CLIK and Eureka AI Partner to Launch CLIK Spectrum

Jakarta, 6 February 2024 – PT CRIF Lembaga Informasi Keuangan (CLIK) and Eureka AI announced their partnership and the launch of CLIK Spectrum, a joint credit score product.  CLIK Spectrum seeks to improve access to prime financial services for the Indonesia consumers and the vibrant M-SME community.

“Indonesia as a G20 Nation is maturing its’ financial inclusion narrative towards the notion of financial deepening. 85% of the bankable population have a credit bureau file and score in CLIK. Our new credit score in partnership with Eureka can help Financial Institutions in the prime lending space approve more and bigger ticket size loans without impacting the portfolio quality of the bank” said President Director CLIK Leonardo Lapalorcia.

The partnership improves Indonesia’s credit landscape, especially since the Indonesian government has encouraged greater access to credit. MSME’s Cooperatives and Small and Medium Enterprises Minister, Teten Masduki, mentioned: for MSMEs to upgrade, Indonesia must ease access to prime working and investment capital to expand their business capacity.

By using CLIK Spectrum, it estimated banks can see a 10% increase in approvals from current clients and applications. According to Leonardo, CLIK Spectrum suits customers with a medium-risk profile, where banks can re-qualify and move a large portion of medium-risk customers to the low-risk segment, which in turn can increase credit approval rates on consumer loans, including credit cards. To date, Indonesia is still far behind other ASEAN countries regarding credit card penetration. Indonesia is currently at 5 %, compared to other ASEAN countries, reaching an average of 25 % penetration.

CEO of Eureka AI Benjamin Soemartopo, stated that “Combining the CLIK score, which uses credit behavioral information with our telecom and alternative data score, brings the best of both worlds for credit decisioning. Our advanced AI technology can read patterns from alternative digital data, which when combined with CLIK lending data improve credit analysis. The result is Indonesian consumers and MSMEs can get increased access to lower cost capital to grow the Indonesian economy,” he explains.

CLIK emphasizes the partnership with Eureka AI, representing the company’s effort to help bridge the gap between lenders and borrowers in the prime lending space. Opening access for public and enterprise to credit facilities through a comprehensive and updated credit profile will likely have a positive spill-over effect on long-term sustainable economic growth.

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About PT CRIF Lembaga Informasi Keuangan (CLIK)

PT CRIF Lembaga Informasi Keuangan (CLIK) is a credit bureau that provides services in assisting financial decision making for both Financial Institutions and Non-Financial Institutions. CLIK is an affiliate company of CRIF Spa and is a joint venture with other leading technology and service providers. CLIK was licensed by the Financial Services Authority (OJK), on September 30, 2019 to operate as a Credit Bureau. CLIK aims to use the international experience that CRIF has accumulated over more than 30 years and the technology that CRIF has deployed in 55 countries to build a customized credit bureau service ecosystem for Indonesia.

CLIK obtains financial information reported by Financial Institutions to OJK through the Financial Information Service System. This information along with other non-financial information obtained from non-reporting Financial Institutions and Non-Financial Institutions is aggregated to create products ranging from Credit Scores to Portfolio Alerts. The products that CLIK creates enable institutions to make efficient and accurate decisions involving customers and potential customers through transparency and closing information gaps.

About Eureka AI

Eureka AI is a software company that delivers enterprises actionable intelligence at scale by applying AI to telecom and population scale data sets.  Eureka works with Fortune 500 companies in industries including banking, insurance, ecommerce, telecom and transportation and has operations across Asia Pacific, the Middle East, Europe and the United States.  Learn more at www.eureka.ai.