THE DYNAMICS OF ONLINE LENDING: A QUALITATIVE APPROACH TO MONEY MANAGEMENT AND RISK MANAGEMENT, STUDY CASE OF FEBI UIN K.H. ABDURRAHMAN WAHID PEKALONGAN STUDENTS

Abstract

This research was conducted to examine how the existence of online financial lending technology provides convenience in obtaining funding but behind this convenience is a negative impact. The purpose of this study is to investigate the money management and risk management that consumers do when making online loans. This study uses qualitative methods through interviews with research subjects who meet the researcher's criteria. The results showed that most customers did not apply money management and risk management in making online loans. Fulfillment of urgent life needs and unnecessary consumptive needs are also reasons for borrowing online. Online lending was chosen because of the ease of access and processing speed. This reason also underlies customers to choose online loan applications without paying attention to their legality aspects. The focus on the availability of funds to meet customer needs quickly makes customers not pay attention to risks by ignoring financial management/money management so that this increases the risk of default.