The Concept of Utilitarianism to Realize Consumer Protection in the Financial Services Sector

Abstract

Global changes in the world of financial technology have affected and affected the world of banking and national financial services. Starting from banking, capital markets, financial institutions, financial services and the existence of consumers themselves, both directly and indirectly. The development of financial technology must be an aspect that the OJK needs to pay attention to and anticipate. Because this global change will have a direct or indirect impact on the domestic situation or the structure of financial services. and the efficiency of financial services, known as Financial Technology or Fintech (P2P lending), which is growing rapidly in Indonesia, the advantages of borrowing and borrowing money through P2P-lending services another is that the terms are very easy and the process is fast compared to borrowing money through a bank institution. However, the ease of transactions offered by P2P-lending services actually weakens the position of consumers. Problems 1). Does online lending fulfill a sense of benefit for consumers?, 2). How is the application of the concept of utilitarianism to realize fintech (Financial Technology) consumer protection. The aim is to find out how the benefits of fintech (financial technology) are for consumers.