Expanding MSME Access to Financial Institutions, Here’s How CLIK Does It

Source: Warta Ekonomi, 10-09-2024
Reporter: Fajar Sulaiman

Warta Ekonomi, Jakarta – The Credit Information Management Institute (LPIP), PT CRIF Lembaga Informasi Keuangan (CLIK) is determined to boost Indonesia’s economic growth. One way to do this is by expanding access to financing or credit for MSMEs. This is because MSMEs have a very large role and contribution to the Indonesian economy.

KADIN data reveals that in 2023, MSMEs players reached around 66 million and their contribution reached 61% of Indonesia’s Gross Domestic Product (GDP), equivalent to IDR 9,580 trillion. MSMEs absorb around 117 million workers (97%) of the total workforce.

Leonardo Lapalorcia, President Director of CLIK said, to facilitate MSMEs access to financial services, they (MSMEs) must increase their capabilities. Meanwhile, from the government’s side, they can continue to increase education, literacy, access to services, and facilities.

“We must also see how the financial market can support issuing loan facilities, where companies have met all the requirements to continue running with profits so that they can return loans to the bank,” he said when met in Jakarta, recently.

Not only that, CLIK Commissioner Adimukyo Mardjikoen added, CLIK also continues to strive to give access to MSMEs, especially those who are still unbanked.

“To help the financial deepening to MSMEs, we try to assess from several data sources such as telco data, PLN data, it can be used to approach MSMEs that are still unbanked,” he continued.

For example, he continued, it can be seen from the transactions of MSMEs of online shopping, phone credit bills, or other transactions that become supporting data of the ability of MSMEs to pay and repay its credit. Thus, financial institutions have the confidence to disburse their credit to the MSME.

“From transactions in e-commerce, payment of phone credit bills, it can be seen that someone has the ability to repay. Therefore, this must continue to be socialized,” he said.

Just for information, as a private credit bureau, CLIK collects and manages Indonesian people’s credit data with several quality data tips, so that it can finally issue various types of reports such as scoring.

“Scoring is a short report containing a person’s credit information. Scoring is a methodology for ranking debtors. Usually the scoring we do will be added with additional data, like telco data,” explained Leo.

“In addition, CLIK can also do processing, we must be able to pull data, must be able to understand the meaning of the data to determine the next action, and must have a system to maintain the digital process,” he added.

In the future, with various efforts and products owned, Leo hopes that CLIK can increase access and penetration of MSMEs to financial service institutions.

“MSMEs penetration is already high, if you look at the data, around 10 million MSMEs already have data in the system. Throughout the last 12 months, it increased by 12%, positive dynamics. The market is advancing, but the risk is also increasing because payment defaults have continued to increase throughout the previous 12 months,” he concluded.