MANAGEMENT OF FINTECH BASED ON LOANS IN INDONESIA FROM CRITICAL MANAGEMENT STUDIES PERSPECTIV

Abstract

This study aims to analyze the loan-based/peer-to-peer lending FinTech (LPMUBTI) management from the
perspective of Critical Management Studies (CMS). Respondents in this study were Otoritas Jasa Keuangan
(OJK), the general public (40 respondents). As well as the LPMUBTI companies which is the object of the
research are Amartha, Modalku, Akseleran, and Koinworks.
This study used two stages: First, LPMUBTI companies are analyzed using Good Corporate Governance
(GCG) variables, namely transparency, accountability, responsibility, independence, and fairness.GCG aspects
to assess the performance of LPMUBTI companies in terms of capital, regulation and management. Secondly,
the management of the LPMUBTI companies are discussed through the Critical Management Studies (CMS)
perspective using the Theory of Communicative Action, Deliberative Democracy, and Publuc Sphere. Critical
Management Studies as an alternative approach to FinTech (peer-to-peer lending) in Indonesia. The results of
this study indicate that the implementation of the policy from regulator (OJK) to the LPMUBTI companies have
not been fully maximized, the gap in the understanding of information between the service users and LPMUBTI
companies.
Keywords: LPMUBTI, OJK, GCG, CMS, Jürgen Habermas