Jakarta, IndoinesiaSentinel.com — Access to financing in Indonesia is heavily influenced by credit scores recorded in the Financial Information Service System (SLIK) managed by the Financial Services Authority (OJK), previously known as BI Checking.
A low credit score can make it difficult, if not impossible, to secure loans from financial institutions such as banks and multifinance companies. The situation has become even more stringent since OJK mandated that jabddonline P2P lending platforms must report to SLIK, meaning that loan histories with these platforms now also affect a person’s credit score.
Before this regulation w as implemented, the Real Estate Indonesia Association (REI) reported that 40% of mortgage (KPR) applications were rejected due to poor credit scores. REI attributed many of these rejections to outstanding debts with online lenders.
In addition to loan rejections, OJK has also highlighted cases where job seekers were denied employment due to low credit scores in the SLIK system.
Agusman, Chief Executive of Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions at OJK, stated that SLIK data could be updated if borrowers have made payments or taken steps according to applicable regulations.
Consumers can now check their SLIK credit score independently. It’s recommended that individuals verify their credit score before applying for loans.
According to Pegadaian’s website, SLIK OJK scores are divided into five categories. A score of 1 indicates an excellent credit history, while a score of 5 signals serious credit issues.
It’s important to note that only borrowers with scores of 1 or 2 can apply for loans from banks without significant problems. Those with scores of 3, 4, or 5 need to take steps to improve their credit scores first.
To check your credit score, you can visit the official website at idebku.ojk.go.id. But what can you do if you already have a poor credit history?
The Age of AI, Human Expertise Remains Irreplaceable
If there are unresolved debts, the only way to improve your credit record is to pay off the outstanding obligations. However, if you believe there’s been a mistake, you should contact or report the issue to the relevant parties.
Typically, SLIK OJK data updates will be completed within 30 days of payment. You can also request a certificate of payment (Surat Keterangan Lunas) as proof when applying for new credit.
(Ray)
