fintech: financial technology is a financialservice innovation combined with a technology system. One of the most popularforms of financial services in the form of fintech is online application-basedloan services. however, in the last few weeks, there have been many reports ofthe negative impact of online loan application services.
is that right ? are the only negative impactsthat we get from this online loan application system?
actually, it’s not like that, let us examine itfrom a wise point of view, from the negative and positive sides as well.
The negative impact of online
loans are that we can install more than 10 onlineloan applications for free on the Playstore without special terms andconditions.
it is different from applying for credit at abank or a loan at a cooperative which requires special supporting documentswhich in my opinion are quite complicated not to mention mandatory collateralor guarantees.
it seems that this does not apply to users ofonline loan application services, because with only one supporting document(KTP) we can withdraw loan funds.
but it turns out that this has some unfavorableimpacts on the community for its users.
first: with easy online loan systems withoutcollateral people who are accustomed to debt will flock to try to switch fromconventional to online loans, the negative for customers from existingconventional financial service companieswill be reduced.
second: because of the ease with which it makespeople who have never previously owed debt become indebted, either because it’sjust for fun or a need that can actually be resolved without the need to be indebt.
third: creating a culture of debt in thecommunity. This condition of debt will easily become a habit for the communityso that what was originally considered a taboo debt becomes a normal thing.
fourth: high debt interest, why do onlineloan-based financial services apply high-interest rates to their customers, inmy opinion, personally as a way to minimize the losses of these online loancompanies. this is because it is too risky for a loan agreement withoutcollateral (collateral) which has a big chance of creating a crime gap comparedto loans that use collateral.
Fifth: unpleasant experience with debtcollectors, who the hell wants to be a fugitive for debts to be chased everytime.
Of course, no one wants some of the cases thathave occurred that stick out in the public on how the debt collector as thecollector of online loan companies treats their customers.
although it has not been proven until the act ofviolence, the collection of threats in the form of threats clearly violates thelaw and certainly makes the customer uncomfortable.
sixth: the system is like the experience of oneof the online loan application customers, they admit to doing that to coverdebts from one application by owing to another loan application.
He is even open about how many applications hehas registered, unmitigated there are 10 applications.
therefore for those of you who feel unable to theterms and conditions of an online loan service company, don’t even try, becauseindeed the interest that is applied is high and can be said to be chokingespecially if the repayment deadline is passed.
moving on from discussing the negative effects ofonline loans, let’s discuss: The positive impact of online loans. the first:saving time and effort because it is different from the conventional loan modelwhich requires us to complete the paperwork so that we have to go back andforth to various agencies, not to mention the process which is arguably notinstantaneous. have to wait their turn, wait for surveys and others. second:does not require collateral in the form of valuable goods or documents, so anyonewho is old enough, physically fit and has a KTP identity can apply for a loanonline, does not have to have collateral for land certificates, Bpkb or othervaluables. third:
a solution for those of you who need instantfunds, because the fast process allows you to make a contract in an emergency.
fourth: train you to have a high sense ofresponsibility when you have agreed to the terms and conditions of the onlinecompany, only for those of you who have a permanent job whose salary may stillbe delayed for some reason, not recommended for unemployment.
Fifth: know a little about the world of financialtechnology, especially in the field of online loan applications that allow youto learn the system and how it works and maybe one day it can be applied to acompany on the same basis that you are building with better service and a lowerinterest system of course.
sixth: giving a sense of satisfaction whenreceiving a loan easily but also being able to pay on time according to thepolicies of the online loan company.
the point is when you don’t want to be at riskthen run the agreed rules, pay the debt according to the specified time.
that’s a review of the 12 positive & negativeimpacts of online loan applications –