CLIK obtains a license to operate a private credit bureau in Indonesia
Based on existing regulations, the Financial Services Authority of Indonesia (OJK) has issued a Credit Bureau License to CLIK, an affiliate of CRIF spa and joint venture company with other leading technology and service providers in the Indonesian financial industry (Valdo International, Bintang Mulia Andalan, Global Integrasi prima and Wahyu Kartu).
PT CLIK will start working with the public credit registry (PCR) data, which is currently collected by the OJK. The PCR data and updates will be regularly shared with CLIK. The PCR accounts for hundreds of millions of credit facilities contributed regularly by banks, NBFIs, MFIs, and P2P lenders.
The establishment of a credit bureau will help develop the local credit market, allowing SMEs and consumers to move to a more advanced market based on credit references. At the same time, thanks to the availability of comprehensive and updated credit information, lenders will be able to deliver financial services at significantly reduced costs and expand the credit offer to the consumer and SME segments of the economy.
“The Credit Bureau represents another important milestone for CRIF in the country’s business development strategy. Since 2013, CRIF has been operating in Indonesia, delivering analytics and software solutions to all segments of the financial industry. CRIF’s presence was consolidated in 2017 through the acquisition of PT Visi Globalindo Data Utama, one of the leading business information providers in the country”, commented Leonardo Lapalorcia, CRIF PT Managing Director.