ABSTRACT
The impact of information technology innovation in the field of financial services has become a trend in Indonesia. One of the financial technology business models is P2PL. As a relatively new financial service business, it is, indeed, not free from problems, such as legality issues and business risks that are predicted to increase as results of various violations. The purpose of this research is to descriptively study the P2PL business phenomenon, which is supported by references and regulations on fintech and cooperative business, so that various risks and ways to reduce them can be identified. The results of this research indicate that if P2PL business is conducted by a cooperative, then by changing the model of conventional financial service business into using information technology, the business entity becomes legal; service users are the members of cooperatives who can function as lenders and other members as borrowers, and the cooperative is owned by the members.
