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OJK adds insurers, P2P lenders to credit score database

Aditya Hadi (The Jakarta Post)
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Jakarta
Wed, August 7, 2024

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OJK adds insurers, P2P lenders to credit score database Someone’s watching: A man walks past the Financial Services Authority (OJK) building in Central Jakarta on May 15, 2013. (Tribunnews/Herudin)

T

he Financial Services Authority (OJK) has widened the coverage of the central credit score database SLIK beyond banks and multifinance firms to include other financial institutions.

According to OJK Regulation No. 11/2024, the SLIK database now also includes insurance, guarantee and peer-to-peer (P2P) lending firms.

“We continue to pursue [increased] integration and [greater] efficiency in financial services infrastructure […] The reporting system has become more integrated for SLIK, which now covers banks, insurance and P2P lending,” OJK chairman Mahendra Siregar said in a press briefing on Monday.

In a statement, the OJK explained that the inclusion of debtor information from more financial services would support other financial firms in fund requirement analysis, as well as risk management for disbursing loans and issuing insurance policies.

Firms from the newly included sectors are required to report their data within a year after the regulation is applied.

However, the agency has not yet released details on the content of the regulation or when it takes legal effect.

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