back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

OneConnect powers P2P lending app Ringan’s loan application process

By Leandra Monteiro

August 27, 2021

Share

OneConnectIndonesian peer-to-peer lending app, Ringan, deploys a suite of digital lending solutions built by OneConnect, a leading technology-as-a-service platform provider and an associate of Ping An Group, to provide Indonesians a seamless and secure loan application experience.

The digital solutions automate and simplify Ringan’s loan process from loan origination, loan management and application, to debt collection, risk assessment, analytics, and reporting. The simple application process will greatly benefit Indonesians where – eKYC technology verify identity remotely and auto-populate forms to enable hassle-free loan applications. Indonesians can apply for unsecured loans of up to IDR 20,000,000 with just a few clicks on their mobile phones and enjoy quicker disbursement with the paperless and electronically-driven workflow.

Ringan app utilises OneConnect’s artificial-intelligence fraud-prevention technology to conduct electronic know-your-customer exercise. The technology is deployed in local data centers to ensure seamless experience and highest security standard.

Using these technologies has enabled Ringan to optimise productivity, scale quickly and mitigate potential fraud and risks. Ringan has served more than 200,000 registered users and disbursed more than IDR 10 billion worth of loans. In the past, a process which would have cost Ringan 8,000 man hours, is now optimised. Over 100,000 applicants had successfully scanned their KTP ID cards and completed the seamless loan application on Ringan app. The electronic application process also reduces human error, minimises identity fraud and increases staff productivity.

Mr Yudhono Rawis, CEO and President Director, Ringan said, “OneConnect is the perfect partner for financial institutions looking for cutting-edge technology to make loan applications easier, while protecting our company against fraud and potential losses. At the same time, we are able to provide a great experience and seamless process for our customers.”

Mr Yao Jing, CEO and President Director, PT OneConnect Financial Technology Indonesia said, “We are delighted to witness the possibilities of technologies democratising lending in Indonesia and across Asia. With a seamless customer journey, Ringan can now scale and serve more Indonesians in a truly efficient manner. We believe that our collaboration will drive deeper digitalisation of the traditional banking processes and bring about a greater financial inclusion for Indonesians.”

In Indonesia, OneConnect also partnered with conglomerate Sinarmas to build a retail lending system in Indonesia. Across Asia, OneConnect is empowering major banks to digitalise banking and lending.

Previous Article

August 27, 2021

HUBUC partnered with Transact Payments to enhance embedded finance

Read More
Next Article

August 27, 2021

Jeff Winner named as Interim CEO for Happy Money

Read More










IBSi Daily News Analysis

The Weekly Wrap

August 19, 2022

The Weekly Wrap: all you need to know by Friday COB | August 19th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

August 19, 2022

6 FinTech Tweets you should see!

Read More

August 19, 2022

Staircase launches Credit Waterfall for mortgage lenders

Read More

August 19, 2022

PalmPay launches Wallet Safe Workshop to spread payment security awareness

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022