while assessing the customer’s credit history. 

Moreover, this method ensures the prospective customer uses a genuine, non-stolen, and non-fake identity and finds out their credit record. The Incop system could quickly identify suspicious records and inform the company of potential fraud.