The OJK Financial Information Services System (SLIK), formerly known as BI Checking, is essential for lending institutions in approving credit applications. The OJK SLIK determines customers' creditworthiness when they apply for a KPR, KTA, or vehicle loan.
So, what is the OJK SLIK? According to the official OJK website (5/7/2024), SLIK OJK is an information system managed by OJK for monitoring and servicing financial information, including creditor history (iDeb).
Previously known as BI Checking, SLIK OJK contains information records regarding the debtor's credit history at banks or other financial institutions, including the smoothness of credit payments. Lending institutions use the OJK SLIK score as a consideration when providing credit.
So, what is the OJK SLIK Score? According to OJK regulation no. 40/POJK.03/2019 concerning Assessment of Commercial Bank Asset Quality, with the following details:
Score 1: Current - The debtor is always on time to pay interest and principal. Good credit history and no arrears.
Score 2: Special Mention - Debtors are in arrears on credit between 1 and 90 days.
Score 3: Substandard - Debtor is 91 to 120 days in credit arrears.
Score 4: Doubtful - Debtor is 121 to 180 days in credit arrears.
Score 5: Loss - The debtor is more than 180 days in arrears on credit.
Customers with a high OJK SLIK score will most likely not have their credit application approved.
The following are several OJK SLIK functions for credit borrowers, including:
1. Speed up the analysis and decision-making process in granting credit.
2. Minimize the risk of future credit problems or being in arrears.
3. Reduce borrowers' dependence on conventional collateral.
4. Allows credit providers (banks and financial institutions) to assess the reputation of credit applicants as a substitute or complement to collateral.
5. Increase operational cost efficiency.
6. Support transparency in credit management.
Source: Ojk.go.id, Bisnis.com, Liputan6.com
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