Who is William Li, founder of Akulaku? OJK stops Paylater service.

It is known that the founder and CEO of Akulaku is named William Li. He is a graduate of Tsinghua University with a background in law, initially working in the legal and financial world for over 10 years.

His education and professional experience equip him with a deep understanding of legal and financial aspects. He expressed this in an interview with Tech Buzz China, entitled Livecast #11: How to Grow a Leading Consumer Finance company in SEA.

Before founding Akulaku, William worked at the law firm King & Wood Mallesons and served as investment manager at PING AN Insurance. However, his determination to create change in the world of finance led him to partner with Gordon Hu, a senior developer in China who also has work experience at Tencent.

In 2014, the two founded Akulaku, initially focusing on a bitcoin application for foreign workers in Hong Kong. However, when banks did not respond positively, they shifted their focus to Indonesia after discovering that many people in the country were facing difficulties in meeting traditional loan requirements.

In a later interview, William revealed that there are approximately 35,000 foreign workers who use our application but the banks don’t like our business, so we have to talk to many banks in Indonesia.

Finally, in 2016, Akulaku released its application in Indonesia, Malaysia and the Philippines. Through its official website, Akulaku claims that more than 1,000 platform partners have used financial technology services at Akulaku.

The Akulaku application was originally known as a platform e-commerce with a payment system paylater, but as time went by, they developed their services by adding cash loan features and digital banking services.

However, OJK recently announced restrictions on certain business activities for PT Akulaku Finance Indonesia because of the company fintech lending The company does not carry out supervisory measures over the service buy now pay later (BNPL).

OJK Deputy Commissioner for Supervision of Financing Institutions, PMVs, LKMs and other LJKs, Bambang Budiawan, said that as a result of this sanction, AkuLaku was prohibited from carrying out business activities in distributing financing to both existing debtors and new debtors using the scheme. Paylater.

“The point is AFI [Akulaku Finance Indonesia] disobey the same mandatory actions“It’s from the OJK,” said Bambang when confirmed by CNBC Indonesia, Tuesday (24/10/2023).

Besides paylaterAkulaku is also prohibited from channeling financing through the scheme channeling nor joint financing. This PKU sanction has been conveyed by OJK via letter number SR-1/PL.1/2023 on October 5, 2023.

On a separate occasion, President Director of Akulaku Finance Indonesia Efrinal Sinaga said that currently the company he leads is making improvements to its products. paylater. He hopes that in the near future the service can operate again.

“In its implementation, we are committed to fulfilling all provisions regulated by the Financial Services Authority. We prioritize running our business within a legal and compliance framework,” he said.

Most recently, the Chief Executive for Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions and Other Financial Services Institutions OJK Agusman said, by the end of December 2023, Akulaku had completed corrective actions around 95.13% of all targets in the action plan.

“Considering progress corrective action “above, Akulaku has been given additional time until the end of June 2024 to complete several points that are currently in progress for completion,” said Agusman in a written answer to the OJK RDKB, Thursday, (11/1/2024).

On the other hand, President Director of Akulaku Finance Indonesia Efrinal Sinaga promised that business restrictions paylater this won’t be long.

“It’s still in process, hopefully it won’t be long,” said Efrinal to CNBC Indonesia.

(haa/haa)

2024-01-13 03:30:36
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