Research Article

The use ISO 31000:2018 in Indonesian Fintech Lending Companies: What Can We Learn?


  • Franciskus Antonius Alijoyo Parahyangan Catholic University, West Java, Indonesia; and STIMIK LIKMI, West Java, Indonesia


Enterprise risk management (ERM) is significant in running a company. ISO 31000 is one of the ERM types that are familiar. However, there are still pros and cons of ISO 31000. Thus, this study aimed to find out the responses of the Indonesian fintech lending companies managements in implementing ISO 31000. Specifically, this study tried to identify the problems in implementing ISO 31000:2018 to be implemented as ERM. Besides, it also discussed the benefits of the ISO 31000:2018 implementation from the companies' management's perspectives. The data were collected through questionnaires and interviews. The questionnaire results were quantified and interpreted in percentage, while the interview results were analyzed qualitatively using the interactive data analysis method. The study results showed that most of the companies' management believed that they had no significant problems implementing ISO 31000:2018. In addition, they felt that implementing ISO 31000:2018 as ERM gave many benefits in running the companies. The study's findings were discussed by connecting them with the current theories and empirical reviews. However, since the study was done qualitatively, a further study that involves quantitative study to measure the effectiveness of ISO 31000 empirically is needed to support the results of this study.

Article information


Journal of Business and Management Studies

Volume (Issue)

4 (1)





How to Cite

Alijoyo, F. A. (2022). The use ISO 31000:2018 in Indonesian Fintech Lending Companies: What Can We Learn?. Journal of Business and Management Studies, 4(1), 16–22.



Enterprise risk management, ISO 31000, Indonesian companies